1. US accuses Bank of America of “Brazen” mortgage fraud. NYTimes 10/25/12. Because there is no ” top cop” controlling the Bank litigation, various agencies are prosecuting the Banks as cases are brought to their attention. This is frustrating for the public as well as the Bank. Additionally, because of a lack of regulators and prosecuting attorneys, executives at the Banks are not being prosecuted at this time. Austerity has gone too far when we have to hire skilled attorneys as interns, to help in much needed litigation?
2. Sent 10/25/12 by Paul Spinard This is no surprise that the Crowdfunding law that was supposed to help the ” little guy” obtain money for start up businesses is now going to benefit the Securities Industry. The law has not gone into effect yet, however, registered broker dealers may be able to sell Crowdfunding – exempt securities right away, while other smaller funding portals will be denied access. Another, example of our market society at work. History keeps repeating and we can only watch with horror as bubbles form and burst.
3. Front page of The NY Times 10/26/12. Everyone is doing it. The Chinese Prime Minister has amassed Billions in the shadows through his family’s connections and business development. Wonder how the average Chinese person will receive this news, if they find out? Next, President Zuma of South Africa has been caught spending $27Million of government funds on his personal housing compound. And, Our own Presidential candidates have spent over a $Billion dollars to grab their prize? One can only wonder, what personal benefit will accrue? Life goes on at the top, all over the world, the rich are getting richer ?
4. LOL. Both Mitt Romney and Obama agree the earth is warming and humans are to blame. After a year of record smashing temperatures, drought, and significant ice melt, neither the moderators of the general election debates or the Candidates themselves, broached this subject. In fact, both Candidates, tried to outdo each other as lovers of coal, gas and oil, the very fuels responsible for the increase in carbon dioxide. But they’re entitled to Party on, with their spending approaching $2 Billion, they have reason to rejoice now : there may not be time when we become extinct?