Tag Archives: Hedge fund

Debt Ceiling Talks Collapse

In the comments section of Huffington Post under Debt Ceiling Talks Collapse, the following comment stands out in the Community Pundits section:

squeezed   02:17 PM on 7/24/2011

For two and a half years, this country has been trying to dig itself out of a recession while Republicans block everything and any attempt to right the wrongs.

If you’re in a union, they’ve been trying to destroy you.

If you’re a woman, they’ve been attempting to control you.

If you’re unemployed, they’ve mocked you.

If you’re uninsured, they’ve taunted you.

If you’re a _Hispanic, they’ve blamed you.

If you’re a _Muslim, they’ve fear mongered about you.

If you’re gay, they’ve bible bashed you.

If you’re a teacher, they fire you.

If you’ve lost your home, they’ve laughed at you.

If you’re a kind, compassionate, decent person, they h@te you.

But if you’re a hedge fund manager, or a banker, or an oil tycoon, the Right has served you and you alone.

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Filed under U.S. Politics

Wednesday Blog Round Up

Palin Hits Back at Barbara Bush
In an interview on the Laura Ingraham Show , Sarah Palin blasted back at Barbara Bush..

Bill O’Reilly and Glenn Beck are confused by Jimmy Carter’s claims tha..
Click here to view this media Bill O’Reilly really hates it when people call out Fox..

Sarah Palin Speaks on the Korean Crisis
by watertiger Here’s the Quitter, explaining to Glenn Beck precisely what the United..

Palin: ‘Obviously, We’ve Got To Stand With Our North Korean Alli..
In recent days, former Alaska Gov. Sarah Palin has hinted in her clearest language y..

First They Came For My Junk
A moment like this reminds me of the moment in the late 30s when the Nazis started w..

The Morning Plum
* Right’s attack on TSA invasion of privacy going bust? It appears the American peop..

Florida Woman Dies After Medicaid Program Outsourced To Private Insure..
One of the most destructive practices of private health insurance companies is the p..

Fox continues its all-out assault on the Dream Act
Continuing its assault on the Dream Act, Fox News has repeatedly attacked and pushed..

Don Chu Arrested In Massive Hedge Fund Insider Trading Sweep
NEW YORK (By Grant McCool and Emily Chasan): An executive of an “expert networking f..

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Filed under U.S. Politics

Report: Feds Preparing Massive Sweep Of Insider Trading In Financial Sector

It’s about damn time!  I’m hoping that the aftermath will weed out a few crooked Congressmen and Senators on both sides of the aisle, as well. 

This is the sort of thing that allows me to maintain a little faith in the Obama administration.  Just when you think those guys have muddled so many things in the name of “bi-partisanship”, they surprise us with this bit of news.  I’m thinking, masterful chess move by the Feds and Obama.

The mortgage and foreclosure bankster scams should be next! 

It goes back to John Kenneth Gailbraith and Jack Clark’s words…

ALL YOU NEED TO KNOW

The modern conservative is engaged in one of man’s oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness.
John Kenneth Galbraith

THE JACK CLARK COROLLARY –

The Rational Radical

Everything the right-wing does is designed to accomplish one of two things, either:
(a) transfer wealth from everyone else to the rich, or,
(b) distract everyone else from the fact that (a) is occurring.

Wall Street Journal

Federal authorities, capping a three-year investigation, are preparing insider-trading charges that could ensnare consultants, investment bankers, hedge-fund and mutual-fund traders and analysts across the nation, according to people familiar with the matter.

The criminal and civil probes, which authorities say could eclipse the impact on the financial industry of any previous such investigation, are examining whether multiple insider-trading rings reaped illegal profits totaling tens of millions of dollars, the people say. Some charges could be brought before year-end, they say.

The investigations, if they bear fruit, have the potential to expose a culture of pervasive insider trading in U.S. financial markets, including new ways non-public information is passed to traders through experts tied to specific industries or companies, federal authorities say.

Read the whole story: Wall Street Journal

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Filed under Wall Street Insider Trading

Robert Reich on the Super Rich Getting Richer While Everyone Else Gets Poorer

Robert Reich

Image via Wikipedia

Robert Reich is the man whom I hope President Obama chooses to replace Larry Summers who is head of the White House’s National Economic Council, a position created by former President Bill Clinton during his presidency.

Robert Reich was then President Clinton’s Secretary of Labor.  Reich would be the ideal person to replace Summers.  Robert Reich is a progressive and knows his economics.  Obama decided to surround himself with a Wall Street alumni economic team.  I honestly hope that Reich and/or Paul Krugman will be called in to turn our economy around, to benefit “the people” and not Wall Street.

America Blog

At least we have a White House that understands the problem since he’s a Democrat and not just another run of the mill corporatist who is part of the problem. More from Robert Reich.

The super-rich got even wealthier this year, and yet most of them are paying even fewer taxes to support the eduction, job training, and job creation of the rest of us. According to Forbes magazine’s annual survey, just released, the combined net worth of the 400 richest Americans climbed 8% this year, to $1.37 trillion. Wealth rose for 217 members of the list, while 85 saw a decline.

For example, Charles and David Koch, the energy magnates who are pouring vast sums of money into Republican coffers and sponsoring tea partiers all over America, each gained $5.5 billion of wealth over the past year. Each is now worth $21.5 billion.

Wall Street continued to dominate the list; 109 of the richest 400 are in finance or investments.

From another survey we learn that the 25 top hedge-fund managers got an average of $1 billion each, but paid an average of 17 percent in taxes (because so much of their income is considered capital gains, taxed at 15 percent thanks to the Bush tax cuts).

 

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Filed under Economic Inequality, Economy