All Gov – by Noel Brinkerhoff, Danny Biederman
One of the nation’s leading banks wants Congress to amend federal law adopted in the wake of the 2008 financial crisis so it and other Wall Street institutions can go back to gambling with risky investments and have taxpayers cover the losses again if they bet wrong.
Under the Dodd-Frank Act of 2010 (pdf), banks can no longer use monies backed by the Federal Deposit Insurance Corporation (FDIC) to invest in high-risk derivatives, such as “swaps.” This prohibition was adopted because derivatives crippled numerous key players on Wall Street five years ago, including Countrywide Mortgages, Bear Stearns, AIG, Lehman Brothers, Washington Mutual, Wachovia and others. Continue reading “House Votes to Protect Citigroup if It Gambles and Loses”

Vice – by Christopher Ketcham
The Guardian – by Adam Gabbatt
One word: OUCH!
Waking Times – by Christina Sarich
Ben Swann – by Kristen Tate
New York Daily News – by Rachel Monahan , Rich Schapiro AND Stephen Rex Brown
AmmoLand
The Organic Prepper
Mediaite – by Noah Rothman