banks

Busted and Bankrupt Detroit Can Now Wipe Out Worker Pensions

It is official.  Detroit is bankrupt.  Detroit is not only bankrupt they can now trash pensions owed to city workers.  That is police, fire, hospital and a host of workers counting on those pensions for retirement.  The U.S court ruling allows for a bankruptcy type for cities and towns, Chapter 9, to proceed and specifically puts pensions on the fair game bankruptcy chopping block.

Friday Movie Night - Inside Job

Tonight's documentary is Inside Job.  Made in 2010, this is probably the best documentary on the financial crisis and it also won an Academy award.  It should also make your blood boil and then bubble over considering business as usual is still going on.  The conflicts of interest alone exposed in this film will stun you  In short it's a must see and if you have watched it already, well, see it again.

 

Holder Claims He Can't Prosecute the the Banks Because It Would Negatively Impact the Global Economy

Attorney General Eric Holder, the highest law enforcement officer in the land, said he cannot prosecute the big banks because that would endanger the global economy.  This is an admission the world is run by the banks and not governments or the rule of law.

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.

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