While America worries about Trillary, Germany preparing Deutsche Bank bailout plan, reports claim

Yes, yes, everything is fine economically. So what if the largest FOREX trader in the world and the globe’s 11th largest bank is teetering because after all this time the DOJ in America finally decided to levy a fine of consequence against a major bank.

My question is why is the US trying to break Deutsche Bank? If it wrote fraudulent mortgages and packaged fraudulent mortgage backed securities it deserves to feel pain. But other banks got off with wrist slaps.

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I called the Wells Fargo ethics line and was fired (Where is Warren Buffett, who controls 10% of Wells Fargo, on this?)

Image: AP

Wells Fargo is Warren Buffett’s bank. (He holds 10% of it.)

Wells thought it could weather the current fraud storm just by firing a bunch of underlings. But the underlings weren’t the ones who developed and encouraged the fraudulent policy of charging clients for “ghost accounts.” It was company leadership.

Seems this sort of thing is (supposedly) anathema to Warren’s down homey philosophy of finance. One would think he’d want to weigh in and set shareholders,

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Central Banks May Choose Helicopter Money Over Negative Rates

Here comes the Fed…Hooray.

The definition of “helicopter money” appears to be shifting a bit. Generally it means pouring currency (printed by a central bank) into the economic system by directly depositing it into accounts. What type of accounts appears to be an open question. Whatever the Fed chooses (assuming that it does) it is a bad idea however.

How about we let rates adjust to where they should be naturally? How about we let things clear. How about we get real now,

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The Obama legacy: An economy choking on red tape

Obama does not get business. He is a product of prep-school and then found his way into Columbia and Harvard. Then he became a “community organizer” in the Saul Alinsky tradition in Chicago. Then he became a politician. He hasn’t spent any time in the world in which most Americans live.

Indeed Obama has been downright hostile to commerce and the private sector since the beginning of his presidency. Remember the “you didn’t build that

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What industries gave to Hillary, Trump, and Gary Johnson this election cycle (Graphs)

Money is the mother’s milk of of American politics. So let’s see who’s giving it up.

First Hillary.

So the banks are number 1 giving almost $50 million to date. Let’s look at individual contributors.

Again we see the hedge funds represented at the top. Good to see Soros and Co. nestled in there.

Now Trump by industry.

The numbers are considerably smaller. Banks not on the list.

And individual contributors.

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Shameful and is it even legal? Look Who’s Getting That Bank Settlement Cash – Chicago/3rd World politics

The one on the right just got impeached for using her office to line the pockets of her friends and political allies.

A friend of mine asked how this was even legal. I sure as heck don’t know.

Fine the banks for billions and then take that money and just give it to Obama supporters and friends? Third world politics totally. Chicago politics totally. We have definitely regressed as a country over the last decade.

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Why can’t Brazil get it together? Crony Capitalism

For all the cronyism we have in the United States, and we have plenty and it is growing, Brazil is far beyond us. It is truly a crony capitalist state through and through. It has probably always been but the country’s recent socialist leaders haven’t helped things.

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The TEA Party was Murdered – and it was an Inside Job

The TEA Party was, and sadly we must now use the past tense, a ray of light in a time of enveloping gloom. After the exasperation caused by George Bush and his profligate spending and foreign adventurism, the bailouts of the banks, and the ascendancy of Barack Obama who promised only more profligacy, people rose up and said – no more!

This was the TEA Party. TAXED – ENOUGH – ALREADY.

Most people who care tie its birth to the below rant by Rick Santelli on CNBC.

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Living differently can be very rewarding (VIDEO)

This particular video has nothing to do with cronyism, aside I suppose from the fact that these people have left the modern life loop which is so dominated by cronyism.

Most of us are caught up in the hustle and bustle of modern suburban and urban life and every once in a while it’s good to see that there are other ways of living. Often life change is just a matter of realizing what is possible. So I post.

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Goldman Fined 0.1% Of Revenue For “Criminal Theft” Of Confidential Fed Information

This, dear readers, is how it works. The rules, as we saw with the Comey announcement a few weeks ago do not apply to everyone. Some people and banks are even too big to even embarrass or shame, never mind fail or jail.

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Barack Obama Will Be The Only President In History To Never Have A Year Of 3% GDP Growth

Wonder why a large part of the population is spitting mad? This is a big part of it.

Yet another indictment of Keynesian Kult nonsense. Had we let the markets clear post 2008, the stock market, the housing market, other markets, we would have had robust and real growth in relatively short order. People would have been able to build on honest to goodness, market for-realsies growth. But markets must clear for the economy to heal itself.

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In The Hamptons, the (Crony Class) and Those Who Serve Them See Two Elections

The split illustrated in this article is the same split I see in America generally. Those who have done well since 2008, people in banking, in government, teachers, academia, all areas of the economy which have benefited from our crony system (which exploits the middle class) seem to lean Hillary. Those who are on the outs in the crony economy tend to favor other candidates be they Trump, Johnson, Bernie, or now Jill Stein.

Remember Mr. Bailout, Mr.

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Crony Capitalism On Parade: The Dem Convention Is One Big Corporate Bribe

It’s not just the Democratic convention. There’s plenty of this sort of thing going on at Republican get-togethers. However, this year, some corporations were afraid to associate themselves with Trump and so the parties at the RNC weren’t as good as usual by some accounts.

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