Let’s hope no one assumes that the $250,000 FDIC deposit insurance will pay one penny toward crypto losses of depositors.
Bailing out the Wall Street megabanks that are serially fined and hit with felony counts appears to be catching on as a major career advancement strategy at the New York Fed.
After overwhelming evidence was obtained of wrong doing, nothing was done, no body wants to talk about it, minimal changes were made.
The crime syndicate otherwise known as wall street is under investigation. But don’t feel comforted because usually they find crimes but nothing ever happens.
The billionaire’s club has been busy in politics for some time. In order to achieve all their goals, they have to overcome one inconvenience – democracy. But this is easy for them today with their wealth and politicians willing to simply comply for donations.
One wonders if the Fed would have sat at savings destroying zero percent interest rates for a decade or talk about going negative interest rates if they were suffering from their policies like pension funds and savers. Instead they are trading the tsunami of money printing like leverage hedge fund managers.
Forget the rules, this is unethical, corrupt and should be criminal. They should all resign, but this is the world of the top and this is normal to them.
248 Chinese Companies with Off-Limit Audits and a Market Cap of Over $2.1 Trillion Are Listed on U.S. Exchanges – Now Congress Demands Action from the SEC 27 August 2021 the Martens The legislation also requires the listed companies to… Read More ›
“It would be nice, it would be nice, to have Biden on our side” (from the musical Hamilton)
Wall Street banks have rebuilt that derivatives doomsday machine today – a $168 trillion monster concentrated at four mega banks on Wall Street. But as we read through dozens of pages of written testimony submitted by witnesses for today’s Senate Banking hearing, the word “derivative” did not appear once.