An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Tuesday, May 19, 2015
Banks commit major felonies, get wrist slapped by Feds and CEO's collect $20 million in compensation
Meanwhile the Feds throw people like Teresa Giudice (Real Housewives of NJ) in jail for some (comparatively) two bit tax evasion just "to make an example."
An example of what? How fucked up the whole justice system is???
Tuesday, March 4, 2014
Big time financial fraudsters going to jail!
No it's not Jamie Dimon or Lloyd Blankfein or anyone from Bank of America or HSBC. It's Real Housewives' stars Joe and Theresa Giudice. The both took a plea and one of them (probably Joe) will be spending the next 3-4 years in jail.
For fraud.
Now please square that in your head against the massive, decade-long (or longer) frauds, money laundering and illegal market manipulations of the major banks--WHO ADMITTED TO THESE THINGS.
Not a single banker is going to jail, but a couple of two-bit reality TV stars? Yep, they're getting locked up.
Shows you how corrupt (and bought) the system is.
Tuesday, July 30, 2013
Real Housewives' fraud charges a travesty
It's a travesty when two of the stars of Bravo's "Real Housewives of New Jersey" face 50 years in prison for fraud, when HSBC, BofA, Goldman, JP Morgan and other Wall Street banks can commit massive fraud, nearly bankrupt the entire global financial system, and nothing happens.
Teresa and Joe Giudice are facing 50 years in prison for falsifying loan documents dating back to 2001 to 2008, in addition to lying about their financial condition when they filed for bankruptcy several years ago. The two have been indicted on 39 counts of fraud and face major prison time. Read here.
Meanwhile, HSBC is caught laundering billions in illicit money, BofA fraudulently foreclosed on homeowners and took away their homes, Goldman admits to fraud and Jamie Dimon is in flagrant violation of Sarbannes-Oxley with his "tempest in a teapot" whale trade, yet nothing happens.
What a travesty.
