In France, a third of the electorate recently voted for a far-right or a far-left candidate for the presidency. In the Netherlands – like Germany, a creditor nation that is sick of bailing out southern Europe – the far right and the far left are running first and second in the opinion polls. In Austria,…
Tag Archive for Taxpayers
Latest Business Headlines
Simon Johnson: Will There Be a Meaningful Volcker Rule? – NYTimes.com
by Newswires • • 0 Comments
The Dodd-Frank financial reform legislation of 2010 stipulates that banks and the corporate entities that own banks should get out of the business of “proprietary trading…” Such bets have the potential to break a bank, creating either an unacceptable liability for taxpayers or a serious risk to the financial system, or both. They also often…
JP Morgan Latest News
Banking regulators face fire on JPMorgan losses – The Hill (blog)
by Newswires • • 0 Comments
Banking regulators face fire on JPMorgan lossesThe Hill (blog)By Peter Schroeder – 06/06/12 12:33 PM ET Financial regulators felt the heat from lawmakers wondering how they could have allowed JPMorgan to suffer multibillion trading losses. Members of t…
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Most Aid to Athens Circles Back to Europe – NYTimes.com
by Newswires • • 0 Comments
The European bailout of 130 billion euros ($163.4 billion) that was supposed to buy time for Greece is mainly servicing only the interest on the country’s debt — while the Greek economy continues to struggle. If that seems to make little sense economically, it has a certain logic in the politics of euro-finance. After all,…
European Crisis
Bankia’s Writedowns Cast Doubts on Spain’s Bank Estimates – Bloomberg
by Newswires • • 0 Comments
Spain’s two-week effort to overhaul its lenders and estimate for what it will cost taxpayers may already look out of date. Economy Minister Luis de Guindos said May 11 that a law tightening provisioning rules, his second in three months, would require public funds of less than 15 billion euros ($19 billion). BFA-Bankia, the bank…
JP Morgan Latest News
Letter: JPMorgan loss not rule failure – LubbockOnline.com
by Newswires • • 0 Comments
Letter: JPMorgan loss not rule failureLubbockOnline.comThe statement “Taxpayers should not have to bail out JP Morgan” is another lie. This bank did receive TARP funds because they were required to do so and it has been fully repaid. They won't…
Latest Business Headlines
Hey, Germany: You Got a Bailout, Too – Bloomberg
by Newswires • • 0 Comments
Prudent Germany, the narrative goes, is loath to bail out freeloading Greece, which borrowed more than it could afford and now must suffer the consequences. Would it surprise you to know that Europe’s taxpayers have provided as much financial support to Germany as they have to Greece? An examination of European money flows and central-bank…
JP Morgan Latest News
JPMorgan Losses Become Tool in Regulatory Debate on Capitol Hill – San Francisco Chronicle
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AFPJPMorgan Losses Become Tool in Regulatory Debate on Capitol HillSan Francisco ChronicleMay 22 (Bloomberg) — US lawmakers and regulators are seizing on the more than $2 billion in losses disclosed by JPMorgan Chase & Co. to bolster their positio…
Lee's Free Thinking, Must Read, Radio Free Wall Street
The Last Ponzi Game Standing
by Lee Adler • • 0 Comments
Lee Adler argues that the idea that US economic growth and European economic crisis proves that austerity is a bad thing is false. The US only looks good in comparison, because capital is flowing out of Europe to the last Ponzi game standing, the US Treasury market. The US Treasury magically and instantly converts foreign capital inflows into current spending creating the illusion that austerity is bad and profligacy and stealing from the future income of US taxpayers is good. Russ Winter chimes in on the flight of small investors out of US stocks, and away from the propaganda of mainstream TV financial infomercialism. This is a subscriber only podcast. If you are not a subscriber, click here to access the most recent free podcast posted on Monday, April 23. Subscribers can click the player at the bottom of this post (visible on Radio Free Wall Street main site only) to listen to today’s podcast, or use this link to download. If you are not a subscriber and would like to hear not only today’s podcast but all 8-10 podcasts each month, click here to start here to start your subscription. It takes less than a minute to complete the signup form and start […]
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Mortgage Aid Programs Were Halted, Papers Show – New York Times
by Newswires • • 0 Comments
Los Angeles TimesMortgage Aid Programs Were Halted, Papers ShowNew York TimesThe Federal National Mortgage Association and Freddie Mac approved and even initiated programs to reduce homeowner debt and save taxpayers millions, but halted them before the…
