Aldon O. James, Jr., The President of The National Arts Club, Globalvision Inc. and The Disinformation Company cordially invite
You and a Guest To The Premiere Screening Of Danny Schechter's New Investigative Film Exposing the Financial Crisis as A Crime Story
Tag Archives | Bail Outrage
Via the Onion:
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WASHINGTON — The U.S. economy ceased to function this week after unexpected existential remarks by Federal Reserve chairman Ben Bernanke shocked Americans into realizing that money is, in fact, just a meaningless and intangible social construct.
Calling it “basically no more than five rectangular strips of paper,” Fed chairman Ben Bernanke illustrates how much “$200″ is actually worth.
What began as a routine report before the Senate Finance Committee Tuesday ended with Bernanke passionately disavowing the entire concept of currency, and negating in an instant the very foundation of the world’s largest economy.
“Though raising interest rates is unlikely at the moment, the Fed will of course act appropriately if we … if we …” said Bernanke, who then paused for a moment, looked down at his prepared statement, and shook his head in utter disbelief. “You know what? It doesn’t matter. None of this — this so-called ‘money’ — really matters at all.”
“It’s just an illusion,” a wide-eyed Bernanke added as he removed bills from his wallet and slowly spread them out before him.
Americans United for Change and American Family Voices unveiled a new television ad today as part of a ramped up coalitional effort urging Congress to pass President Obama’s financial regulatory reform plan to make Wall Street more transparent and accountable and prevent another financial crisis. The new ad comes as Citi, one of the largest recipients of taxpayer dollars, revealed how Wall Street is fully back to business as usual by announcing plans to create “the first derivatives intended to pay out in the event of a financial crisis.”
Thanks to everyone who contributed to the Kickstarter campaign for Danny Schechter’s upcoming documentary taking on Wall Street fraud, Plunder: The Crime of Our Time.
With your help, we were able to reach our Kickstarter goal. I’ve been receiving some questions on whether you can still donate, and the answer is a resounding YES!
If you donate $20 or more by February 3rd, you will receive name credit on the “Plunder” DVD and on the film’s website.
So go here to donate, and if you’re still wondering what this is all about, read this.
Wall Street is NOT too big to JAIL.
— Ralph Bernardo, The Disinformation Company
A key question at the heart of the controversial bailout of AIG is just how much money the government lost. The Federal Reserve and Treasury Department have worked to keep that number secret and to conceal who was on the winning end. An unredacted document obtained by the Huffington Post list the damage in detail. Goldman Sachs alone, for instance, got $14 billion in government money for assets worth $6 billion at the time — a de facto $8 billion subsidy, courtesy of taxpayers. The list was produced as part of a congressional investigation led by the House Oversight and Government Reform Committee into the federal bailout of AIG...
Watch out, Wall Street, the Financial Crisis Inquiry Commission is going to be writing a report that is due in December.
Stephen Grocer writes in the Wall Street Journal:
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Major U.S. banks and securities firms are on pace to pay their people about $145 billion for 2009, a record sum that indicates how compensation is climbing despite fury over Wall Street’s pay culture.
An analysis by the Wall Street Journal shows that executives, traders, investment bankers, money managers and others at 38 top financial companies can expect to earn nearly 18% more than they did in 2008—and slightly more than in the record year of 2007. The conclusions are based on an examination of securities filings for the first nine months of 2009 and revenue estimates through year-end.
The rapid comeback of pay on Wall Street, which will be on display as companies report fourth-quarter results starting with J.P. Morgan Chase & Co. on Friday, has exposed the industry to a broadening mix of proposed crackdowns, including a 10-year, $90 billion bank tax described for the first time Thursday by President Barack Obama
In detailing the tax, Mr.