Geithner Plunders Retirement Accounts, CEO Pay Skyrockets, The Next Financial Crisis, Bid-Rigging In Foreclosure Auctions, The Mystery $100M ATM Receipt, Afghan Bank Fraud Revealed (20 LINKS)
Links from around the web.
California Prison Psychiatrist Paid $838,706
Bid-Rigging Investors Plead Guilty To Fixing Foreclosure Auctions
The Stock Market Is Overvalued Between 48% And 61% - CHARTS
Where Taxes Are So Low, Some People Might Actually Pay…
The next, worse financial crisis - Ten reasons why we are doomed to repeat 2008
Geithner Plunders Retirement Accounts The Most Since Debt Ceiling Breach
Did Paulson Receive Preferential Terms From Dealers When Selling Lehman Bonds?
No stopping ECB rate hike Thursday, economists say
E.U. complains publicly about Moody's downgrade of Portugal to JUNK
Portuguese Bonds Hit 12% For First Time Ever After Moody's Downgrade
No recession for Obama's 454 White House aides: They'll make $37M this year
'Billions worth' of treasure found in Indian temple
What Recession? - How to get paid like a U.S. CEO
Netherlands to Levy Bank Tax of at Least 300 Million Euros
In U.S. Monetary Policy, a Boon to Banks - ProPublica
Whose $100 Million ATM Receipt Is This?
Weak economy may force second bailout of Ireland - Reuters
New York Fed Halts FAILED AIG Bond Auctions on Market Conditions - Bloomberg
Elaborate ruse behind vast Afghanistan Bank fraud - Wash Po
Meltdown: What Really Happened at Fukushima?
Moody's Warns It May Cut Ireland To JUNK
Jul 6, 2011 at 10:32 PM
Reader Comments (10)
"As the chart below shows, while at the end of every quarter, the US Treasury is traditionally supposed to fund a quarterly payment into the various government retirement funds (previously discussed here), this time around, instead of putting in even one penny into G and CSRD Funds, Tim Geithner has decided to defraud government retirees by the most since the US debt ceiling was breached, or, specifically, since intragovernmental "holdings" became a mere plug to make room for marketable debt. So while the debt held by the public increased by $21 billion following the settlement of last week's auctions, in order to stay under the $14.294 billion ceiling, the Treasury was forced to "disinvest" another $20 billion from retirement funds. At this point the various funds that fall under this umbrella are underinvested by at least $120 billion and likely much more. Of course, this is not an event of default as per Geithner's fine print: as soon as the debt ceiling is hiked, these will be the first funds that are replenished. On the other hand, if there is no debt ceiling hike, and courtesy of marketable debt having priority to intragovernmental debt, government retirees are increasingly becoming the impaired class in what may be shaping up to be the world's biggest bankruptcy filing in history. "
Quick, somebody blame the workers for all the stealing going on!!!! Geithner for Congress!!! His rewards will be great, and the masses will love him for it...
http://www.novinite.com/view_news.php?id=129963
http://www.nineoclock.ro/bns-3-4-million-romanians-work-illegally-or-quasi-legally/
[snip]
A recent research conducted by the National Trade Unions Block (BNS) found out that about 3.4 million Romanians are working without legal papers, or in quasi-legal conditions.
BNS President Dumitru Costin, quoted by Mediafax, explained that the category of “informal labour” also includes those who work on their own, in agriculture or at home, without paying taxes and making fiscal operations. Approximately one million people of the 3.4 million that work illegally or quasi-illegally in Romania are not aware that their employers do not pay the due social contributions, so they will not benefit from medical insurances and pensions.
Note: see my 9:44 post.
http://bravenewclimate.files.wordpress.com/2011/07/apt_pv_fluctuations1.jpg
It will probably end up like this one in Germany that is only 1.4 years old and cost $11million...
http://solarresearch.org/sk2010/images/stories/Loeschke_PVSolar_Markranstaedt_201106.jpg
http://www.commondreams.org/view/2011/07/05-1
[snip]
In deregulated electricity markets, limits on transmission lines make prices fluctuate wildly. Utilities try their best to limit price disparities by asking strategically located power plants to turn themselves on and off throughout the day.
The resulting patchwork is like a "whack-a-mole" game in which prices for electricity quickly soar and collapse. Prices can change within minutes by a factor of 300 without warning, or even become negative. In those cases, consumers actually get paid to consume energy.
Note: As per my last post I am re-posting this link of how large scale solar works during the day.
http://bravenewclimate.files.wordpress.com/2011/07/apt_pv_fluctuations1.jpg
This would result in enormous price disparities on any given day. Also plants like this get full nameplate rating for the purposes of renewable credits trading even though they do NOT produce it. Traditional plants need to be operating continuously (spinning reserve) to deal with the peaks and lulls of renewables.
In a feeble attempt to cash in on the carbon tax etc this 'grand experiment' was recently proposed to accomodate the green fiasco...
http://wattsupwiththat.com/2011/06/25/it-hertz-when-you-do-that-power-grid-to-stop-regulating-60-hz-frequency/
[snip]
“A lot of people are going to have things break and they’re not going to know why,”
So, we have what appears to be an untested, for the hell of it, “experimental” major change to the US electrical grid coming in a few weeks and those in charge aren’t really sure how it will work or if it may break something?
http://www.zerohedge.com/article/coming-new-world-order-revolution-how-things-will-change-next-20-years-kondratieff-cycle-per
The SEC and FTC say 'filthy lucre' is the norm. It's a cinch the bad guys are not going to give it back.
http://www.xpatloop.com/news/new_unit_in_hungary_to_buy_bad_mortgages
[snip]
The Economy Ministry and the Development Ministry have a July 31 deadline to draw up the details of a plan to buy 5,000 homes a year from struggling debtors, who could remain in their residences as renters.
Economy Minister Gyorgy Matolcsy will be responsible for providing financing for the project, which will be overseen by the state asset manager MNV under the auspices of Development Minister Tamas Fellegi."
http://www.setimes.com/cocoon/setimes/xhtml/en_GB/features/setimes/features/2011/07/08/feature-02