Corrupt !

[DiscoTonio]

Et déjà en 29, ils en étaient...

C'était plus artisanal tout de même leurs Ponzis de l'époque de la Blue Ridge et de la Shenendoha...

Priez pour que Draghi ne finisse pas à la BCE...

[DiscoTonio]

Joseph Stiglitz, prix nobel d'économie : "Le système de la Federal Reserve est corrompu et menace la démocratie"



Nobel Prize-Winning Economist: Federal Reserve System is Corrupt and Undermines Democracy
ZeroHedge, 03/03/2010 (en Anglais (trad.))
http://www.zerohedge.com/article/nobel- ... -democracy

If we [i.e. the World Bank] had seen a governance structure that corresponds to our Federal Reserve system, we would have been yelling and screaming and saying that country does not deserve any assistance, this is a corrupt governing structure.

So, these are the guys who appointed the guy who bailed them out ... Is that a conflict of interest?

They would say, 'no conflict of interest, we were just doing our job. But you have to look at the conflicts of interest"...

The reason you talk about governance is because in a democracy you want people to have confidence ... This is a structure that will undermine confidence in a democracy.

Ou encore James Rickards qui a été chargé de régler la crise de LTCM :


Threat Finance
welling@weeden via ZeroHedge, 06/03/2010 (en Anglais (trad.))
http://www.zerohedge.com/article/ltcm-g ... ouble-down

Must read interview by Kathryn Welling with James Rickards, former General Counsel of Long-Term Capital Management. His observation that the financial system is now as risky as it was back then is something that modern bankers will hear and thoroughly forget immediately, only to be reminded once everything collapses once again: "What strikes me now, looking back, is how nothing was changed: no lessons were applied. Even though the lessons were obvious, in 1998. LTCM used fatally flawed VaR risk models. LTCM used too much leverage. LTCM transacted in unregulated over-the-counter derivatives instead of exchange traded derivatives. So risk models needed to be changed, or abandoned. Leverage had to be slashed. Derivatives had to be traded on exchanges or cleared through clearinghouses. Regulatory oversight needed to be ramped up... The government did just the opposite. Glass-Steagall was repealed in 1999, so that banks could become hedge funds. The U.S., in effect stared near-catastrophe in the eye, with LTCM, and decided to double down."

Vous pouvez aussi couter une longue interview de Rickerd sur King World News ici.

Et encore je vous passe Bill Gross, dirigeant de Pimco, 1000 milliards de $ sous gestion, qui explique que ce qui l'étonne le plus avec les politiciens américains, ce n'est pas tant qu'ils soient tous corrompus, mais à quel point ils ne sont pas chers à acheter.



Let’s Get Fisical
Pimco, Bill Gross, 01/2010 (en Anglais (trad.))
http://www.pimco.com/LeftNav/Featured+M ... y+2010.htm

What most politicians apparently are working for is to perpetuate their power – first via district gerrymandering, and then second by around-the-clock campaigning financed by special interest groups. If, by chance, they’re ever voted out of office, they have a home just down the street – at K Street – with six-figure incomes as a starting wage.

What amazes me most of all is that politicians can be bought so cheaply.

Ou encore Ron Paul qui essaie encore et toujours d'abattre le golgoth et de faire passer son "Audit the FED" par des chemins détournés, avec toujours l'insondable Barney Frank pas loin...

Barney Frank Demands Bernanke Probe Fed Involvement In Watergate Scandal And Iraq Arms Sales Following Ron Paul Questioning
ZeroHedge, 03/03/2010 (en Anglais (trad.))
http://www.zerohedge.com/article/barney ... s-sales-fo

Frank, 69, said the Fed must address the charges because “continued concern about political interference” with the Fed and “allegations about a lack of transparency.” Bernanke and other Fed officials are trying to fend off a measure offered by Paul, which passed the House in December, that would open the Fed to audits of interest-rate decisions.
“These specific allegations you’ve made I think are absolutely bizarre, and I have absolutely no knowledge of anything remotely like what you just described,” Bernanke told Paul, a Texas Republican who wrote the 2009 book “End the Fed,” during last week’s hearing.

Ou encore William K. Black qui a aidé à regler la crise des Savings & Loans, ou encore Simon Johnson, et j'en passe...

Tous sont unanimes pour dire que le système est totalement corrompu et que la démocratie est en danger (selon moi, elle est déjà morte depuis longtemps).

[e.bouill]

Merci disco pour tes formidable revues de presse !

[DiscoTonio]

Et pour la forme, je rajouterai encore ceci, bien que ce ne soit pas récent (des fois que certains l'aient raté) :



Cet édifiant documentaire de PBS sur comment la bande de mafieux de la finance à la tête des USA (Rubin, Greenspan, Summers) a eu la peau de Brooksley Born à la tête de la CFTC qui voulait réguler le marché des produits dérivés :

The Warning
PBS, 20/10/2009 (en Anglais (trad.))
http://www.pbs.org/wgbh/pages/frontline/warning/view/

Au passage, Lawrence Summers est toujours aux côtés d'Obama

[DiscoTonio]

Merci disco pour tes formidable revues de presse !

Ben merci merci, mais au passage, il manque quelque fonctionnalités sur le fofo, comme des balises cnbc, dailyshow, pbs, bloomberg...

Pouvoir faire des images cliquables aussi... de pouvoir réduire la taille des images ou encore les aligner à gauche du texte...

Sinon, je ne veux pas jeter la pierre, mais on en est où de l'hébergement, du passage de flambeau toussa toussa...

[Murps]

Justement, ça avance...

[Nevermind]

Effectivement, grand merci pour ton travail !

[DiscoTonio]

Elizabeth Warren était l'invitée de Charlie Rose, et le moins que l'on puisse dire, c'est qu'elle n'y va pas avec le dos de la cuillère.

Pour rappel Warren est une grande défenseuse de la classe moyenne US et était pressentie pour prendre la direction de l'agence de protection des consommateurs (seul véritable changement qu'apportait la première réforme financière d'Obama) mais que la corruption, oups pardon, le lobbying des banques de Wall Street a envoyée dans les oubliettes du parlement...
Pour l'instant, elle est au congrès, à la tête du panel de supervision du congrès.

Elizabeth Warren, Chair, The Congressional Oversight Panel
Charlie Rose via ZeroHedge, 04/03/2010 (en Anglais (trad.))
http://www.zerohedge.com/article/elizab ... e-and-back

Je reprends ici quelques scripts repris par ZeroHedge :

ELIZABETH WARREN: Enron taught us a few years back, you remember, in fact that the books are dirty, that there is one set of books put out in front for everyone to see, but there are effectively off the book transactions that nobody can see that reflect the real risks that your enterprise has taken.

And we’ve gone straight from Enron to Greece, with lots of stops in between for large financial institutions.

No, it really is about things like transparency and honesty.

La double comptabilité, avec un livre de comptes officiels pour arnaquer le poypoy, et un livre de comptes officieux incluant le hors bilan pour les insiders, est devenue le standard de toute l'économie, jusqu'aux États, comme on a pu le voir avec la Grèce... C'est vraiment la plus élémentaire honnêteté et transparence qui est en jeu...

ELIZABETH WARREN: Until we build a chapter 11 system, a resolution authority system, whatever we want to call this, until we build the part of the legal structure that permits us as a people to say with real credibility behind it, "credibility" is the underlying word here -- I don’t care what your business is. I don’t care how big you are, I don’t care how intertwined you are. If you make bad enough decisions, you can be liquidated. It’s over.

Ils faut vraiment en finir avec le Too Big To Fail.

ELIZABETH WARREN: To come in and rescue under those circumstances, I get it, that happens. That’s what bankruptcy’s about. That says the participants in the old one don’t get it.

ELIZABETH WARREN: Come on. Bankruptcy lawyers work around the clock all the time...We do it with lots of financial institutions.

Wiping out shareholders who were the people who invested and who had profited from all of the mistakes that these companies had made for years and years and years before that, that’s not hard. That’s not rocket science. That’s just a difference on who gets to sit at the table and who gets to walk away with money.

Sur le sauvetage tel qu'il a été conçu où actionnaires et équipes dirigeantes faillies ont été sauvées, ça n'aurait jamais dû avoir lieu... Il n'y avait aucune nécessité à sauver ces gens là pour soit disant empêcher le système de s'écrouler. Gérer des banqueroutes, rincer les actionnaires, réduire la dette des créanciers et foutre dehors les dirigeants faillis, c'est de la routine.

CHARLIE ROSE: Joe Stiglitz, who you know who was here last night, basically says he fears we’ll see a double dip recession, so the economy has to do with inventory and the end of the stimulus and a whole range of issues, unemployment staying where it is.

Do you have that kind of, even though you’re a lawyer and not an economist, fear about this economy?
ELIZABETH WARREN: I am afraid. I’m afraid because of what I see in the real economy. I’m afraid because I don’t see books that are clean, balance sheets that have been cleaned up. I’m afraid because in October of 2008, Secretary Paulson came to the American people and he said the problem is toxic assets on the books of the banks, and they’re still there.

CHARLIE ROSE: Although they’re worth more than they were.

ELIZABETH WARREN: Lucky us.

I’m afraid because Secretary Paulson said there’s too much concentration in the banking industry, and there’s even more concentration today than there was --

Sur l'imminence d'un double dip... Les bilans des banques sont toujours aussi affreux. Même si le Mark to Fantasy permet de créer des profits fantomes à se distribuer entre banksters (ça c'est de moi ).

CHARLIE ROSE: I hear you as saying that the mindset of the people making the economic decisions in Washington, Larry Summers, Tim Geithner, Christina Romer, and others, they look at the world through the wrong experience. You might want to include Christine not in that, but certainly Summers and Geithner.

Do you think their experience has been too connected to the point of view that does not allow them to make the optimal decision? I tried to make that as easy as I could.

ELIZABETH WARREN: I think we have different worldviews.

CHARLIE ROSE: You and them?

ELIZABETH WARREN: Yes. I just don’t think we see the world the same way.

CHARLIE ROSE: And so therefore they shouldn’t be in place.

ELIZABETH WARREN: Well, I’m going to say it differently. I think that Summers and Geithner are smart. I think they’re honorable. I think they approach the economy and the world through the largest institutions. And they see the world from a top-down perspective.

I spent 25 years somewhere else.

CHARLIE ROSE: Academia?

ELIZABETH WARREN: No, come on. Summers and I started in the same place.

CHARLIE ROSE: I know.

ELIZABETH WARREN: It will not save us if a handful of Wall Street banks prosper and the rest of America fails.

Et enfin, sur Summers et Geithner, elle sous entend à peine qu'ils ne bossent pas pour l'Amérique, mais contre elle, pour la mafia de Wall Street.

[Paf La Bulle !]

Elle est intervient dans l'excellent "LES ETATS-UNIS : UNE MORT A CREDIT ?"
Le documentaire fait froid dans le dos (mentalité américaine, laxisme des autorités, cynisme des banques...).

[lecriminel]

[lecriminel]

je profite de la remontée de ce fil pour demander si quelqu'un connaît la proportion du montant des amendes qui tombent dans l'escarcelle d'Atos, je suis preneur de l'info.

[Praséodyme]

je profite de la remontée de ce fil pour demander si quelqu'un connaît la proportion du montant des amendes qui tombent dans l'escarcelle d'Atos, je suis preneur de l'info.

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