Matt Taibbi: $26 billion foreclosure fraud settlement doesn’t cut it

Rolling Stone magazine’s Matt Taibbi says the recent 26 billion dollar settlement with the banks for fraud let them off easy. Duh! I don’t have any doubt that this was an election year stunt by Obama. http://current.com/bc/1443708712001?linkBaseURL=http%3A%2F%2Fcurrent.com%2Fshows%2Fcountdown%2Fvideos%2Fmatt-taibbi-assesses-the-26-billion-settlement-designed-to-aid-victims-of-foreclosure-fraud

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Banks agree $25 billion deal for U.S. homeowners

The banks got trillions in loans from the Federal Reserve that they claim they paid back, although it is statistically impossible for them to have done so; but now the banks are willing to pay billions to homeowners, which isn’t all that much when divvied up among all the homeowners the deal is supposed to [...]

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New York State Sues Banks Over Fraudulent Foreclosures

The state of New York sued major US banks on Friday for fraudulently foreclosing on thousands of homeowners in the state in the wake of the nationwide housing crash. The state is suing JPMorgan Chase, Bank of America and Wells Fargo, along with Virginia-based MERSCORP, which it called a “shell company” set up by the [...]

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Barack Obama’s presidency, three years on – Do We Have Any More False Hope Left After He Promised So Much?

It was the summer of 2008 and I was sitting on a train stuck somewhere between London and Newcastle in England. We’d been sitting for a while. Conversations began to light up. People from all over the world discovered I was from the United States. They all expressed universal contempt for George W. Bush, and [...]

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Banks have begun playing games with your money!

(Reuters) – A new video game has gotten its hooks into Brian Kealer, a 26-year-old San Francisco software engineer. He’s not killing birds or using his vocabulary to impress his friends. No, Kealer is after real prizes, like the iPad2 he just scored. And he’s playing with his bank account. Click here for the rest [...]

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The second draft: The Enormous Implications to the 99 Percent of the $26 trillion in Federal Reserve Loans. How Much Did Obama Know About the $26 Trillion the Federal Reserve Handed Out?

How much did Obama know about the $26 trillion in loans the Federal Reserve gave the banks? That money wasn’t used to save the banks. It was used to save rich investors. The Fed claims most of the loans have been repaid. However, statistically, that’s highly unlikely. Okay, it’s impossible. We can only speculate on [...]

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Is the Federal Reserve Trying to Do Mission Impossible to Save an Economy that Can’t be Saved

The Federal Reserve last week announced its new “Enhanced Prudential Standards and Early Remediation Requirements” for big banks, as required by the Dodd-Frank law. You have to pity the poor Fed because it faces an impossible task. The Fed’s proposal opens with an eloquent ode to the evils of too-big-to-fail and moral hazard. And then [...]

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The People’s Revolution in Iceland this Past Year That Your Government and Media Don’t Want You to Know About

We’re told that Greece is on the verge of financial collapse, and so too are Italy and Spain. Iceland was too, and for similar reasons as the nations named above, just a few years ago at the start of the current Great Depression in 2007. But the people of Iceland did something amazing the corporate [...]

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Banks Earned Billions of Dollars From Taxpayer Bailouts

The Federal Reserve kept Congress in the dark about billions in profits generated by big Wall Street firms that used taxpayer dollars to take advantage of below-market interest rates, Bloomberg Markets reported this week. Firms took advantage of the below-market interest rates offered by the Fed amid President George W. Bush’s bailout program, secretly leveraging [...]

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Republican Lobby Firm Prepares a Hit Job on Occupy Wall Street on Behalf of

A Washington lobbying firm with links to the Republican Party and the financial industry has proposed an $850,000 plan to swift boat Occupy Wall Street and any politicians that express sympathy for the protests, according to a memo obtained by the MSNBC program “Up w/ Chris Hayes.” The proposal was written on the letterhead of [...]

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