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
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.
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.
The Lobbyists are gearing up in hopes of obtaining more methods to flood the U.S. labor market with cheap, controllable foreign labor. The target is to include their agenda in the upcoming Comprehensive Immigration Reform legislation. As a result, we have been inundated with lobbyists lies, planted articles and even faux pas Congressional hearings, all geared to media spin the public. CEOs are even having summits, all to make sure they obtain more foreign labor so these businesses do not have to hire Americans.
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.
The Dow hit a record high yet for most of America this means little. While some fawn and fan over the high rise stock market, here are some stories that actually matter to real people with real lives.
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