Banksters // Current TV

Just say NO to illegal debt say Greek leftists forming government

A debt created through illegal means , is no debt at all !

artemis6
added this
6 days ago
|
5 comments

The Tea Party - A front group for Banksters & Billionaires

In the fall of 1773 - a group of revolutionaries dressed up like Indians - boarded a ship belonging to the East India Tea Company - and dumped over a million dollars worth of tea over the rail and into Boston Harbor. It was later called the Boston Tea Party - the first act in a drama that eventually led to the Revolutionary War - and the birth of the United States of America. What most people don't know about the Boston Tea Party is why exactly it happened - what the colonists were actually protesting against. It wasn't just against the King, or taxation without representation, or a fight for freedom. It was a protest against corporate control over the North American economy. It came after the British Parliament - who were mostly shareholders in the British East India Company - gave the largest corporate tax break in the history of the world to the world's then-largest corporation, the East India Company - so it could pull a Wal-Mart and put out of business all the local tea sellers up and down the east coast of the colonies. Enraged by that blatant example of crony capitalism - the Tea Act of 1773 - the colonists put feathers on their heads and dumped the tea overboard - and the rest is history. Our nation has a history of - and in fact was founded on - rebelling against corporate monopolies and rage about corporations getting huge tax breaks from Parliament.

Which brings us to today - when tens of thousands of Americans across the nation have taken to the streets to once again protest against too much corporate power and corporate corruption of our government. They're protesting against massive tax breaks for job outsourcers, tax subsidies for insanely profitable oil corporations, and bailouts for Wall Street banksters. And in the irony of all ironies - it just so happens that the most corrupt of our politicians today - the most in-the-bag for the big corporations - are calling themselves Tea Partiers. A lot of the discontent of today was sewn three years ago. Wall Street got bailed out - and the rest of us were stuck with the worst recession since the Great Depression while banksters were cutting fat bonus checks to each other. Americans knew they got screwed. And the banksters, CEOs, and corporate politicians knew that Americans knew they got screwed. So they tapped into that anger to defend themselves.In the fall of 1773 - a group of revolutionaries dressed up like Indians - boarded a... more

Vierotchka
added this
28 days ago
|
18 comments

As The Cookie Crumbles: About OWS Apologetics

Dr. Woody” is a nom du blogue used by John Konopak, Ph.D., rogue scholar and... more

joeeddy
added this
1 month ago
|
0 comments

Revolution 99 Updates: It’s not just about Banks; It’s about Humanity

Wall Street “Bottom Feeders” investing in violence, injury and death. Hey!... more

joeeddy
added this
1 month ago
|
0 comments

This Is Your Defense of Goldman Sachs and Wall Street? | FDL Action

By: Jon Walker Thursday March 15, 2012 10:38 am

Goldman Sachs logo with bag of gold by watertiger

(image: watertiger)
I found the Bloomberg editorial response to Greg Smith’s resignation letter from Goldman Sachs to be so terrible that ironically I think it is a more damning criticism of the current destructive culture on Wall Street than Smith’s original piece. The editors at Bloomberg basically try to paint Smith as naive and stupid, then conclude by saying:

We have some advice for Smith, as well as the thousands of college students who apply to work at Goldman Sachs each year: If you want to dedicate your life to serving humanity, do not go to work for Goldman Sachs. That’s not its function, and it never will be. Go to work for Goldman Sachs if you wish to work hard and get paid more than you deserve even so. (Or if you want to make your living selling derivatives but don’t know what a derivative is, as Smith concedes in passing that he didn’t at first.)

Goldman and other investment banks do perform an important role in our economy, and Goldman bankers — most of them, at least — can hold their heads up high. But it is not charity work. Goldman’s clients are mostly very well-off. Smith’s lament that the bank no longer serves their needs above and beyond its own does not tug at our heartstrings.

This is the heart of the problem with Wall Street right now. The editors at Bloomberg apparently don’t understand the basic principles by which a good service exchange is supposed to work. This client-company relationship should not be a competition, ideally it should be mutually beneficial arrangement.

How the system is supposed to work is that Goldman Sachs would do the best financially by helping their clients do their best. There should not even be a question about putting the clients’ needs above Goldman’s or Goldman’s needs above the clients. Their goals for the most part should be mutually interdependent and self re-enforcing. It should be a a symbiotic relationship not a parasitical one. There is a very real difference between making money providing an expensive service and running a con.

Smith seemed more than willing to help make a lot of money in exchange for providing clients with a good service, Smith was complaining that Goldman was basically ripping people off. Smith’s criticism is that Goldman was not providing its clients what they paid for, the best possible financial advice, and was also using their trust to trick them out of their money.

This Bloomberg editorial suggests it is incredibly stupid to ever expect a Wall Street company to actually try to provide you with the service that you pay them for. If this is truly what the elite business world thinks this is not only an acceptable but expected way to treat paying clients, then Bloomberg makes Smith’s point for him.By: Jon Walker Thursday March 15, 2012 10:38 am Goldman Sachs logo with bag of... more

figgdimension
added this
2 months ago
|
1 comment

Mafia mobster freed from jail because of Allergy!?

(This should steam your veggies!!!!) Mafia mobster is freed from jail just 12... more

figgdimension
added this
2 months ago
|
5 comments

The Wall Street multibillion-dollar scandal no one is talking about

The LIBOR trading scandal could turn out to be far worse for Wall Street than its mortgage troubles.

FORTUNE -- Much of the talk about bad behavior on Wall Street since the financial crisis has been about mortgages with a little bit of insider trading sprinkled in. And that makes sense. Everyone immediately understands what a mortgage is. And the housing bust that resulted from all those bad home loans affected us all. And Hollywood has taught us to ooh and ah over insider trading.

But there is another scandal that has come out of the financial crisis that at least to me makes the mortgage underwriting scandal look like small peanuts, and it has been heating up lately. Two weeks ago, the government disclosed that it is looking into bringing criminal cases against traders and banks that manipulated a key bank lending rate, called LIBOR. A source close to the case says the government's "may" will be dropped soon. Both Barclays and Deutsche Bank have disclosed that they have been the focus of investigations. Banks have suspended dozens of traders. Today, Credit Suisse announced that it was cooperating with regulators on the case. Traders at UBS reportedly are already working with the government on its investigation. Looking for instances in which Wall Streeters go to jail, unlike mortgages, this may be the one.

And yet because it is over a technical sounding bank lending rate, and has been developing for years, the scandal has mostly passed over the public without a real knowledge on what it's about. But to understand the real rot on Wall Street, and how widespread it is, you should.

Consider what went on here. Banks took a rate that they artificially set themselves, and then went out and convinced municipalities and pension funds and others to bet against them on the rate. LIBOR rates were supposed to be set by bank treasurers reflecting what it cost them to borrow from other banks. But reportedly a number of bank treasurers consulted traders when deciding what rate to report to the organization in London that collected and posted the rates. (LIBOR stands for the London InterBank Offered Rate) What's more, traders at a number of banks were given access to the systems that bank officials used to enter the rate so they could overwrite the rates with ones that would better suit them. When the rate went the way Wall Street traders programed it to do, the banks cashed in millions.The LIBOR trading scandal could turn out to be far worse for Wall Street than its... more

figgdimension
added this
2 months ago
|
1 comment

Banks foreclosing on US churches in record numbers | Reuters

Banks foreclosing on US churches in record numbers By Tim Reid LOS... more

figgdimension
added this
3 months ago
|
0 comments

Thrive Movement Warns of Imminent Global Collapse

Important new video by the creator and host of the Thrive Movement, Foster Gamble, is... more

coolplanet
added this
3 months ago
|
23 comments

The Banksters plan to re-make Europe

What's going on right now is a financial bulldozing of Europe - nation by nation... more

Vierotchka
added this
3 months ago
|
8 comments

1% US banks gamble $5 million per US household; $532 trillion total

Reuters and wanttoknow(dot)info provide prima facie evidence that the US 1% runs Wall... more

Anonmaly
added this
4 months ago
|
33 comments

We Spoke Out; Obama listened!

For weeks I have listened to complaints about the Obama’s coming deal with the... more

TomCat1948
added this
4 months ago
|
0 comments

Why It’s a Republican Recession

Common wisdom holds that the near collapse 0f 2008 snuck up on us, and that nobody saw... more

TomCat1948
added this
4 months ago
|
2 comments

Why Europe is Fucked!

– (UK,Leeds) I often wonder how America views our European Union. On the face of... more

joeeddy
added this
4 months ago
|
3 comments

The Need for Glass-Steagall

I remember saying, over and over again, during the Bush Regime, that we had such fond... more

TomCat1948
added this
4 months ago
|
0 comments

Thom Hartmann from Iceland - Where Banksters robbed the people blind

On the one hand, Iceland is the happiest country in the world, with a world-class... more

Vierotchka
added this
5 months ago
|
2 comments

Bridge-jumping for Your Health

Previous generations of Americans could validly expect better lives for their... more

joeeddy
added this
5 months ago
|
0 comments

Worldwide Hippies News Briefs Thursday

34 Congress members call for NYPD-CIA probe BofA’s Countrywide to pay $335... more

joeeddy
added this
5 months ago
|
0 comments

The Assholocracy

Somewhat to my surprise, the Wall Street Journal didn't merely report that... more

figgdimension
added this
6 months ago
|
19 comments

Worldwide Hippies; Austerity Updates

suspect is part of ongoing protests against new charges for road users. The government... more

joeeddy
added this
6 months ago
|
0 comments

select your country

Community Spotlight

TAGS

tagged w/ Banksters

top videos

find current on tv

find current online

recent comments

© 2012 Current TV, LLC All Rights Reserved

the basics

follow us online

tools

stay in touch

© 2012 Current TV, LLC
All Rights Reserved