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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.

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.

Regulation Is Killing Community Banks – Public Banks Can Revive Them — WEB OF DEBT BLOG

Crushing regulations are driving small banks to sell out to the megabanks, a consolidation process that appears to be intentional. Publicly-owned banks can help avoid that trend and keep credit flowing in local economies. At his confirmation hearing in January 2017, Treasury Secretary Stephen Mnuchin said, “regulation is killing community banks.” If the process is […]

via Regulation Is Killing Community Banks – Public Banks Can Revive Them — WEB OF DEBT BLOG

This blog post is not surprising as Senator Dick Durbin once said in discussing the United States Senate that the banks “Frankly own the place”.

“Amazon in law”. . . The Future of Law? — TRIAL CALL

In a recent Q&A session published in Legal Feeds ( http://bit.ly/1X2YFob ), legal writers Richard and David Suskind speak about coming change or, perhaps more precisely, impending technological disruption in the ways we, as lawyers, work. It’s an interesting read. My daughter will become a lawyer this year – (very proud of her, by the way!) If the Suskinds are anywhere near correct, over the course of her…

via “Amazon in law”. . . The Future of Law? — TRIAL CALL

Very interesting and informative article.  I agree with the points made in this article and I do believe that the speed of the technological disruption mentioned in this article will  increase at a faster and faster rate each year.

How to Wipe Out Puerto Rico’s Debt Without Hurting Bondholders — WEB OF DEBT BLOG

During his visit to hurricane-stricken Puerto Rico, President Donald Trump shocked the bond market when he told Geraldo Rivera of Fox News that he was going to wipe out the island’s bond debt. He said on October 3rd: You know they owe a lot of money to your friends on Wall Street. We’re gonna have […]

via How to Wipe Out Puerto Rico’s Debt Without Hurting Bondholders — WEB OF DEBT BLOG

I would support this strategy on the condition that any Puerto Rico bond debt that is held by the big banks or hedge funds not be included.

What you should know about identity theft

Recently, we have reported on a few identity theft based stories after the massive Equifax Data Breach. When Equifax reported this massive data breach, you may have been concerned that you could become a victim of identity theft. On the other hand, you might be only vaguely aware of the threat and not sure what identity…

via What Should I Know About Identity Theft? Look No Further — considertheconsumer

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