Jim Rogers With Dylan Ratigan: Connecting The Dots On Gov't And Wall St. Fraud: "Write Down The Debt, It's Time For The U.S. Government To Start Over, Let The Bankers Lose Their Lamborghinis" (Video, 6-16-2011)

Great discussion from yesterday's show.

• "Kicking the can down the road will NOT work.  It never has."

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The $165B Bank Bailout That Will Never Be Paid Back

Though Treasury likes to gloat about TARP funds having been paid back by the big banks, the banks have received a back-door bailout, of almost exactly the same size, that will never be paid back.  Almost no one talks about it, and no one in government is even keeping track of it.

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Ireland Says 'BURN The Bondholders', Greece Poses $41B Risk To U.S. Banks, U.K. Looks To Re-Install Glass Steagall Type Legislation, Weiner Resignation Video, BitCoin User Hacked For $500K, Historic Philly Fed Collapse (15 LINKS)

Ireland Opens New Front - BURN THE BONDHOLDERS

Burn The Bondholders - Ireland Part 2

Greece poses $41 billion risk to U.S. banks

Boehner Hints At Defunding Libya Operation

UK Looks To Re-Install Glass Steagall Type Legislation

Ethanol Subsidy Suffers Rare Loss in Senate - WSJ

ECB banker urges doubling of EU bail-out fund

Greek deal fails to ease contagion fears - Spain is next

Greek fury over proposed deeper cuts - Update

Biggest banks face capital clampdown - FT

Europe Faces ‘Lehman Moment’ in Greece - ‘Armageddon Scenarios’

VIDEO - Weiner Heckled At Presser Announcing His Resignation

World's First Virtual Heist? BitCoin User Loses $500,000 To Hackers

UCLA Study: Liberal Media Distorts News Bias

NY, California rank LOWEST in individual freedom study: Indiana Most Free

America Is Being Raped - Just Like Greece and Other Countries - Wash Blog

Historic Collapse In Philly Fed Which Prints At -7.7 On Expectations Of 7.0, Weakest Since July Of 2009, Biggest 3 Month Drop Ever

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Watch Sheila Bair's Shameless PSA: Skip Starbucks And Give More Money To The Banks

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Rep. Paul Broun: TSA Gropes Grandma, Kids, Skips Man

Video - Rep. Paul Broun on C-Span - May 25, 2011

Don't misinterpret this story.  Nationality or style of dress does not make anyone a terrorist, but why single out grandma and the kids.  Political correctness run amok.  TSA links from today:

• TSA Letter to Texas Lawmakers over the 'groping' bill
• Financial Terrorism: TSA Holds Texas Flights Hostage
• Texans Take to Capitol, Demand Representatives Resist TSA Tyranny
• Boisterous protest over airport-groping bill
• GOP lawmaker: I saw TSA pat down 'little old lady,' child, but not Arab man

Much more inside.

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Mad As Hell - Network 1976

Anyone else in the mood for a riot?

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You Don't Own An Apple, Apple Owns You

Apple iPad spoof.  This one speaks for itself.

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Pelosi's Wealth Grows 62% To $35M, CIA Gets Hacked, Euro Suffers Steepest Decline Since 2009, Default Nightmare Looms, USPS Wants Mailmen To Fight Terrorism (15 LINKS)

John Edwards Official Federal Mugshot - Story

Bank Of America 'Significantly Hindered' Federal Foreclosure Investigation

Greece Bailout Prospects Darken as Euro Bickering Weakens Papandreou

Just a coincidence - Carney defends Obama's jobs for big donors

Pelosi's wealth grows by 62 percent to at least $35 Million

Deutsche Bank Projecting A FURTHER 40% Decline In NY Housing Prices

CIA GETS HACKED

Senate HACKED - Again

Euro Nightmare: Bondholder Haircuts Mean Defaults And Bank Runs

Euro suffers steepest 1-day decline since 2009

WTF!? - Post Office Union Wants Mailmen To Thwart Terrorism Attacks

Money from Gingrich charity went to his for-profit businesses

Taleb Emails Bloomberg: "Something MUST Be Done About Bernanke"

MICH. AG ISSUES CRIMINAL SUBPOENAS IN FORECLOSURE PROBE

Jim Rogers: Fitch Should Have Downgraded The US 15 Years Ago, And Trichet Should Be Running The Fed

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Rick Santelli: "We Know They'll Cave On The Debt Ceiling, The Bond Market Is Living Proof" (CNBC Video)

Video - Rick Santelli on the debt ceiling - June 15, 2011

• "You know why it isn't paying attention? Because the bond market knows that nobody whether it's the House or the Senate will have the nerve not to raise the debt ceiling. So the real question is: Do the people that have the moral ground to actually try to make a restriction, you need to cut debt. Can they stick to it? That's the question. We know they'll all cave on the debt ceiling. The bond market is living proof of it."

Related...

• Chris Whalen: "Geithner Is Wrong! There Is No Downside To Not Raising The Debt Ceiling" (Video)
• Santelli: "There Is A Difference Between Bernanke And Houdini, Bernanke's Not A Magician, We're On The Verge Of A Great Great Depression, Near Panic Among Money Managers

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Chris Whalen On Vikram Pandit's HUGE New Pay Package At Bailed Out & Insolvent Citigroup: "Shareholders Were NOT So Lucky"

Details and transcript inside.

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What Good Is Wall Street?

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Soros Bearish On Eurozone Bailout, Mortgage Execs Sentenced To Prison, Analyst Says Gold To Reach $5K Due To Supply, In Africa Acres For A Bottle Of Scotch (15 LINKS)

Dow DOWN more than 200 pts at 3:20 PM...

Two mortgage execs sentenced to prison in $3 billion fraud

US Housing Crisis Is Now Worse Than Great Depression

Boehner gives Obama Friday deadline on Libya

Top Regulator ‘not interfering’ in mortgage settlement talks

Lawmakers sue President Obama over Libya

How Alibaba’s mistake damaged China’s market

Egypt Debt Buoyed by Obama Guarantee

Soros: Time working against euro zone solution

1.9 Million Fewer Have Jobs Than When Obama Signed Stimulus

Dodd-Frank Delays Bring Relief for Big Banks

Gold to Reach $5,000 Due to Supply Shortage: Analyst

African Hedge Fund Land Grab - "Acres for a BOTTLE of Scotch"

TSA Admits ‘Bad Judgment’ After Disabled Man Subjected to Pat-Down

Senate report: The Latin American war on drugs has ‘largely failed’

Join The Lawsuit - Sue The FED

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Video: Greece Rocked By Protests - Syntagma Square

Links and details inside.

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AIG's Joe Cassano: Whatcha Gonna Do When They Come For You? (The Eric Holder Prosecutorial No-Show)

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