LIBOR Archives - Occupy Toronto

TRNN’s Bill Black Reports: Bank regulators conspired with HSBC bank to hide fraudulent practices

Occupy Toronto 25 July 2012 by Michael Holloway First instalment of a regular series at The Real News Network today, “Bill Black, author of ‘The Best Way To Rob a Bank is to Own One’ begins a regular TRNN feature reporting on financial news.” Youtube Channel: TheRealNews Bill Black is an associate professor of economics and law at the University of Missouri–Kansas City, a white-collar criminologist, a former financial regulator, author – and now television commentator! Great move by TRNN. I can’t wait for the next episode from Professor Black. He has been a clear voice at TRNN on these complex issues. In the first half of today’s report, Black lays out how Bank Regulators conspired with banks to break banking regulations. When massive violations were unearthed by regulators, HSBC bank fraud was ostensibly ignored. The Senate investigation ongoing now into HSBC, by the Senate’s Permanent Subcommittee on Investigations, is so late in coming that statue of limitations have run out on most of the wrong doing – negating any prosecutions. In the second half of today’s feature, Bill Black reports on Neil Barofsky’s new book, ‘Bailout’ – about his time as SIGTARP (SIGTARP: ‘SIG’, Special Inspector General, ‘TARP’, Troubled Asset Relief Program). The bank bailout watch-dog, appointed by then President Bush, over saw the $700Billion TARP bank bailout program. While Special Inspector General for TARP, Barofsky forced the Justice Department to take several small banks to court. As ‘SIG’ it was not Barofsky’s role to pursue prosecutions – but as no government agencies were pursuing evidence of fraud that he had uncovered – he decided to prefer charges on several smaller banks where his team had found record-fixing and fraud by executives at the highest levels; as a test to see if a prosecution would result in convictions — they did. (more on TARP below) TheRealNews: “Bill Black Reports: LIBOR and HSBC” Wolf Blitzer interviews Special Inspector General, Neil Barofsky on CNN, Oct 5, 2009: SIGTARP Neil Barofsky Discusses New Report with Wolf Blitzer (interview begins at 0:46) Links: The Real News Network | Bill Black Reports: (updating link) – http://therealnews.com/t2/index.php?option=com_content&task=view&id=832&Itemid=74&jumival=891 The Real News Network | Bill Black Reports: LIBOR and HSBC: http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=8617 Gaurdian.uk.co, “HSBC, Libor and the cynical ethos of international banking” – http://www.guardian.co.uk/commentisfree/2012/jul/17/hsbc-libor-cynical-ethos-international-banking?intcmp=239 NYT – Books, “Bad Banks, Big Bailouts and Bruises” ‘Bailout,’ by Neil Barofsky, review by Jackie Calmes, published July 24, 2012, NYT – Books – http://www.nytimes.com/2012/07/25/books/bailout-by-neil-barofsky.html?pagewanted=all SIGTARP – Home – http://www.sigtarp.gov/Pages/home.aspx mh...

The ‘R’ word, at radical economist site, Zero Hedge – “Where Is The Line For Revolution?”

Occupy Toronto 01 August 2012 by Michael Holloway One of my favourite blogs, Zero Hedge, where “Tyler Durden” (re: movie ‘Fight Club’, 1999) posts about the collapse of the new world order. Posted July 19 2012: Guest Post: Where Is The Line For Revolution? Submitted by Tyler Durden on 07/19/2012 18:41 -0400 at Zero Hedge ETC Federal Reserve Guest Post LIBOR Martial Law national security SPY Submitted by Brandon of Alt-Market, The subject of revolution is a touchy one. It’s not a word that should be thrown around lightly, and when it is uttered at all, it elicits a chaotic jumble of opinions and debates from know-it-alls the world over. The “R” word has been persona non grata for quite some time in America, and until recently, was met with jeers and knee-jerk belligerence. However, let’s face it; today, the idea is not so far fetched. We have a global banking system that is feeding like a tapeworm in the stagnant guts of our economy. We suffer an election system so fraudulent BOTH sides of the political spectrum now represent a hyper-rich minority while the rest of us are simply expected to play along and enjoy the illusion of choice. We have a judicial body that has gone out of its way to whittle down our civil liberties and to marginalize our Constitution as some kind of “outdated relic”. We have an executive branch that issues special orders like monarchical edicts every month, each new order even more invasive and oppressive than the last. And, we have an establishment system that now believes it has the right to surveil the citizenry en masse and on the slightest whim without any consideration for 4th Amendment protections. There are plenty of pessimists out there who would assert that Americans are totally oblivious to these developments. I have not found that to be true at all. Millions of people are awake to such issues, and millions more are, at the very least, angry at the state of things, though they may not fully understand the source of their distress. Only a fool would deny that a fight is in the air… Though the atmosphere of conflict is present, we are indeed experiencing a pause, a breath, a quiet moment before the breach, and this is a confusing time for many. … ..read the rest … Zero Hedge – “Where Is The Line For Revolution?” –http://www.zerohedge.com/news/guest-post-where-line-revolution?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29...