Three Merrill Insiders To Split $83 Million In Largest-Ever Whistleblower Award

Three Merrill Insiders To Split $83 Million In Largest-Ever Whistleblower Award:

Who needs to work when you can just expose your boss’ criminal ways and retire with the “whistelblower” proceeds?

That’s the question three former Merrill Lynch insiders will ask themselves after their tips led to both a successful enforcement against parent company Bank of America in a $415 million settlement for engaging in complex transactions which allowed the bank to reduce the amount of client funds that had to be set aside in reserve accounts and – more importantly – the largest ever whistleblower award amounting to $83 million.

Two of the recipients will split a $50 million award, while a third person will receive $33 million for a tip in the same case.

The previous record was $30 million in 2014 – all done under an award provision under the post-crisis Dodd-Frank law. 

Read moreThree Merrill Insiders To Split $83 Million In Largest-Ever Whistleblower Award

BAML Admits Wrongdoing, Agrees To Pay $415 Million For “Misusing Customer Cash To Generate Profits”

BAML Admits Wrongdoing, Agrees To Pay $415 Million For “Misusing Customer Cash To Generate Profits”:

The SEC announced on Thursday that Bank of America’s Merrill Lynch unit admitted wrongdoing and has agreed to pay $415 million to settle charges that it “misused customer cash to generate profits for the firm.”

According to the statement, Merrill violated the SEC’s Consumer Protection Rule by misusing customer cash that rightfully should have been deposited in a reserve account, freeing up billions to finance its own trading activities as a result.

Read moreBAML Admits Wrongdoing, Agrees To Pay $415 Million For “Misusing Customer Cash To Generate Profits”

Major Banks Under Investigation For Ties To Mexican Drug Cartels

Flashback:

American Government Backed Murderous Mexican Drug Cartel For More Than A Decade

CONFIRMED: The DEA Struck A Deal With Mexico’s Most Notorious Drug Cartel

Breaking News: Romney’s Bain Capital Exposed As Cash Laundry For Bush Drug Cartel (Video)


Major banks under investigation for ties to Mexican drug cartels (RT, May 23, 2014):

Federal regulators in the United States are reportedly investigation no fewer than two major American banks with regards to their relationships with clients believed to be tied to Mexican drug cartels.

Reuters reported exclusively on Wednesday this week that the US Securities and Exchange Commission is probing both Charles Schwab Corp. and Bank of America’s Merrill Lynch brokerage firm because clients of those entities were linked to Mexican drug cartels.

Read moreMajor Banks Under Investigation For Ties To Mexican Drug Cartels

All The Presidents’ Bankers: The Hidden Alliances That Drive American Power

All The Presidents’ Bankers: The Hidden Alliances That Drive American Power (ZeroHedge, April 5, 2014):

The following is an excerpt from ALL THE PRESIDENTS’ BANKERS: The Hidden Alliances that Drive American Power by Nomi Prins (on sale April 8, 2014).  Reprinted with permission from Nation Books. Nomi Prins is a former managing director at Goldman Sachs.

Lloyd Blankfein, James Dimon, John Mack, Brian Moynihan

NIXON’S BANKERS: When What Was Good for Wall Street Was Good for the President

Wall Street’s War

While the protests against the Vietnam War intensified in the first years of the Nixon administration, the financial elite was fighting its own war—over the future of banking and against Glass-Steagall regulations. National City Bank chairman Walter Wriston was a steadfast warrior in related battles, as he fought with Chase chairman David Rockefeller for supremacy over the US banker community and for dominance over global finance.

Rockefeller’s sights were set on a grander prize, one with worldwide implications: ending the financial cold war. He made his mark in that regard by opening the first US bank in Moscow since the 1920s, and the first in Beijing since the 1949 revolution.

Read moreAll The Presidents’ Bankers: The Hidden Alliances That Drive American Power

It Is Happening Again: 18 Similarities Between The Last Financial Crisis And Today

It Is Happening Again: 18 Similarities Between The Last Financial Crisis And Today (Economic Collapse, July 25, 2013):

If our leaders could have recognized the signs ahead of time, do you think that they could have prevented the financial crisis of 2008?  That is a very timely question, because so many of the warning signs that we saw just before and during the last financial crisis are popping up again.  Many of the things that are happening right now in the stock market, the bond market, the real estate market and in the overall economic data are eerily similar to what we witnessed back in 2008 and 2009.  It is almost as if we are being forced to watch some kind of a perverse replay of previous events, only this time our economy and our financial system are much weaker than they were the last time around.  So will we be able to handle a financial crash as bad as we experienced back in 2008?  What if it is even worse this time?  Considering the fact that we have been through this kind of thing before, you would think that our leaders would be feverishly trying to keep it from happening again and the American people would be rapidly preparing to weather the coming storm.  Sadly, none of that is happening.  It is almost as if they cannot even see the disaster that is staring them right in the face.  But without a doubt, disaster is coming.

The following are 18 similarities between the last financial crisis and today…

Read moreIt Is Happening Again: 18 Similarities Between The Last Financial Crisis And Today

Gold Crush Started With 400 Ton Friday Forced Sale On COMEX

Gold Crush Started With 400 Ton Friday Forced Sale On COMEX (ZeroHedge, April 15, 2013):

On The Forced Sale…

Via Ross Norman of Sharps Pixley,

The gold futures markets opened in New York on Friday 12th April to a monumental 3.4 million ounces (100 tonnes) of gold selling of the June futures contract in what proved to be only an opening shot. The selling took gold to the technically very important level of $1540 which was not only the low of 2012, it was also seen by many as the level which confirmed the ongoing bull run which dates back to 2000. In many traders minds it stood as a formidable support level… the line in the sand.

Read moreGold Crush Started With 400 Ton Friday Forced Sale On COMEX

Who Runs The World? Solid Proof That A Core Group Of Wealthy Elitists Is Pulling The Strings

Who Runs The World? Solid Proof That A Core Group Of Wealthy Elitists Is Pulling The Strings (Economic Collapse, Jan 29, 2013):

Does a shadowy group of obscenely wealthy elitists control the world?  Do men and women with enormous amounts of money really run the world from behind the scenes?  The answer might surprise you.  Most of us tend to think of money as a convenient way to conduct transactions, but the truth is that it also represents power and control.  And today we live in a neo-fuedalist system in which the super rich pull all the strings.  When I am talking about the ultra-wealthy, I am not just talking about people that have a few million dollars.  As you will see later in this article, the ultra-wealthy have enough money sitting in offshore banks to buy all of the goods and services produced in the United States during the course of an entire year and still be able to pay off the entire U.S. national debt.  That is an amount of money so large that it is almost incomprehensible.  Under this ne0-feudalist system, all the rest of us are debt slaves, including our own governments.  Just look around – everyone is drowning in debt, and all of that debt is making the ultra-wealthy even wealthier.  But the ultra-wealthy don’t just sit on all of that wealth.  They use some of it to dominate the affairs of the nations.  The ultra-wealthy own virtually every major bank and every major corporation on the planet.  They use a vast network of secret societies, think tanks and charitable organizations to advance their agendas and to keep their members in line.  They control how we view the world through their ownership of the media and their dominance over our education system.  They fund the campaigns of most of our politicians and they exert a tremendous amount of influence over international organizations such as the United Nations, the IMF, the World Bank and the WTO.  When you step back and take a look at the big picture, there is little doubt about who runs the world.  It is just that most people don’t want to admit the truth.The ultra-wealthy don’t run down and put their money in the local bank like you and I do.  Instead, they tend to stash their assets in places where they won’t be taxed such as the Cayman Islands.  According to a report that was released last summer, the global elite have up to 32 TRILLION dollars stashed in offshore banks around the globe.

U.S. GDP for 2011 was about 15 trillion dollars, and the U.S. national debt is sitting at about 16 trillion dollars, so you could add them both together and you still wouldn’t hit 32 trillion dollars.

Read moreWho Runs The World? Solid Proof That A Core Group Of Wealthy Elitists Is Pulling The Strings

Matt Taibbi: Secrets And Lies Of The Bailout (Rolling Stone)

Secrets and Lies of the Bailout (Rolling Stone, Jan 4, 2013):

It has been four long winters since the federal government, in the hulking, shaven-skulled, Alien Nation-esque form of then-Treasury Secretary Hank Paulson, committed $700 billion in taxpayer money to rescue Wall Street from its own chicanery and greed. To listen to the bankers and their allies in Washington tell it, you’d think the bailout was the best thing to hit the American economy since the invention of the assembly line. Not only did it prevent another Great Depression, we’ve been told, but the money has all been paid back, and the government even made a profit. No harm, no foul – right?

Wrong.

It was all a lie – one of the biggest and most elaborate falsehoods ever sold to the American people. We were told that the taxpayer was stepping in – only temporarily, mind you – to prop up the economy and save the world from financial catastrophe. What we actually ended up doing was the exact opposite: committing American taxpayers to permanent, blind support of an ungovernable, unregulatable, hyperconcentrated new financial system that exacerbates the greed and inequality that caused the crash, and forces Wall Street banks like Goldman Sachs and Citigroup to increase risk rather than reduce it. The result is one of those deals where one wrong decision early on blossoms into a lush nightmare of unintended consequences. We thought we were just letting a friend crash at the house for a few days; we ended up with a family of hillbillies who moved in forever, sleeping nine to a bed and building a meth lab on the front lawn.

Read moreMatt Taibbi: Secrets And Lies Of The Bailout (Rolling Stone)

The Federal Reserve Cartel: Part IV: A Financial Parasite (Veterans Today)

@Amazon.com: Big Oil & Their Bankers In The Persian Gulf: Four Horsemen, Eight Families & Their Global Intelligence, Narcotics & Terror Network



The Federal Reserve Cartel: Part IV: A Financial Parasite (Veterans Today, Dec 14, 2012):

(Excerpted from Chapter 19: Big Oil & Their Bankers…Part four of a five-part series)

United World Federalists founder James Warburg’s father was Paul Warburg, who financed Hitler with help from Brown Brothers Harriman partner Prescott Bush. [1]

Colonel Ely Garrison was a close friend of both President Teddy Roosevelt and President Woodrow Wilson.  Garrison wrote in Roosevelt, Wilson and the Federal Reserve, “Paul Warburg was the man who got the Federal Reserve Act together after the Aldrich Plan aroused such nationwide resentment and opposition.  The mastermind of both plans was Baron Alfred Rothschild of London.”

Read moreThe Federal Reserve Cartel: Part IV: A Financial Parasite (Veterans Today)

GAO Audit Of The Federal Reserve Reveals $16 TRILLION In Secret Bailouts

From the article:

Comment: It’s not “socialism for the rich”; that’s an oxymoron.

It’s corporatism, i.e. fascism, as defined by Benito Mussolini.


Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts (Sott.net, Sep 1, 2012):

The first ever GAO (Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill(HR1207), so that a complete audit would not be carried out.

Ben Bernanke, Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the results of the first audit in the Federal Reserve’s nearly 100 year history were posted on Senator Sander’s webpage earlier this morning.

What was revealed in the audit was startling:

Read moreGAO Audit Of The Federal Reserve Reveals $16 TRILLION In Secret Bailouts