Lawsuit Claims Banks Manipulated Libor Leading To Billions For JPMorgan, AG Deal With Banks Investigated, Moody's Fraud Warning Rocks Chinese Shares, $1.2M Mansion For $10K, Greece Default Now Seen As 'Inevitable' (LINKS)

Stories from around the web today.

Skinheads Hunt Native American Family - Guess Who Gets Arrested? - Brutal

New York Attorney General Seeks Data on Bank of America’s Fraud Settlement

Lawsuit Claims Banks Manipulated Libor Leading To Billions For JPMorgan, Others

As AGs Near Deal With Banks, Questions Swirl Over Scope Of Investigation - Must Read

Moody’s warns on reliability of China firms financials, hitting shares

Breakthrough - JP Morgan supercomputer offers risk analysis in near real-time

$1.2 million mansion for $10K? - Check This Out

FLASHBACK - How Hank Paulson Became CEO Of Goldman Sachs

Government Made it Official Policy Not to Prosecute Fraud - Washington's Blog

Rand Paul: Boehner has ‘no plan’ to balance the budget

Shadow Stats - John Williams Interview - US Dollar Selling & Hyperinflation

Eric Holder Lied To Congress - Release Shows He Approved Mexico Weapons Smuggling

Congress Is Corrupt, Here's A Solution - James Altucher

BIG SHIFT - Greece set to default on massive debt burden, European leaders concede

Inevitable That Greece Will Default - Special EU Meeting Announced

Nevada Supreme Court: You MUST Prove Chain of Mortgage Title - Adam Levitin

Northwest U.S. sees 35% infant mortality SPIKE post-Fukushima: report

Comments

[DailyBail]

Cisco May Cut as Many as 10,000 Jobs

http://www.bloomberg.com/news/2011-07-11/cisco-may-cut-about-5-000-jobs-in-august-gleacher-analyst-says.html

[DailyBail]

The recovery is weak now--but it could be headed for a major hit that will leave it even weaker.

At the start of 2012, the extended unemployment benefits approved by Congress in December 2010, which cover a maximum of 99 weeks per person, will expire. Though the benefits are hardly lavish--a little more than $300 a week for most recipients--their total impact on the economy is huge, because so many Americans are currently taking advantage of them. Moody's Analytics estimates that when the benefits expire, $37 billion will be taken out of the economy, the New York Times reports. That's enough to exert a significant slowing effect--at a time when the recovery is already a long way from robust.

http://news.yahoo.com/blogs/lookout/next-big-hit-economy-133429498.html

[DailyBail]

US trade gap nears three-year high

http://presstv.com/detail/188778.html

[DailyBail]

Investors in Netflix – who have already enjoyed a big year on the stock – took some more upside Tuesday afternoon after the company essentially hiked its rates for subscribers who use both its streaming service and one of its mail-order DVD plans.

http://blogs.marketwatch.com/thetell/2011/07/12/netflix-investors-cheer-fee-hike/

[DailyBail]

WASHINGTON (MarketWatch) — The Federal Reserve has basically decided how — if not when — it will exit its ultra-easy monetary policy, even as a minority of members think the next step may be to provide extra stimulus rather than remove it.

http://www.marketwatch.com/story/fed-decides-how-not-when-to-exit-easy-conditions-2011-07-12-1424310?dist=countdown

[john]

IRELAND GETS 'JUNKED'

http://www.reuters.com/article/2011/07/12/us-ireland-ratings-moodys-idUSTRE76B6A720110712

[Howard T. Lewis III]

Officer!! I demand you arrest Eric Holder, Jr. Think of the perks. Think of the adoration. The American people would give it all to you! Oh. You have visions as chief fluffer with TSA in the new Operation VIPR.

[DailyBail]

@Howard...now that would be something to celebrate...eric holder is a spineless, wall-street stroking punk...

[DailyBail]

SAN FRANCISCO (MarketWatch) — U.S. stocks closed near their lows of the session Tuesday after Moody’s downgraded Ireland’s debt to junk status, erasing a small rally triggered by minutes of the Federal Reserve’s latest meeting.

http://www.marketwatch.com/story/stocks-struggle-for-gains-as-italy-fears-cool-2011-07-12

[DailyBail]

Homeland Security Gives MTA 10$ Million Dollars For Psyops Ad Campaign

http://theintelhub.com/2011/07/12/homeland-security-gives-mta-10-million-dollars-for-psyops-ad-campaign/

Completely ridiculous waste of money...

[John]

Nobody Committed Any Crimes! (2/28 Edition - Libor)

http://market-ticker.org/akcs-www?post=202701

[snip]

But remember, among the candidates and current office-holders, nearly all are still saying that "nobody ever committed any crimes."

Are you going to vote for one of the clowns who can't be bothered to get off their damn knees before the banksters before they lie to you again?

[john]

Barclays paying $453 million to settle Libor probe

http://www.reuters.com/article/2012/06/27/us-barclays-libor-idUSBRE85Q0J720120627

[snip]

U.K. bank Barclays will pay $453 million to U.S. and British authorities to settle allegations that it manipulated key interest rates, increasing pressure on other banks to cooperate in a probe that could cost the financial industry billions of dollars.

The settlement raises fresh questions about the reliability of the London interbank offered rate, or Libor, which underpins some $360 trillion of loans and financial contracts.

The attempted manipulation, which according to authorities took place from 2005 through 2009, meant that millions of borrowers paid too little or too much interest on their debt.

The U.S. government implicated senior executives at Barclays in its settlement. It cited reams of emails that showed how the bank sought to move Libor rates to profit on trades and to hide its high borrowing costs during the financial crisis.