Citigroup Pays Just $7 Billion For Causing Financial Crisis

By: Monday July 14, 2014 11:07 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 safe and stable mined the financial markets to blow up in 2008.

The resulting financial crisis saw the American people suffer incredible pain while Citigroup received a federal bailout from Congress under TARP and a wide open line of endless credit from the Federal Reserve.

 

Terry Sutherland’s Appearance Explained with New SBA Fraud Protection Policy

By: Wednesday July 9, 2014 2:25 pm

I have been wondering why one of the most tenured and experience Pentagon spokesmen suddenly popped up at one of the smallest agencies in government, the Small Business Administration (SBA).

It makes perfect sense. Terry Sutherland is there to help journalists understand why the SBA needs a policy to create a “safe harbor” from penalties for firms that are guilty of the fraud that is absolutely not happening at the SBA.

Chris Christie Administration Facing Inquiry Over Actions On Second Bridge

By: Tuesday June 24, 2014 12:05 pm

While New Jersey Governor Chris Christie is already shoulder deep in the investigation of illegal lane closures on the George Washington Bridge, another scandal is growing over a second bridge under his authority – the Pulaski Skyway. The Pulaski Skyway is an elevated roadway that connects the New Jersey cities of Newark and Jersey City and, according to the New York Times, is the subject of an inquiry by the Manhattan district attorney and the Securities and Exchange Commission.

Anti-Small Business Policies Prove Depth of Government Corruption

By: Saturday June 7, 2014 4:44 pm

Over the last twenty-five years three U.S. Presidents and thousands of members of Congress have continually approved some of the most anti-small business, anti-middle class federal programs in history.

U.S. Census Bureau data indicates small businesses are responsible for over 90% of net new jobs, over 50% of the private sector workforce, over 50% of the Gross Domestic Product and over 90% of all U.S. exports.

Remember the Webcam Spying by the NSA and GCHQ? Watch This

By: Saturday May 31, 2014 12:22 pm

This is just a simple, easy to understand example, of a few minutes of spying by one comedian and his techie buddy. How many people who say it’s not a problem, would feel that way after their entire home lives were open to surveillance?

Credit Suisse Pleads Guilty To Conspiring To Aid Tax Evasion

By: Tuesday May 20, 2014 12:10 pm

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.

Pentagon Finances Still ‘Unauditable’

By: Thursday May 15, 2014 1:30 pm

Though we live in the age of austerity, at least concerning the 99%, the Department of Defense gets around $600 billion a year. More funds than any other military in the world. More funds than the next ten highest spending countries combined.

So what happens to all that money once it enters the Pentagon?

FDL Movie Night: HELL With Director Lisa Stock

By: Monday April 14, 2014 4:59 pm

Tonight’s guest Lisa Stock works in the realm of magical realism, creating fantasy worlds redolent with myth and mystery. In HELL, a series of vignettes take us through dreamlike experiences that expound upon sins, a trip through Dante’s circles of Hell set in modern times, fraught with social anxiety and surreal saturated colors. She shot HELL in locations around the world, and adapts her tightly budgeted shoots to shifts in weather and other forces majeures.

Bank Of America To Pay $800 Million For Duping Customers

By: Thursday April 10, 2014 6:44 am

Ever wonder about those “credit card protection” services? In exchange for added fees each month, your card is supposed to be protected from identity theft. Apparently when that service was offered by Bank of America it was a scam with lots of dubious fine print. Even when the banksters offer protection it’s a predatory act.

JPMorgan Agrees To Pay Billions For Causing Financial Crisis

By: Wednesday November 20, 2013 11:58 am

Yesterday the Justice Department announced a $13 billion settlement with JPMorgan over the megabank’s fraud in the mortgage backed security market that helped trigger a financial meltdown in 2008. The deal was completed after JPMorgan CEO Jamie Dimon summoned Attorney General Holder to a private meeting to avoid a press conference, the terms discussed at that meeting would later be finalized into the current settlement agreement.

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