New Wells Fargo Employee Walked Through All The Crimes He’ll Be Asked To Commit
NEWS IN BRIEF, 31 March 2021
Editor: This is SATIRE. It is also REALITY. Deal with it.
NEW YORK—Meeting with an HR representative for his first day on the job, new Wells Fargo employee Kyle Menardi was walked through all the crimes he’ll be asked to commit, sources confirmed Wednesday. “The crimes we do here are pretty straightforward, and most new employees get a hang of how to do them within a couple of weeks,” the HR rep informed Menardi, adding that he should prioritize getting a handle on the more day-to-day insurance and securities fraud, and then turn his attention to learning about the company’s more long-term scamming and market manipulation criminal projects. Continue reading “Article: New Wells Fargo Employee Walked Through All The Crimes He’ll Be Asked To Commit”
US and eurozone consumer confidence hit one-year highs; German inflation jumps – as it happened
Graeme Wearden, 30 March 2021
US consumer confidence has leapt sharply this month, hitting its highest level since the pandemic began. Stimulus spending and vaccine rollout are spurring hopes of an economic recovery.
US house prices have also continued their recent climb:
In the eurozone, economic confidence has also jumped to a one-year high. Industrial firms, services companies and consumers all reported more optimism about the future.
French consumer confidence also picked up.
In Germany, inflation has risen – hitting 2% on an EU-harmonised basis. Economists predict it will keep rising in the coming months, with higher energy prices partly to blame. Continue reading “Article: US and eurozone consumer confidence hit one-year highs; German inflation jumps – as it happened”
Author: Matt Taibbi / Feb 6, 2021
The Big Apple mag takes a shot at purveyors of “balefully misguided progressive discourse,” i.e. me and a few others who cheered the GameStop rally. A note in reply
Our Financial Oligarchy; Emperors of a Brave New World
They own the regulators; they own the brokerage houses; they own the clearing houses; they own all of your investments; and it’s even been shown that they can exert complete control over the government.
To understand how these banks exert complete control over our financial system, one must first understand the securities clearance system.
In the United States of America, there is only one central clearinghouse: The Depository Trust and Clearing Corporation, and for almost 50 years they have maintained a virtual monopoly over this essential service.
It is a private corporation that is owned by these mega-banks and brokers.
Read full free book online with many illustrations
PDF (470 Pages): Our Financial Oligarchy Back-Up
Whistleblower: Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds
ProPublica, 15 May 2020
Securities that contain loans for properties like hotels and office buildings have inflated profits, the whistleblower claims. As the pandemic hammers the economy, that could increase the chances of another mortgage collapse.
Read full article.
Wells Fargo Advisors, LLC nka Wells Fargo Clearing Services, LLC Fined by FINRA
An AWC was issued in which the firm was censured and fined $175,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to reasonably supervise a former registered representative who excessively traded equity positions in accounts belonging to an elderly customer. The findings stated that the customer was 88 years old when the trading commenced and that as a result of the excessive trading, she paid at least $300,000 in commissions and other fees.
Read full report.
Secrets and Lies of the Bailout
Rolling Stone, 4 January 2013
It has been four long winters since the federal government, in the hulking, shaven-skulled, Alien Nation-esque form of then-Treasury Secretary Hank Paulson, committed $700 billion in taxpayer money to rescue Wall Street from its own chicanery and greed. To listen to the bankers and their allies in Washington tell it, you’d think the bailout was the best thing to hit the American economy since the invention of the assembly line. Not only did it prevent another Great Depression, we’ve been told, but the money has all been paid back, and the government even made a profit. No harm, no foul – right?
Read full article.
Fed Defies Transparency Aim in Refusal to Disclose
Mark Pittman, Bob Ivry, Alison Fitzgerald
Bloomberg cited by Yonkers Tribune
The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.
Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn’t require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.
Read full article.