Banks out of Control 4 VIDEOS ...Wake you foolish people!!!!!!!!

Keiser Report 33: 13 April 2010: Special Greenspan Bubble edition

RussiaToday — April 13, 2010 —





This time Max Keiser and co-host Stacy Herbert look at the scandals of financial crisis show trials in America; Citigroup alleges they could not possibly have predicted the collapse of a very obvious housing bubble; and former Fed Chairman, Alan Greenspan, tells the show trial commissioners that the financial world is far too complex for mere mortals. In the second half of the show, Max talks to economist Dean Baker about Citigroup’s alleged profits.
Category: News & Politics
Tags: RT Max Keiser Stacy Herbert Alan Greenspan Federal Reserve bank American economy City Bank Dean Baker Citigroup

SEC Charges Goldman Sachs with Subprime Fraud

Stacy Summary: This is a surprise.  Was it the record bonuses?  Or the Gods’ Work thing?  Mind you, these are just civil  the question is, where is the Dept of Justice with the criminal charges?  Or will the perp walks be rolled out the month before mid-term elections?  And can JPMorgan be far behind?  They were pushing Magnetar’s similarly constructed CDOs to institutional investors (ie your pension fund) far and wide.

• Goldman Sachs Charged with Fraud

• Financial Shares Tumble on Goldman Charges

[KR34] Keiser Report – Markets! Finance! Scandal! And Birgitta Jonsdottir!!

April 15th, 2010 by stacyherbert

Stacy Summary: In this episode we look at the scandals of Greece winning a loan; the exodus from Iceland while billionaire plunderers receive safe haven in London; and the dumping of US Treasury bonds as American consumers are about to get squished. In the second half of the show, Max talks to Birgitta Jonsdottir, a Member of Parliament in Iceland, about the Black Report into the country’s banking collapse.

Japan’s ruling party has called for drastic monetary easing to devalue the yen by 30pc and halt the slide into deflation, putting it on a collision course with the Bank of Japan.

By Ambrose Evans-Pritchard

Published: 6:00AM BST 14 Apr 2010

Comments 20 | Comment on this article

Lawmakers from the Democratic Party of Japan called for the exchange rate to be steered to ¥120 against the dollar, from around ¥90 currently. Photo: Bloomberg

A draft by 130 lawmakers from premier Yukio Hatoyama’s Democratic Party of Japan said the country needs a radical shift towards growth policies, calling for an inflation target above 2pc. The exchange rate should be steered to ¥120 against the dollar, from the current ¥90.

Shizuka Kamei, financial affairs minister, said the central bank must monetise government debt to support the market for state bonds and prevent deflation becoming deeply lodged in the economy.

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Japan mulls monetisation of public debt and yen devaluation
The Bank of Japan’s governor, Masaaki Shirakawa, told lawmakers that it would illegal to fund state spending by printing money. “History has proven that central banks directly buying government securities caused severe inflation and dealt a blow to the economy. The BoJ is now providing adequate funds,” he said.

Tokyo is still able to issue 10-year bonds at ultra-low rates of 1.4pc, relying on a captive savings market, even though gross public debt will reach 225pc of GDP this year, the highest in the world.

However, there are growing fears of a “malign scenario” where rising rates set off a debt compound spiral. The IMF has warned that borrowing costs may rise sharply as Japan’s aging crisis bites in earnest.

Junko Nishioka, an economist for RBS, said the BoJ is haunted by hyperinflation after World War Two. It is afraid debt monetisation could back-fire, triggering the very crisis that everybody fears. “We don’t think a fiscal accident is likely yet. Pension funds will keep buying debt for another five or six years. After that pressure increases,” she said.