Posted by Warm Southern Breeze on Friday, July 27, 2012
No… no… no…
Banks don’t need to be regulated.
They’re doing quite fine with all the money they’ve stolen from you already.
No, they don’t need regulation.
And no, we don’t need to re-enact the Glass-Steagall Act – the federal law that kept Wall Street Brokerage Houses, Insurance Companies, and Banks separate and out of each other’s business. Right now, as things stand with them, they’re enjoying an incestuous fiscal orgy. And that’s good. We need more incest. We need more orgies. They’re all good. In fact, the more mammon… er, money you have, the more holy you are, the more the Almighty has blessed you – and not someone else (those lazy slobs who don’t deserve anything). {/sarcasm}
But there’s really no reason to worry… the banks will get what’s comin’ to ’em – and the ‘what’ is NOT your money. They have that already.
Come a-courtin’ time (that’d be in the court room), the Banksters be ruled against in a BIG way.
Just wait.
It’s coming.
Next thing you’ll hear in the news are the BIG BANKSTERS wanting legal protection from Congress for the wrongdoing they’ve done.
Just wait.
—
by David Kestenbaum
We’ve been talking a lot lately about what’s been dubbed the “LIBOR rate fixing scandal,” where some of the biggest banks in the world have been accused of manipulating a key global interest rate.
If those words — “manipulation of a key interest rate” — leave you wondering what the big deal is, and who would be harmed, meet Dan Sullivan. He says the manipulation of LIBOR cost him a million dollars, in just 24 hours.
Dan Sullivan used to work Read the rest of this entry »
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Posted in - Did they REALLY say that?, - Faith, Religion, Goodness - What is the Soul of a man?, - Read 'em and weep: The Daily News | Tagged: "Occupy Wall Street", $453 million, accounts, banking, bankruptcy, banks, Banksters, Barclays, Barclays Bank, Bernie Sanders, Big Business, CBOT, Chicago Mercantile Exchange, collusion, Congress, credit default swaps, derivatives, Derivatives market, Fed, Federal Reserve, Federal Reserve System, fiscal, fraud, Glass-Steagall Act, Individual Retirement Account, insurance, Interest rate, investment, investment bank, JPMorgan Chase, law, Lehman Brothers, LIBOR, London, London Interbank Offered Rate, lying, manipulate, monetary policy, money, office, OWS, penalize, penalty, policy, retirement, risk, risky business, Ron Paul, stealing, stock brokerage houses, theft, trader, Wall Street | Leave a Comment »
Posted by Warm Southern Breeze on Wednesday, April 25, 2012
“…distributions may be made to a participant who has not separated from service, provided the participant has attained age 23 years old…”
The bigger question is this: Can or will Mitt Romney give all Americans the same opportunity? Can or will his ideas and policy make everyone as rich as Croesus?
Forget “rich.”
Let’s settle for “eliminate poverty.”
I think we know the answer to that one.
—
Bain’s Unusually Young Retirement Rollover Age: 23
April 2, 2012, 2:19 PM ET
By Mark Maremont
Bain Capital, the private-equity firm that Mitt Romney used to run, appears to have an unusual early-retirement age: 23.
That’s the age at which, according to a federal filing (PDF, page 25), Bain employees are allowed to roll over their retirement funds from a Bain profit-sharing plan into their own individual retirement accounts, or simply withdraw the money.
Federal law allows employees in such profit-sharing plans to roll over their funds into an IRA only under certain circumstances, such as when they leave their jobs, when they’ve been in the job a certain number of years, or when they reach a specified age, pension lawyers said. Normally, that age is something close to retirement, such as 50 or 55 years old.
“I’ve never seen or drafted a plan permitting a distribution as early as 23,” said Charles M. Lax, a pension attorney at Maddin Hauser in Southfield, Mich. He said the Bain arrangement Read the rest of this entry »
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Posted in - Did they REALLY say that?, - Lost In Space: TOTALLY Discombobulated, - Read 'em and weep: The Daily News | Tagged: Bain, Bain Capital, cash, economic, economy, Individual Retirement Account, Internal Revenue Service, IRA, Mitt Romney, money, news, pension, policy, politics, poverty, Republicans, retirement, roll over, SEP-IRA | Leave a Comment »