Daily Archives: December 11, 2014

Can Anyone Transplant a Spine into Obama to Kill Citi’s Bailout Bill?

By William K. Black
Bloomington, MN: December 12, 2014

President Obama is a terrible negotiator and if Senator Warren and Representative Pelosi are unable to save him from himself he will effectively end his presidency as even an episodic force for good.  Yes, the Republican legislators will have more power in Congress next month.  Obama’s justification for supporting the odious omnibus budget bill is avoiding that danger.  No, the fact that the Republican will take control of both houses in January does not mean that Obama would be forced into approving an even worse budget bill next year.

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The Second Circuit Makes Sophisticated Insider Trading the Perfect Crime

By William K. Black
Bloomington, MN: December 10, 2014

We know that insider trading is an activity in which cheaters prosper. We know that Wall Street and the City of London are dominated by a fraudulent culture and we know that firm culture is set by the officers that control the firm. We know that the Department of Justice (DOJ) has allowed that to occur by refusing to prosecute any of the thousands of senior bank officers who became wealthy by leading the three most destructive financial fraud epidemics (appraisals, “liar’s” loans, and fraudulent sales of these fraudulently originated mortgages to the secondary market) in history. No one is surprised that Wall Street’s elites have also engaged in widespread efforts to rig the stock markets so that they can shoot fish in the barrel through insider trading. Unlike the three fraud epidemics, one DOJ office, the Southern District of New York, has brought a series of criminal prosecutions against these officers.

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