741 Tax Returns Filed From Single Florida Address, IRS Refunds More Than $1 Million (LINKS)

Afternoon reading from around the web:

• Fed & Treasury Regulators irate at NY State solo action against Standard Chartered
• 741 Tax Returns Filed From Single Florida Address, IRS Refunds Over $1 Million
• Libor, Naked and Exposed - NYT Editorial by CFTC Chairman Gary Gensler
• Drone Pilots Waiting for a Kill Shot 7,000 Miles Away - NYT
• A Hundred Horses Are Ford’s Pride After Flipping Bailed-Out Banks - Bloomberg
• Mark Hulbert: More bulls now than at the May 1 bull market peak
• Don’t get suckered by the Draghi put
• SEC's new ‘Flash Crash’ rules made Knight keep bad trades
• Recession Generation Opts To Rent Not Buy Houses Or Cars - Bloomberg
• Loughner pleads guilty to 19 counts - Gabby Giffords Shooter

Comments

[LiberatedCitizen]

Speaking of drones

Beware the Unfriendly Skies

http://moonbattery.com/?p=15328

Let the Domestic Drone Age Begin

http://www.theamericanconservative.com/let-the-domestic-drone-age-begin/

To go with your Fisher video wow just look how words move the markets

S&P 500 Snaps Three-Day Rally After Fed Fisher’s Remarks

http://www.bloomberg.com/news/2012-08-08/s-p-500-snaps-three-day-rally-after-fed-fisher-s-remarks.html

Dollars to donuts though Ben the Marxist won't listen he will QE for obama after that all bets are off come on in suckers

Is the Market Rally Just a Set-Up for a Bigger 'Collapse'?

http://www.cnbc.com/id/48564275

What the Fed's policy's aren't dollar friendly (sarc)

Why $9 Corn Could Be a Big Problem for the Economy

snippet..

However, other forces could come into play to put a floor under food prices. The Federal Reserve's monetary policy is not dollar-friendly, so if the U.S. currency starts falling that could push commodity prices higher.

in full

http://www.cnbc.com/id/48570689

Food Supply Shock—$10 Corn Coming: Top Hedge Fund Manager

http://www.cnbc.com/id/48556504

Outrageous the Fed's stance on Standard Chartered!

NYS Order on Standard Chartered’s Iran Transfers Opens Up US, UK Regulatory Pig Fight

http://www.nakedcapitalism.com/2012/08/nys-order-on-standard-chartereds-iran-transfers-opens-up-us-uk-regulatory-pig-fight.html

Is America Bullying Foreign Banks? (cough cough hard to get over the thought that they get a lot of attention actually they get nothing but fines they pass on to customers but to put things in perspective)

snippet

If it seems like foreign banks get a lot of attention from U.S. regulators, that may be because foreign banks have such a large presence in the U.S. According to the most recent data from the Federal Reserve, foreign banks in the U.S. have $2.1 trillion in assets. That’s over 16 percent of the total commercial banking assets in the entire country.

There’s no doubt that the banking lobby is highly influential with regulators and lawmakers. But foreign banks are part of that lobby. Barclays [BCS Loading... () ], for example, spent over $2.8 million lobbying last year. Bank of America [BAC Loading... () ], America's second-largest domestic bank, spent only $3.2 million, according to OpenSecrets.org.

Capitol Hill may be on the payroll of banks, but a lot of that money is coming from foreign banks.

in full

http://www.cnbc.com/id/46484789

[SKINFLINT]

What is the Fed to do? Well how about revoke the charter of these banks and start issuing currency directly from the treasury.http://www.bloomberg.com/news/2012-08-09/what-s-fed-to-do-as-15-of-18-banks-fixing-libor-aren-t-american.html