Anyone remember how many billions, HSBC, Europe's largest beggar bank, borrowed secretly from The Bernank at 0% during 2008-2009... ?
Or as an AIG counterparty via Goldman Sachs... $3.5 billion.
Either the CFTC has known about potential fraud at PFG since 2010, or they've been poring over the books for the last 20 hours and just discovered it.
Which sounds more plausible... ?
Couldn't we simply fast-forward through the various Congressional dog-and-poney LIBOR events until Dimon and Blankfein sit before the Senate and explain to their minions that there was absolutely no fraud. Not here, not there, not anywhere.
Runs 2 minutes.
Peter Brandt discusses his mistrust of the CFTC's investigation into Peregrine Financial Group after the federal regulator's handling of MF Global.
"I expect to lose money because of the complete incompetence of federal regulators."
"The CFTC is the get-away driver of the robbery."
"I have no trust and no faith that the CFTC is capable of handling this mess."
Two brilliant photos from William Banzai inside.
This story must have slipped through the crack in Jon Corzine's prison-soap fantasy.
The porn-addled SEC blew the Stanford case in the face of multiple internal warnings, and typically, they respond in face-saving fashion by trying to steal billions from taxpayers to cover losses for Stanford investors, who do not qualify for reimbursement under government guidelines.
Countdown for the SEC to petition the White House to circumvent the ruling starts now...
Bank of England Governor Paul Tucker talks about his call with Barclays former CEO Robert Diamond. He spoke to Parliament’s Treasury Committee in London earlier today.
Watch his hand movement starting at the 37 second mark. He almost covers his mouth a few seconds later. He's lying.
More inside.
Summary from Bloomberg. Runs 2 minutes.
Jul 11, 2012 at 12:30 PM
