Privatization Of World Water Supply Kicks Into Gear

By: Tuesday July 29, 2014 7:55 am

How much would you pay to stay alive? As climate change makes the planet less hospitable for human life in numerous well established locations, a major push is taking place by transnational corporations to secure claims on the most valuable commodity on earth – water. While privatizing and commidifying water supplies has been a neoliberal [...]

DOJ Citigroup Settlement Lacks Disclosure Of Victims And Criminal Conduct

By: Tuesday July 15, 2014 7:52 am

On Monday the Department of Justice and Attorney General Eric Holder announced a meager $7 billion settlement with Citigroup for causing the most severe financial crisis since the Great Depression by fraudulently selling mortgage securities that wrecked the financial markets. AG Holder celebrated the settlement and claimed “This historic penalty is appropriate given the strength [...]

Citigroup Pays Just $7 Billion For Causing Financial Crisis

By: Monday July 14, 2014 7:22 am

Citigroup, one of the most dysfunctional and malevolent financial institutions in American history, has agreed to pay $7 billion to settle investigations into the fraud it committed in the mortgage security market that led to the financial crash of 2008. The selling and marketing of volatile mortgage security products to investors around the world as [...]

Study Shows Being Rich Makes You An ‘Asshole’

By: Tuesday July 8, 2014 7:27 am

Ever had the sneaking suspicion that most rich people are jerks? Well the connection between wealth and narcissism has now been studied and the results show that as people get richer, they are more likely to feel entitled, to exploit others, and to cheat. According to studies by psychologist Paul Piff, wealth leads humans to [...]

Obama Backs Away From Inequality Debate To Comfort Corporate Democrats

By: Monday July 7, 2014 7:44 am

Months ago it was “the defining issue of our time”¬† today it’s a hazy memory of a dreamy talking point. According to the Washington Post, President Barack Obama has “largely abandoned” talking about wealth inequality in America to appease corporate Democrats worried about losing support from the wealthy contributor class. So instead of taking on [...]

Eric Holder’s Legacy To Be Failing To Hold Wall Street Accountable

By: Tuesday July 1, 2014 11:26 am

Attorney General Eric Holder, appointed in the beginning of Barack Obama’s presidency, is beginning to have his legacy evaluated and it is not looking good. A creature of Wall Street who helped represent some of the culprits of the mortgage crisis in private practice, Holder never made an honest or substantive efforts to go after [...]

TISA: Secret Agreement Further Deregulates Wall Street

By: Wednesday June 25, 2014 9:10 am

Thanks to Wikileaks the world now knows about the Trade in Services Agreement (TISA). The agreement was so secret that it was not only meant to be kept from the people of the participating countries during negotiations but for five years after going into effect. TISA is perhaps the most anti-transparent trade agreement ever proposed [...]

Study: Hedge Funds Taking Over Pension Fund Investments, Increasing Risk

By: Wednesday June 4, 2014 9:47 am

Recently Pando Daily broke a story about Governor Christie’s Administration violating pay to play laws by rewarding political donors with New Jersey Pension Fund contracts. The gist being that after General Catalyst employee Charles Baker donated money to the NJ GOP, General Catalyst received roughly $15 million to invest on behalf of retirees. While the [...]

Wall Street Still Serving Drug Cartels

By: Thursday May 22, 2014 12:38 am

One step forward two steps back? Though one Wall Street megabank, Credit Suisse, finally faced a bit of justice for criminal activity it seems there still has not been much of a change in some of the bankster community’s more unsavory practices – such as money laundering for drug cartels. First HSBC famously got off [...]

Credit Suisse Pleads Guilty To Conspiring To Aid Tax Evasion

By: Tuesday May 20, 2014 10:38 am

It has finally happened, a Wall Street firm has pleaded guilty to a felony. Credit Suisse, to address criminal activity that occurred for decades, pleaded guilty to one count of conspiring to aid tax evasion. The firm will also pay a fine of $2.6 billion and have an independent monitor for two years. Credit Suisse [...]

As Hedge Fund Managers Rake In Record Pay Obama’s Economic Advisor Attacks Piketty

By: Monday May 12, 2014 10:29 am

2013 was a great year for high-tier hedge fund managers, even ones who pled guilty to securities fraud. The 25 highest paid hedge fund managers made over $21 billion in 2013, more than twice as much as all the kindergarten teachers in America combined. Whether those 25 men provided as great a benefit to our country [...]

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