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Wall St. traders secretly used chat rooms to rig Treasury bond prices: suit

In my personal opinion the big banks and the rest of Wall Street are rigging the gold market as well in addition to most of the other markets.

Justice League

Wall Street banks secretly shared client information in online chat rooms in order to rig auctions for the $14 trillion US Treasurys market, according to an explosive lawsuit filed in Manhattan federal court on Wednesday.

The move wrongly fattened the banks’ profits and picked profits from clients, the suit claims.

The new accusations, leveled by several pension funds and wealthy individual investors, are contained in an expanded class-action suit originally filed in July 2015 — and include an unusual twist: Some of the evidence came from confidential informants and one of the banks sued in the earlier action.

Read on.

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Home Prices Are Back At Housing Bubble Levels — considertheconsumer

Home prices have returned to the lofty levels they reached 10 years ago, just before the market crashed in a wave of foreclosures. But today’s housing market is very different from the one in 2006, according to Danielle Hale, chief economist at realtor.com. In 2006, the housing market was fueled by plentiful mortgage money and lenient…

via Home Prices Are Back At Housing Bubble Levels — considertheconsumer

This article is incorrect in my opinion as sub-prime mortgages and low documentation loans are making a comeback. It is only a matter of time until the current housing bubble bursts.

Beware of All The Phishing Scams This Holiday Season — considertheconsumer

The holidays are a busy time for buying gifts and other items, but unfortunately, it’s also a time when consumers need to be on the lookout for potential scams. Phishing scams, in particular, tend to flourish during the holidays. In this type of con, a scammer will send malicious emails and messages to consumers to…

via Beware of All The Phishing Scams This Holiday Season — considertheconsumer

JPMorgan Says Family Awarded $8 Billion Verdict Deserves Nothing — Justice League

JPMorgan Chase & Co. urged a judge to throw out a stunning $8 billion jury verdict over a mismanaged inheritance, saying the family deserves nothing. “The law and evidence do not support any claim against JPMorgan, much less the unprecedented multi-billion-dollar punitive damage award, which the heirs have already admitted is unconstitutionally excessive,” the bank said in a […]

via JPMorgan Says Family Awarded $8 Billion Verdict Deserves Nothing — Justice League

If I lived in the State of Texas and wanted to sue a big bank or another large corporation I would find out the names of the lawyers that represented the heirs in this case as they did a fantastic job.

 

The Public Bank Option – Safer, Local and Half the Cost — WEB OF DEBT BLOG

Phil Murphy, a former banker with a double-digit lead in New Jersey’s race for governor, has made a state-owned bank a centerpiece of his platform. If he wins on November 7, the nation’s second state-owned bank in a century could follow. A UK study published on October 27, 2017 reported that the majority of […]

via The Public Bank Option – Safer, Local and Half the Cost — WEB OF DEBT BLOG

Hopefully Phil Murphy will follow through with his plans for a state-owned bank if he wins the election and becomes the next governor of New Jersey.

It’s Officially Official: Trump Killed The CFPB Arbitration Rule — considertheconsumer

It’s official. President Donald Trump killed the CFPB Arbitration Rule on Wednesday, taking away the chance that consumers may have had to file class actions against banks and other financial firms. The president signed a resolution passed by both houses of Congress under the Congressional Review Act that nullified the CFPB rule, which was released…

via It’s Officially Official: Trump Killed The CFPB Arbitration Rule — considertheconsumer

The fact that President Donald Trump signed the resolution that killed the CFPB Arbitration Rule is just more proof that despite his campaign statements against Wall Street and his promise to “drain the swamp” he has no intention of reining in Wall Street or “draining the swamp”.

Trump Urged to Keep The CFPB Arbitration Rule Alive — considertheconsumer

The Consumer Financial Protection Bureau‘s leader on Monday urged President Donald Trump to veto a congressional resolution to eliminate an arbitration rule that would give consumers the chance to file class actions against banks and other financial firms, with the aim to keep the CFPB Arbitration Rule intact. CFPB Director Richard Cordray asked the president to…

via Trump Urged to Keep The CFPB Arbitration Rule Alive — considertheconsumer

Everyone should call the White House and let them know that you are urging that President Trump veto the congressional resolution to eliminate the arbitration rule.

Call the President

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Switchboard: 202-456-1414

Contact page for the White House below:

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