Goldman Sachs: The Vampire Squid’s Alum Control Two Fed Banks, the U.S. Treasury, the European Central Bank and the Bank of England

Goldman Sachs: The Vampire Squid’s Alum Control Two Fed Banks, the U.S. Treasury, the European Central Bank and the Bank of England
By Pam Martens and Russ Martens: January 23, 2020 ~

The head of the Federal Reserve Bank of Dallas (Robert S. Kaplan), the head of the Federal Reserve Bank of Minneapolis (Neel Kashkari), the Secretary of the U.S. Treasury (Steve Mnuchin), the President of the European Central Bank (Mario Draghi) and the head of the Bank of England (Mark Carney) all have two things in common: they sit atop vast amounts of money and they are all alums of Goldman Sachs. In addition, the immediate past President of the Federal Reserve Bank of New York, William Dudley, which secretly sluiced over $29 trillion to bail out Wall Street banks during the financial crisis and has now opened its money spigot for trillions of dollars more, worked at Goldman Sachs for more than two decades, rising to the rank of partner and U.S. Chief Economist.

Goldman Sachs has been variously depicted asa great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money,” by Matt Taibbi of Rolling Stone; or the amoral investment bank that bundled mortgages it knew would fail and sold them to their clients as good investments so that it could make millions betting against them (shorting); or the place where greed became so over-the-top that a vice president, Greg Smith, resigned on the OpEd page of the New York Times, writing that his colleagues callously talkedabout ripping their clients off.” Smith’s bosses were implicated as well: “Over the last 12 months I have seen five different managing directors refer to their own clients as ‘muppets,’ ” wrote Smith.

Today, Goldman Sachs is under a criminal investigation by the U.S. Department of Justice and under a criminal indictment by Malaysia for its role in bribery and embezzlement of its sovereign wealth fund known as 1MDB. </snip>

https://wallstreetonparade.com/2020/01/goldman-sachs-the-vampire-squids-alum-control-two-fed-banks-the-u-s-treasury-the-european-central-bank-and-the-bank-of-england/

Robert S. Kaplan
(617) 495-6150
https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6487

Wall Street On Parade: World Bank Releases Bleak Outlook for U.S. Growth this Year through 2022

World Bank Releases Bleak Outlook for U.S. Growth this Year through 2022
https://wallstreetonparade.com/2020/01/world-bank-releases-bleak-outlook-for-u-s-growth-this-year-through-2022/

By Pam Martens and Russ Martens: January 9, 2020 ~

Yesterday the World Bank released a report forecasting a decidedly bleak outlook for GDP growth in advanced economies. The U.S. is expected to grow at just 1.8 percent this year and a further drop to 1.7 percent in 2021 and 2022. That forecast throws extremely cold water on what Donald Trump promised just two years ago.

On December 6, 2017 President Donald Trump stated at a news conference that his giant corporate tax cut (which Congress ended up passing later that same month) could boost GDP growth to “4, 5 and even 6 percent.” (See video clip below.) In 2018, U.S. GDP registered 2.9 percent and GDP growth for 2019 is expected to drop to approximately 2.2 percent, according to the Federal Reserve’s latest forecast.

Thus, a tax cut that has spiraled the United States’ national debt to over $23 trillion, and growing rapidly, has failed to make a material improvement in the substandard growth rate of U.S. GDP since the epic financial collapse of 2007 to 2010.

From 2009, the year after the worst of the financial collapse on Wall Street, through 2018, U.S. GDP has grown at an average rate of 1.8 percent. That substandard rate has persisted despite three rounds of Quantitative Easing (QE) by the Federal Reserve which, as a result, now has a balance sheet of over $4 trillion;  <//>

Wall Street on Parade Pam Martens and Russ Martens

These Two Charts Show the Shocking Truth Behind the Sanders/AOC Plan to Cap Credit Card Interest Rates

By Pam Martens and Russ Martens: May 10, 2019 ~

Calling 20 and 30 percent credit card interest rates “extortion and loan sharking,” Senator Bernie Sanders and Congresswoman Alexandria Ocasio-Cortez yesterday introduced the ‘‘Loan Shark Prevention Act’’ which would set a Federal cap of 15 percent on interest rates that can be charged to consumers.

In introducing […]

http://wallstreetonparade.com/2019/05/these-two-charts-show-the-shocking-truth-behind-the-sandersaoc-plan-to-cap-credit-card-interest-rates/

The Untold Story of the Paul Weiss Internal Investigation that Didn’t Catch a Massive Stock Fraud

By Pam Martens and Russ Martens: May 13, 2019 ~

Scales of Justice The legal press has been having a field day with how the U.S. Department of Justice, funded by U.S. taxpayers to conduct its own serious and unbiased investigations, has been outsourcing its investigations to the criminal target and its outside counsel – specifically, the law firm Paul, Weiss, Rifkind, Wharton & Garrison.

The case making the headlines involves Deutsche Bank. But another Paul Weiss internal investigation that has escaped meaningful scrutiny by mainstream media involves China Medical Technologies. The U.S. Department of Justice now describes this company as a massive securities fraud that dates back to the time that Paul Weiss conducted one of its internal investigations and came up empty-handed – or, at least, that’s what China Medical Technologies told the Securities and Exchange Commission in an official filing document.

China Medical Technologies went public in the U.S. in 2005. The sole underwriter was the large global bank, UBS. A secondary share offering was underwritten by Credit Suisse and Morgan Stanley in 2008. The company was organized as a holding company under the laws of the Cayman Islands and depicted itself as “a leading China-based medical device company that develops, manufactures and markets advanced in-vitro diagnostic products.”

READ MORE http://wallstreetonparade.com/2019/05/the-untold-story-of-the-paul-weiss-internal-investigation-that-didnt-catch-a-massive-stock-fraud/

#Financial Literacy

Wall Street on Parade: Gallup Polls Show America Is Dangerously Moving in the Wrong Direction

Gallup Polls Show America Is Dangerously Moving in the Wrong Direction

The Criminal Case Against Merrill Lynch: “Sinister,” “Whores,” “Beards”

Research Study on Ongoing Crime Spree by Wall Street Mega Banks Gets News Blackout: Here’s Why