As the jobs crisis continues industry and government collude together on policies and agendas which won't help the nation. Here are some of their latest outrageous activities.
Another bank ripoff and another lawsuit dismissed. The Libor manipulation scandal spurred private investors and others to sue the banks over their losses. A judge just threw out major portions of their case. There were at least 22 Plaintiffs. Now groups like the City of Baltimore are out of luck in recovering all of their losses due to banks manipulating a key interest rate.
Tonight's Friday Night Video is a collection of news and interview clips that need to be seen to be believed. The first is a report from NBC Rock Center on how people are getting their identities stolen and then ripped off. If that wasn't bad enough, identity thieves are filing bogus tax returns and collecting the refunds
Do you still want to hold your money in Italian banks? What about Spanish banks, or even in the United States? The Cyprus bail-out, or bail-in as the EU likes to call it, has not put those questions to rest. They’ve become even more urgent now that the Troika – the alliance of European Union, European Central Bank, and IMF bureaucrats who spend their time going from one country bailout to another – have decided that depositors will be on the hook the next time a bank goes under.
It is 2013 and a dirty little secret is once again coming to light. Silicon valley is devoid of women computer scientists and engineers. It all started at a tech conference where two men in the audience were engaging in tech's typical juvenile sex jokes chatter with a woman techie sitting right in front of them.
The Cyprus Parliament rejected a bail out plan that would have seized almost 10% of private savings deposits and used the money to bail out Cyprus banks. The vote was almost unaminous.
The United States has so many “wars” on its hands that no one can keep them all straight. The War on Terror, the War on Drugs, the War in Afghanistan, the Drone War, the War on Women, the War in Iraq. To this must be added a quiet war, begun in 2008 as a response to the financial crisis, and so low key that it doesn’t deserve capital letters – the war on savers.
Size matters when it comes to bank bail outs and European politics. In the most brazen bail out deal yet, the citizens of Cyprus just had their savings seized to give the money to the banks. I kid you not. Here is the Eurogroup statement:
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy! Tonight's documentary is Money & Speed: Inside the Black Box. It is a nanosecond by nanosecond account of the May 6th, 2010 flash crash, the most famous of sudden jolts to the markets due to automated computerized trading.
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