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More on How Banks Cheat Taxpayers...

octopi_wall_street

Rolling Stone's Matt Taibbi has a new post out on "How Banks Cheat Taxpayers."

This is certainly an all too familiar refrain:

By "negotiated underwriting," what Bloomberg means is, "local governments just hand the bid over to the bank that tosses enough combined hard and soft money at the right politicians."

Anyways, it's my "must read" recommendation for today, so go check it out.

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9 Comments
Milquetoast's picture

(I hope we get them back one day...)


audit-prosecute-incarcerate

ixnay's picture

what a "free market" is?


CTHULHU 2012 "Why vote for a lesser evil?"

NoBuddy's picture

http://www.huffingtonpost.com/2011/04/26/fed-...

The Fed loans money to banks at below market interest rates, which the banks in turn invest in treasuries that pay a higher interest rate than what the Fed is charging the banks. Nothing but pure and simple corporate welfare.

The U.S. government - the best government that money can buy.

RickinSF's picture

...now arrive via a B of A debit card.

You don't suppose.........?

themadkansan's picture

State of Kansas uses Citibank debit cards.

Yet again, someone's making money off the poor.

Milquetoast's picture

J.P. Morgan.

The More Americans That Go On Food Stamps The More Money JP Morgan Makes

http://theeconomiccollapseblog.com/archives/t...


audit-prosecute-incarcerate

fiver's picture

That's just great :)


Corruption favors the wealthy.

g-man's picture

The MF Global bankruptcy should be a wake up call that your investments are at risk of being stolen. Meanwhile your savings are being devalued by the Fed's insane monetary policy. Buy physical gold and silver to protect your wealth.

Kreskin's picture

Yup , pretty much world wide , not only here in America the beautiful .


"The poor have sometimes objected to being governed badly; the rich have always objected to being governed at all."

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