Bankster Digest: Shenanigans of the 0.01% (updated)

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Major Banks Fined $4.3 Billion over Exchange Market Manipulation (Nov. 13) — Six of the world’s largest banks have been fined a collective $4.3 billion for manipulating the foreign exchange market. HSBC, Royal Bank of Scotland, JPMorgan Chase, Citigroup, UBS AG and Bank of America were found to be negligent in traders’ collusion around global …

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Are UA, PCC Students Being Taken in by Federal Loan Sharks?

OCCUPIED TUCSON CITIZEN The federal government, in collusion with universities and colleges both public and private, appears determined to resurrect an early American form of debt bondage for the benefit of its student population. This debt bondage, called “indentured servitude,” was prevalent in the 18th century and involved workers getting free transport to the American …

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Documents in JPMorgan settlement reveal how every large bank in U.S. has committed mortgage fraud

Photo of Bill Black superimposed on textured background with stylized text on the right, "The Black Finance and Fraud Report"

THE REAL NEWS BLACK: “The United States government, now with the endorsement of the Justice Department, has said that after investigation it found that essentially every large bank involved in the secondary market sales to Fannie and Freddie committed fraud […] and intentional crime. […] There were three of these epidemics of mortgage fraud that …

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A Primer to the Fiscal Cliff

Grey text over white background that reads, "No image of the fiscal cliff available as it is an illusion conjured up by the Debt Relief Commission"

SOURCED ONLINE AND OCCUPIED TUCSON CITIZEN The fiscal cliff explained “Fiscal cliff” is the popular shorthand term used to describe the conundrum that the U.S. government will face at the end of 2012, when the terms of the Budget Control Act of 2011 are scheduled to go into effect. Among the laws set to change …

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My thwarted attempt to tell of Libor shenanigans

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FINANCIAL TIMES This is a good, short article we found behind the Financial Times subscription wall. Google has cached the article which we excerpt below, and which emphasizes that the LIBOR manipulation has been going on for decades. The important point to take away from this is that top executives of financial firms (Bob Diamond, …

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