Other News – SEC Commissioner Kara Stein Declares War on SEC Chair Mary Jo White

Jay Owen Reforming Global Finance

SEC Commissioner Kara Stein Declares War on SEC Chair Mary Jo White   Naked Capitalism*   A relatively new SEC Commissioner, Kara Stein, has decided to depart from the usual polite behavior regulatory overseers and is making noise about SEC decisions and policies that she finds to be dubious. The …

Public Banks Are Key to Capitalism

Jay Owen Reforming Global Finance, Community Development Solutions

“Kudos to Ethical Markets Advisory Board Ellen Brown for this wide reaching piece in the New York Times.”  EMM Editor To ask whether public banks would interfere with free markets assumes that we have free markets, which we don’t. Banking is heavily subsidized and is monopolized by Wall Street, which …

The Detroit Bail-In Template: Fleecing Pensioners to Save the Banks

Jay Owen Reforming Global Finance, SRI/ESG News

The Detroit Bail-In Template: Fleecing Pensioners to Save the Banks Posted on August 5, 2013 by Ellen Brown The Detroit bankruptcy is looking suspiciously like the bail-in template originated by the G20’s Financial Stability Board in 2011, which exploded on the scene in Cyprus in 2013 and is now becoming the model globally. In Cyprus, …

Wall Street Confidence Trick: How Interest Rate Swaps Are Bankrupting Local Governments

kristy Reforming Global Finance, SRI/ESG News

Wall Street Confidence Trick: How Interest Rate Swaps Are Bankrupting Local Governments Ellen Brown http://WebofDebt.com/articles March 20, 2012 Far from reducing risk, derivatives increase risk, often with catastrophic results. — Derivatives expert Satyajit Das, Extreme Money (2011) The “toxic culture of greed” on Wall Street was highlighted again last week, …