Be afraid, very afraid

nitro · Jun 8, 2015

http://money.cnn.com/2015/06/08/tec....html?iid=ob_homepage_tech_pool&iid=obnetwork

Almost there. I have to understand the technology more carefully, but I am nearly certain there is a bank backing this so it cannot be a final answer. In the future, there will be an app where you will be your own bank. You will also lend to people from your own bank. There is no need for the current banks as middle men.

nitro · Jun 8, 2015

I don't know about this program, but it is worth investigating it..

"Why Isn't Everyone Using This Refi Plan? Here's Why...

...Banks don't want homeowners to know about it because they hate what this program could do to them. HARP helps homeowners refinance at today's historically low rates and switch to 15 year fixed rate mortgages. That helps homeowners save up to $190,000, which means homeowners who use HARP could take as much as $190,000 out of banks pockets and put it back into theirs..."

https://www.lowermybills.com/lendin...=65624&utm_source=taboola&utm_medium=referral

nitro · Jun 9, 2015

The bank that was ‘too big to jail’ will lay off 25,000 workers - HSBC

http://www.washingtonpost.com/blogs...was-too-big-to-jail-to-lay-off-25000-workers/

Now they are going into Asia to blood suck those guys. And, they are leaving London since they don't like the taxes.

May they "valla con dios"

piezoe · Jun 9, 2015

nitro said:
I don't know about this program, but it is worth investigating it..

"Why Isn't Everyone Using This Refi Plan? Here's Why...

...Banks don't want homeowners to know about it because they hate what this program could do to them. HARP helps homeowners refinance at today's historically low rates and switch to 15 year fixed rate mortgages. That helps homeowners save up to $190,000, which means homeowners who use HARP could take as much as $190,000 out of banks pockets and put it back into theirs..."

https://www.lowermybills.com/lendin...=65624&utm_source=taboola&utm_medium=referral

I have to question this: "...Banks don't want homeowners to know about it ..."
My bank, Chase, sent letters to those whose mortgages it services telling them they could choose to refinance at fixed terms, zero refinance cost, and offering extraordinarily low fixed interest. I only later learned that this was apparently HARP in action. There has got to be Federal subsidy of banks in action here. I already had a low interest, short, fixed term mortgage with little principle balance, but the terms offered me by Chase seemed too good to pass up. I took the offer to my local banker, and he couldn't find any catch either. It dropped my interest from 5 to 3.25. Normally, because of transaction costs that would be a borderline refinance, but under the no cost offer, it was a no brainer. Free money as far as I'm concerned.

nitro · Jul 18, 2015

How Elizabeth Warren’s Populist Fury is Remaking Democratic Politics

"Begin with the anonymous pamphlets left scattered amid the ketchup and mustard packets at Hillary Clinton’s Fourth of July weekend rally in Hanover, N.H. “As Secretary of State, I saw how extreme economic inequality has corrupted other societies,” the sheet read, quoting Clinton from a speech. Those words appeared just above the corporate logos of companies whose employees gave the most to Clinton’s campaigns—JPMorgan Chase, Citigroup and Goldman Sachs, among others. A punch line followed: “Do you believe her?”..."

http://time.com/3951176/up-with-people/

loyek590 · Jul 19, 2015

oh!!! The drama is just killing me! I haven't been this nervous since I bet $2 on Pharoah to win the derby!

nitro · Nov 17, 2015

Wall Street Is Running the World's Central Banks

"Wall Street is again leading to the corridors of central banks.

From Minneapolis to Paris, investors and financiers are increasingly being hired to help set monetary policy less than a decade since the banking crisis roiled the world economy and chilled their public-sector employment prospects.

Academic studies of historical voting records at central banks suggest the new trend may mean an increased bias towards tighter monetary policy.

Last week’s appointment of Neel Kashkari to run the Federal Reserve Bank of Minneapolis as of January means a third of the Fed’s 12 district banks will soon be run by officials with past ties to Goldman Sachs Group Inc.

Kashkari also worked for Pacific Investment Management Co. and managed the U.S. Treasury’s $700 billion rescue of banks during the financial crisis..."

http://www.bloomberg.com/news/artic...return-to-central-banking-may-mean-for-policy

der_kommissar · Nov 17, 2015

Old news...this was something of a revelation back in 2008.

piezoe · Nov 19, 2015

loyek590 said:
oh!!! The drama is just killing me! I haven't been this nervous since I bet $2 on Pharoah to win the derby!

LOL

nitro said:
View attachment 159333

Wall Street Is Running the World's Central Banks

"Wall Street is again leading to the corridors of central banks.

From Minneapolis to Paris, investors and financiers are increasingly being hired to help set monetary policy less than a decade since the banking crisis roiled the world economy and chilled their public-sector employment prospects.

Academic studies of historical voting records at central banks suggest the new trend may mean an increased bias towards tighter monetary policy.

Last week’s appointment of Neel Kashkari to run the Federal Reserve Bank of Minneapolis as of January means a third of the Fed’s 12 district banks will soon be run by officials with past ties to Goldman Sachs Group Inc.

Kashkari also worked for Pacific Investment Management Co. and managed the U.S. Treasury’s $700 billion rescue of banks during the financial crisis..."

http://www.bloomberg.com/news/artic...return-to-central-banking-may-mean-for-policy

http://www.huffingtonpost.com/entry/federal-reserve-goldman-sachs_564218fee4b0307f2caf02e6 from which came:

“the fact that I had went [sic] to Wharton and got my MBA and worked at Goldman are all fine, but I really relied on my engineering skills as a research engineer working on NASA missions,” Kashkari told The Wall Street Journal, employing the rarely used "people criticize me for being a banker, but really I’m a rocket scientist" tactic of feigning modesty.

I'm convinced he is telling the truth. He is an engineer to be sure. Otherwise he would have said, "... the fact that I had gone to Wharton ..." !!!

See also: https://en.wikipedia.org/wiki/Neel_Kashkari

Kashkari looks like an excellent choice to me. Kudos to the Fed once again. Paulson wouldn't have brought him along to the Treasury had he not had great confidence in him. The level of competence and experience at the Fed, from the Branch Bank Presidents up through the BOG, is truly outstanding at present. I am pleased that Kashkari's educational background is not in economics. We can make good use of Kashkari's broader experience and alternative point of view at the Fed. We already have enough top notch economists there.

der_kommissar · Nov 19, 2015

piezoe said:
LOL

Kashkari looks like an excellent choice to me. Kudos to the Fed once again. Paulson wouldn't have brought him along to the Treasury had he not had great confidence in him. The level of competence and experience at the Fed, from the Branch Bank Presidents up through the BOG, is truly outstanding at present. I am pleased that Kashkari's educational background is not in economics. We can make good use of Kashkari's broader experience and alternative point of view at the Fed. We already have enough top notch economists there.

If you weren't such an over the top slurper, I'd say this is some great satire...