Economic News

TPP: Hollywood, Big Pharma and Global Think-Tanks ‘Merge’ in Trade Takeover

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21st Century Wire - Shawn Helton, 12/03/13
 

USTR plays an important role in the TPP and throughout USTR’S history, many of their officials have taken high-profile positions in favor of Hollywood, the pharmaceutical industry, record companies and technology based firms, all of which, have advocated for stronger property rights. 

Here’s something important many critics of TPP have missed: In addition to USTR’s ties to industry giants, they’ve also been directly linked to the secretive think-tank known as The Trilateral Commission, having had 9 members appointed as head of USTR since 1977. This is of great significance in understanding who’s really been behind the scenes in the implementation of international trade treaties.

More: 21stcenturywire.com

 

Oligarchy in the Holy Land — Tiny Number of Families Dominates Israel's Economy

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AlterNet - Alex Kane, 12/02/13
 

After America, Israel is the most unequal "rich" country in the world when it comes to wealth.
 
 
The vast gulf between the American elite and the rest of the nation has increasingly been a hot topic of conversation since the 2008 economic crash. The 400 richest Americans have the same amount of wealth as the  bottom 50% of the American population. 

But most Americans probably don't know that the 2nd most unequal "rich" country is the close ally and client state of Israel, whose own oligarchs own a significant slice of the Israeli economy.

Iceland thumbs nose at international opposition to advance $1.2bn debt relief plan

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RT - Edited 12/02/13

 

A general view of houses in the town of Vik in southern Iceland.(Reuters/ Ingolfur Juliusson)

A general view of houses in the town of Vik in southern Iceland.
(Reuters/ Ingolfur Juliusson)

 

Iceland’s government has announced that it will be writing off up to 24,000 euros ($32,600) of every household’s mortgage, fulfilling its election promise, despite overwhelming criticism from international financial institutions.

International organizations have confronted the idea with criticism. The International Monetary Fund (IMF) and the Organization for Economic Cooperation and Development (OECD) have advised against it, citing economic concerns.
 

More: RT.com

 

The Money Changers Serenade: A New Plot Hatches

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Blacklisted News - 12/01/13, Paul Craig Roberts

http://www.realitychex.com/storage/congressman-moneybags.jpg?__SQUARESPACE_CACHEVERSION=1340066456318

Former Treasury Secretary Timothy Geithner, a protege of Treasury Secretaries Rubin and Summers, has received his reward for continuing the Rubin-Summers-Paulson policy of supporting the “banks too big to fail” at the expense of the economy and American people. For his service to the handful of gigantic banks, whose existence attests to the fact that the Anti-Trust Act is a dead-letter law, Geithner has been appointed president and managing director of the private equity firm, Warburg Pincus and is on his way to his fortune.

A Warburg in-law financed Woodrow Wilson’s presidential campaign. Part of the reward was Wilson’s appointment of Paul Warburg to the first Federal Reserve Board. The symbiotic relationship between presidents and bankers has continued ever since. The same small clique continues to wield financial power.

More: blacklistednews.com

Figures reveal top British bankers' salaries soared by more than a THIRD in 2012

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Britain's banks show they have learned nothing as figures reveal top bankers' salaries soared by more than a THIRD in 2012

Mail Online - 11/29/13, Matt West

Bonus culture: There have been numerous protests against the amount bankers are paid in bonuses in the past but the EBA data suggests they have achieved nothing

Bonus culture: There have been numerous protests against the amount bankers are paid in bonuses in the past but the EBA data suggests they have achieved nothing
 

Profits soar at UK energy suppliers

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Belfast Telegraph - 11/25/13

Profits for the Big Six energy companies have leapt to more than one billion pounds since 2009, according to regulator Ofgem
 

The figures show that together British Gas, E.ON, EDF, npower, ScottishPower and SSE recorded underlying earnings - before interest payments and tax - of £1.19 billion in 2012, up from £221 million in 2009.

But TUC General Secretary Frances O'Grady said: "Ofgem show excess profits are the real source of soaring energy bills.

Ignorance is Bliss?

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GFP Note: We are presenting this for your awareness. We encourage you to observe and understand what has happened in the illusion but not to react. The illusion and the cabal are dissolving and there is nothing to fear, ever. Love Wins!

 

Federal Judge Slams DoJ for Not Prosecuting Wall Street Execs

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Source: Common Dreams - 11/14/13

 

The "'too big to jail excuse' is mindboggling in what it says about the department's disregard of fundamental legal principles," said Rakoff

- Andrea Germanos, staff writer

A federal judge with a history of slamming the regulatory system issued scathing remarks against the Department of Justice on Tuesday for allowing Wall Street executives to escape criminal prosecutions.

Photo: Satish Indofunk/cc/flickr
 

Elizabeth Warren to Wall Street Regulators: Put Big Bank CEOs in Jail

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Mother Jones - 10/23/13, Erika Eichelberger

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This past weekend, the Department of Justice slapped a record fine on JPMorgan Chase for packaging and selling the mortgage-backed financial products that helped cause the financial meltdown. But Sen. Elizabeth Warren (D-Mass.) wants the administration to know that fines are not enough. On Wednesday, she called on Wall Street regulators to hold all those responsible for the 2008 crisis accountable.

UK Judge Makes Wall Street Journal Yank Names From Libor Scandal Story

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A UK Judge Makes The Wall Street Journal
Yank Names From A Libor Scandal Story

Business Insider - 10/18/13, Steven Perlberg

wall street journal

 

Yesterday, the Wall Street Journal ran a story revealing that the U.K. government planned to implicate as many as 24 people in a criminal fraud case related to the Libor scandal.

 

And the Journal named names.

 

More: BusinessInsider.com

 

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