In case you forgot your bankster overlords – free of fear thanks to Obama, Holder, and the NSA -  are continuing to rig markets, here is yet another scandal. Wall Street has gone beyond rigging LIBOR, Swaps, and the Oil market to include the currency market. Traders at some of the world’s biggest banks manipulated [...]

Freedom isn’t free. The National Security Agency along with the CIA, FBI and other intelligence agencies of the U.S. government has been swapping information with private companies. In exchange for private companies giving the intelligence agencies information on their users, the private companies receive access to classified intelligence. The Corporate State indeed. Thousands of technology, [...]

Despite Wall Street kicking the crap out of reformers in Congress and in the regulatory bodies, they want more. The banksters demand to have what they have had historically – complete domination. Therefore, they are looking for other avenues to eviscerate what little is left of financial reform and seemed to have found another one [...]

Former General David Petraeus is done licking his wounds from his sex scandal and is turning his attention to the all American pastime of chiseling himself some cash. Petraeus is joining private equity powerhouse KKR. The former CIA Director will head KKR’s institute focused on public policy. David Petraeus, the former U.S. Army general who resigned [...]

I try to be cynical, but I can’t keep up. Not only is Congress punting rulemaking to captured and compromised regulators, Wall Street lobbyists are now actually drafting the bills. “Wall Street writes its own laws” used to be a useful polemic, now it’s a statement of fact. Bank lobbyists are not leaving it to [...]

Behold the power of finance capital. Despite shitting the bed and making us all clean it up, Wall Street will remain essentially the same as the Commodities Futures Trading Commission (CFTC) caved to the banksters and will continue to allow a cartel to control the derivatives market. Under pressure from Wall Street lobbyists, federal regulators [...]

As a recent study indicates that college and universities are giving financial aid to rich students at the expense of poor ones Senator Elizabeth Warren is offering a bill to bring student debt relief. Warren says students should get the same rates as Wall Street. Sen. Elizabeth Warren introduced her first standalone piece of legislation [...]

Noted Wall Street ski buddy and House Financial Services Chairman Jeb Hensarling is moving to re-deregulate derivatives by gutting the Dodd-Frank Act. Apparently one financial crisis this century is not enough for Hensarling and friends as the House today is marking up a slew of bills to help Wall Street avoid derivatives oversight. The Committee [...]

Race you to the bottom. House Financial Services Chairman Jeb Hensarling decided to take some of his constituents with him on a ski trip, no not the people of Texas’ 5th congressional district, Hensarling’s real constituents, Wall Street. In January, Rep. Jeb Hensarling, R-Texas, ascended to the powerful chairmanship of the House Financial Services Committee. [...]

Standard & Poors, one of the major credit rating agencies, has done an interesting pivot in defining itself amidst a Justice Department civil suit. Like all the major rating agencies S&P is paid by those whose securities it rates.  This, quite obviously, is a conflict of interest in how it rates securities because if it [...]

Adding insult to injury, many of the checks sent out to victims from the fraudclosure settlement have bounced. The terms of the fraudclosure settlement are bad enough but now it seems the victims will have to wait a little longer after trying to deposit their meager, grossly insufficient check only to have it bounce. It [...]