Results for Shah Gilani
Warning: This is Not Another Wall Street Conspiracy Theory, These are the Facts
Just last week, the House Committee on Oversight and Government Reform held a hearing on the U.S. Federal Reserve’s decision to directly pay billions of dollars to banks as part of its scheme to bail out insurance giant American International Group Inc. (NYSE: AIG).
According to committee Chairman Dennis Kucinich, D-Ohio, the testimony that congressmen heard just didn’t “pass the smell test.”
What really stinks about the whole mess is not only the cover-up of what really happened and why, but the inability of anybody in Congress to actually do their homework and be able to frame pointed questions and get to the truth.
It’s not complicated, but it is convoluted. Here are the facts and some questions that Congress needs to ask – and that the American people deserve straight answers to.
Wall Street’s Stranglehold on the Economy Is Choking Americans
America’s Founding Fathers were afraid of any concentration of power in the republic. They were particularly afraid that banking interests could hijack our fledgling democracy.
And yet today, 234 years later, our Founding Fathers’ worst fears have come true. Wall Street’s stranglehold on the economy threatens our very prosperity, and the future of a truly democratic republic.
It’s high time we address the truth about Wall Street’s tyranny and set a course for a more secure economic future – one that’s anchored by a safe banking system, not a system rigged by banks.
“Financial Reform” Just Camouflage for Wall Street’s Latest Power Play
Anti-Wall Street sentiment makes for a good cover, but behind the scenes and rhetoric, legislators are working with the country’s largest financial firms to fashion a new system that concentrates even more risk and reward at fewer banks.
And what’s more, the underlying socialization of the system will guarantee the success of excess with the full faith and credit of taxpayers.
On Dec. 11, the U.S. House of Representatives passed the Wall Street Reform and Consumer Protection Act of 2009, which among other things, creates a consumer protection agency, strips the U.S. Federal Reserve of certain powers and subjects it to politicization, calls for big banks to finance a $150 billion bailout fund and gives the government power to break up or coddle financial firms as they see fit.
The Senate will try and reconcile the House bill with an earlier version of its own bill. Legislators are hoping to have a final bill ready sometime in early 2010.
But, in a testament to the power of Wall Street, what’s on the table is what works for bankers and the Street. The resulting de-facto socialization of American banking is nothing more than Wall Street’s secret agenda to eliminate competition, grow bigger profit engines and rely on the perception of a socialized system to support cheap funding.
The Two Secrets to Successful Market Timing
Many so-called experts would have you believe that it’s impossible to “time” the markets. They’re wrong. There is a secret to market timing. And, investors who know what to look for will be able to lock in extreme profits.
Anatomy of a Scam: This “Prime Bank Program” Has Already Cost Investors Billions
Two years ago, an associate of mine lost $100,000 because he didn’t listen to me. A year ago, I saved a manufacturing company from the same scam. And just last week I saved a friend of mine $300,000.
For several years…
Anatomy of a Scam: This “Prime Bank Program” Has Already Cost Investors Billions
Two years ago, an associate of mine lost $100,000 because he didn’t listen to me. A year ago, I saved a manufacturing company from the same scam. And just last week I saved a friend of mine $300,000.
For several years…
Will Taxpayers Have to Bail Out the FHA?
Government officials testifying before Congress on Thursday staunchly denied that the Federal Housing Administration (FHA) is destined to be the next financial institution to require a taxpayer bailout.
But at least one critic testified that the agency is about to burn through…
Special Report: How the Government is Setting Us Up for a Second Subprime Crisis
[Editor's Note: Shah Gilani, a retired hedge fund manager and noted expert on the global credit crisis, predicted this developing FHA debacle in a July 2008 Money Morning essay.]
Is the government creating another subprime-mortgage bubble?
The first time around, the three-headed federal…
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