U.S. Government Foreign Debt Hits Record $5.29 Trillion

A 6-year old speaks on the national debt.

• U.S. Government's Foreign Debt Hits Record $5.29 Trillion
• Standard Chartered Seen Paying $1 Billion To End Probes
• Still no escape for taxpayers if banks go bust - Reuters
• Peregrine Founder Pleads Not Guilty
• Mervyn King Says European Debt Crisis Has ‘No Obvious End In Sight’
• EU hedge funds face pay threat
• HSBC hands U.S. more names in tax evasion probe - Reuters
• HARP: Wall Street banks laughing all the way home
• San Bernardino County residents push back against eminent domain
• Putin to spend over $720 billion on new military aircraft

Comments

[LiberatedCitizen]

Don't miss these stories

Oh, So It's Not Just Standard Chartered?

http://market-ticker.org/akcs-www?post=210359

Moody’s, S&P must face fraud claims in subprime suit

http://www.futuresmag.com/2012/08/20/moodys-sp-must-face-fraud-claims-in-subprime-suit?ref=hp

Fannie Freddie Reform Benefits Big Banks, Mortgage Insurers: Report

http://www.thestreet.com/story/11669315/1/fannie-freddie-reform-benefits-big-banks-mortgage-insurers-report.html

Goldman to Clients: Get Out of Stocks Before Fiscal Cliff Hits

http://www.cnbc.com/id/48725644

Libor and the folly of deregulation

http://finance.fortune.cnn.com/2012/08/17/libor-scandal-fed/?iid=HP_River

[john]

First Leaside wind-down hits major snag

http://www.edmontonjournal.com/business/First+Leaside+wind+down+hits+major+snag/7117292/story.html

A significant complication has arisen in the wind-down of First Leaside Group of Companies, a $370-million investment firm whose operations were frozen late last year when regulators stepped in with concerns about how investor money was being used.

[snip]

Investors have been told that the team dismantling First Leaside under court-monitored protection from creditors “does not have the corporate authority” to deal with the firm’s key U.S. properties.


The Texas properties are housed under a corporate umbrella that received millions of dollars in loans from other First Leaside entities when the business was operating. But the “corporate structure, as it was set up by First Leaside…. does not give the CRO (chief restructuring officer) direct legal authority to deal with the Texas properties,” investors were told in a letter this month from their court-appointed representatives at law firm Fraser Milner Casgrain.

“Rather, we understand that it is David Phillips, the former president of First Leaside who controls the general partners of the Texas subsidiaries, who has the authority to deal with these properties,” the letter said.

[S. Gompers]

The hand that owes is always a slave to the hand that loaned, the long awaited third world paradise is soon at hand.