Robert Oak's blog

Obama Names Wall Street Defense Attorney to Head the SEC

Will America finally get justice for crimes on Wall Street?  We think not.  Today, President Barack Obama named Mary Jo White to head the Securities and Exchange Commission.  The White House and most of the press are touting her credentials as a former New York Southern District prosecutor.  From the White House press briefing:

How Could Ye Be So Blind About Subprime?

federalreservebuildingThere is nothing more frightening than when those in charge of the economy miss something that was as plain as the nose on your face. Such was the situation with the Federal Reserve and the subprime mortgage crisis in 2007.   The FOMC met on August 7th and claimed there was not enough evidence of a subprime problem.

Who Knew Jack Lew?

Jacob_J._Lew_signatureWhen Obama nominated current White House chief of staff and former Office of Management and Budget Director Jack Lew for Treasury Secretary all the main stream press could talk about was his loopy signature.

What they are not amplifying is Jack Lew's Wall Street connections and ties to think tanks which often promote corporate centric policies that harm the U.S. middle class.

Don't Go There AIG!

moneyhatThe most incredible headline flashed across the screen, AIG is thinking of suing the Federal Government for bailing them out. This is the company at the heart of financial contagion. AIG had created derivative dominoes where if one financial institution failed, that one institutional failure would trigger credit default swaps derivatives which in turn would collapse the entire global system.

Foreclosed Upon Americans Get Chump Change While Banks Erode Regulations

bankstersgThe Federal Reserve and the Office of the Comptroller of the Currency are cutting an $8.5 billion deal against ten of the largest banks for their systematic foreclosure and loan modifications abuse which resulted in millions losing their homes. From the settlement press release.

Congress Ushers in 2013 with a Resolution to Push the Economy to the Brink

capital buildingPast the final hour the House finally passed a bill to avert the fiscal cliff. The Senate had passed the legislation in the wee hours of New Years Day and after much brew ha-ha the House allowed an up and down vote on the Senate bill. We have listened to months and months of squabbling, bringing the economy to the brink over a very simple final result that could have been passed months ago.

Wages in America and the Attack on Labor

The attack on labor is in full throttle. We hear reports of outrageous pay for government workers with economic fictional spin. Pundits weave tall tales blaming the workers themselves as the reason for America's economic malaise. Actual wage statistics are never mentioned. Nor is the never ending income inequality in the United States and the policies which cause it.

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