Sunday, May 19, 2019

Tag: Citigroup

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Michael Hudson on the Orwellian Turn in Contemporary Economics

Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of Killing the Host (2015), The Bubble and Beyond (2012), Super-Imperialism: The Economic Strategy of American Empire...

The Nation’s Biggest Banks Have Gotten a $130 Billion Boost from Trump Win

Biggest winner: Bank of America. Donald Trump and the big banks appears to be this year’s biggest story of unrequited love. While Trump has accused Wall Street of trying to ruin the country on the election trail, investors banking on the fact that the next president will be good for nation’s...

Citigroup chose Obama’s 2008 cabinet, WikiLeaks document reveals

One month before the presidential election of 2008, the giant Wall Street bank Citigroup submitted to the Obama campaign a list of its preferred candidates for cabinet positions in an Obama administration. This list corresponds almost exactly to the eventual composition of Barack Obama’s cabinet. The memorandum, revealed by WikiLeaks...

The Most Important WikiLeak – How Wall Street Built The Obama Cabinet

Perhaps the most startling discovery of the WikiLeaks dumps so far didn't come from the most recent emails surrounding the various Hillary scandals, though there are many great ones, but from 2008 when John Podesta served as co-chair of President-elect Barack Obama's transition team. The email came from Michael Froman,...

HSBC: There’s Now a Very High Chance of a Severe Fall In U.S. Stocks

The technicals don't look good. Yesterday's big stocks drop may have just been the beginning. Or so says HSBC Holdings Plc technical analyst Murray Gunn. In a new note, Gunn says he is now on alert for a big dip in U.S. equities. "With the U.S. stock market selling off aggressively...

Washington Tries to Break BRICS – Rape of Brazil Begins

Washington's regime change machinery has for the time being succeeded in removing an important link in the alliance of large emerging nations by railroading through a Senate impeachment of the duly elected President, Dilma Rousseff. On August 31 her Vice President Michel Temer was sworn in as President. In...

The new TTIP? Meet TISA, the secret privatisation pact that poses a threat to...

Government insists 'public services are under no threat whatsoever from this deal'. An international trade deal being negotiated in secret is a “turbo-charged privatisation pact” that poses a threat to democratic sovereignty and “the very concept of public services”, campaigners have warned. But this is not TTIP – the international agreement it...

Saudi Arabia said to weigh bond sale of up to US$15b

Saudi Arabia is considering selling as much as US$15 billion of bonds this year in what would be the country's first foray into international capital markets, people with knowledge of a matter said. Encouraged by Qatar's record issue last week, Saudi Arabia is weighing a sale of at least...

Seven big banks settle U.S. rate-rigging lawsuit for $324 million

Seven of the world's biggest banks have agreed to pay $324 million to settle a private U.S. lawsuit accusing them of rigging an interest rate benchmark used in the $553 trillion derivatives market. The settlement made public on Tuesday, which requires court approval, resolves antitrust claims against Bank of America...

U.S.-Saudi Relations

The U.S.-Saudi Arabia alliance, which survived the oil embargo in 1973 and the attacks of September 11, 2001, in which fifteen of the nineteen passenger jet hijackers were Saudi citizens, is coming under new strains. A new generation of Saudi Arabian leaders is adjusting to what it sees as...

Wall Street’s Oil Crash, a Story Told in Charts

This is what it looks like on the down side of the biggest oil boom in U.S. history. JPMorgan Chase & Co., Wells Fargo & Co., Bank of America Corp. and Citigroup Inc., with a combined $190 billion in energy loan exposure, all announced this week that they’re setting aside...

Oil Drillers Feel the Pain as Banks Slash Their Credit Lines

Chesapeake Energy Corp., the deeply indebted shale producer, said this week that it can hang on to its $4 billion bank line as long as it posts just about everything it owns as collateral. Many of its competitors are faring far worse. Almost two years into the worst oil bust...

When Donald Trump Needs a Loan, He Chooses Deutsche Bank

Despite some clashes, the Republican front-runner has been a regular client of the German lender. One of Donald Trump's closest allies on Wall Street is a now-struggling German bank. While many big banks have shunned him, Deutsche Bank AG has been a steadfast financial backer of the Republican presidential candidate’s business...

JPMorgan, Goldman Said to Discuss Buying Deutsche Bank Swaps

Deutsche Bank AG, the lender exiting some trading operations, is in talks with JPMorgan Chase & Co., Goldman Sachs Group Inc. and Citigroup Inc. to sell the last batches of about 1 trillion euros ($1.1 trillion) in complex financial instruments, people with knowledge of the matter said. Deutsche Bank, based...
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Subprime Mortgage Whistleblowers Warn Bigger Crash on Its Way

Whistleblowers Richard Bowen and Michael Winston, along with UMKC's Bill Black, discuss the rampant fraud at Countrywide and Citigroup and how today's high foreclosure rates in states like Nevada could be a sign of what's to come.

Stocks Worldwide Tumble as Credit Weakens Amid Signs of Distress

Signs of distress in financial markets accumulated amid deepening concern over the health of the global economy, with U.S. stocks sliding to a 22-month low as the cost of protecting against default by junk-rated companies soared to the highest level since 2012. Mining and banking stocks drove the Standard &...

Pre-9/11 Ties Haunt Saudis as New Accusations Surface

RIYADH, Saudi Arabia — During the 1980s and ’90s, the historic alliance between the wealthy monarchy of Saudi Arabia and the country’s powerful clerics emerged as the major financier of international jihad, channeling tens of millions of dollars to Muslim fighters in Afghanistan, Bosnia and elsewhere. Among the project’s...

The Chinese RMB trading and clearing negotiation in America was suddenly blocked, the truth...

The negotiation of Yuan trading and clearing in America which starting from last November was suddenly blocked, This negotiations was about allowing the Renminbi “landed” in the US. On January 26th, The Wall Street Journal reported the news, judging from the report contents, the possibility of the Chinese resistance was...

What’s Really Going on With Oil?

If there is any single price of any commodity that determines the growth or slowdown of our economy, it is the price of crude oil. Too many things don’t calculate today in regard to the dramatic fall in the world oil price. In June 2014 major oil traded at...

With the markets in turmoil, the risk of deflation is high

In the UK and France, inflation is running at 0.2 per cent; Germany is at 0.3 per cent and the US at 0.5 per cent. It was the further slide in oil prices that unnerved stock markets yesterday, pushing share prices down to the lowest they have been for two...

Market crash robs $2.3 trillion from investors

The stock market rout is starting to get really expensive — destroying $2.3 trillion from the market's top last year and $1.5 trillion in net wealth just this year. The giant companies that predominantly populate the Standard & Poor's 500 have fallen an average of 8.9% this year — which,...

Why Time is Running Out for the Oil Giants

Here’s what may happen after the OPEC talks. Time may be almost up for America’s beleaguered and highly-leveraged energy industry. Consolidation, hostile takeovers, bankruptcies, decreased production, MLP implosions, massive layoffs, and crashing asset prices are all on the agenda for 2016 now that Opec failed to agree to any meaningful production...

U.S. Moves Toward Setting Up Yuan Trading and Clearing in America

The U.S. took an unprecedented step toward allowing trading and clearing of the Chinese yuan in America. Finance and industry leaders said Monday they are setting up a group aimed at allowing U.S. institutions to make or receive yuan payments, according to a press statement released before the International Monetary...

Six Banks Pay $5.8 Billion, Five Guilty of Market Rigging

Six of the world’s biggest banks will pay $5.8 billion and five of them agreed to plead guilty to charges tied to a currency-rigging probe as they seek to wind down almost half a decade of enforcement actions. Citicorp, JPMorgan Chase & Co., Barclays Plc and Royal Bank of Scotland...

Elizabeth Warren Steps Into the F.I.R.E. of Wall Street Corruption

Increasingly it feels to Americans that the bulk of the news about scams to separate them from their life savings is coming from one Senator from Massachusetts — Elizabeth Warren. Ripoffs in financial services, insurance, and real estate – known as F.I.R.E. on Wall Street – are being exposed by...

Eric Holder Exits Without Bringing Libor or Foreign Exchange Charges Against Citigroup or JPMorgan

Americans have been reading about Citigroup’s and JPMorgan’s roles in rigging the Libor interest rate benchmark for so many years that it’s a sure bet most folks think the U.S. Department of Justice has already fined and settled charges against these two banks. The truth of the matter is...

Now We Know Why Huge TPP Trade Deal Is Kept Secret From the Public

A key section of the secret Trans-Pacific Partnership (TPP) trade agreement has been leaked to the public. The New York Times has a major story on the contents of the leaked chapter, and it's as bad as many of us feared. Now we know why the corporations and the Obama...

In a pure coincidence, Gaddafi impeded U.S. oil interests before the war

When the war in Libya began, the U.S. government convinced a large number of war supporters that we were there to achieve the very limited goal of creating a no-fly zone in Benghazi to protect civilians from air attacks, while President Obama specifically vowed that “broadening our military mission...

Hillary Clinton Hosts Iraq Opportunities Party For War Profiteers

As Congress launches a bipartisan PR campaign to stay in Iraq forever, the White House throws a corporate looting party: FIRST LOOK: WALL STREET IN IRAQ? – Secretary of State Hillary Clinton and Deputy Secretary Tom Nides (formerly chief administrative officer at Morgan Stanley) will host a group of corporate executives at...

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