We are seeing JP Morgan's CEO Dimon declaring losses and bad investments just as European elections sent all the incumbant parties voting with the banks packing.....all the nations including an upcoming vote on UK Cameron see these bank politicians out the door. AMERICAN VOTERS MUST DO THE SAME....WE MAY NOT BE ABLE TO PROTECT OURSELVES FROM OBAMA, AS WE HAVE NO ALTERNATIVE THIS ELECTION, BUT VOTING THESE INCUMBANTS WHO ARE LETTING ALL THIS POLICY HAPPEN IS A MUST! IT IS AS IMPORTANT LOCALLY AS IT IS NATIONALLY. THEY HAVE A FARM TEAM WAITING THAT WE NEED TO PUSH ASIDE.
EVEN THOUGH I STILL HAVE RESERVATIONS ABOUT ELIZABETH WARREN, YOU'LL SEE HER SHOUTING LOUDLY AND STRONGLY AGAINST THESE BANKS....DO YOU HEAR YOUR DEMOCRATIC POLITICIAN DOING THE SAME?
If you are like me, when the financial crisis revealed all the massive fraud and corruption, I said ....how did the American people not know all this was happening? Well, as I fight with NPR, our public media....you see where they are not working for the people.....sadly.
MY COMMENTS TO NPR'S NEW MARKETPLACE NEWS FORMAT TO THE NPR OMBUDSMAN:
First, I want to note that to comment on Marketplace NPR news; it seems for much you have to go to their website. Now that corporate news on an Public Radio station seems a bit odd, given the predatory and criminal frenzy of business on the public, at present, it is hard to even comment in a public forum on the news given. You see me here, writing to you instead of on a public comment forum. In Baltimore, our WYPR has been taken over by corporate interests....they don't even fundraise anymore because large donations have closed the general public from input and content control of their own public stations (sound like government lobbying? It's just the same). So it is appearing that America's free press is at threat along with the civil liberties, Rule of Law, and all things democratic.....all topics the size of Hurricane Katrina and 9 - 11 combined, but where is the public news coverage for the public? It has become Marketplace news. What a shame to see the transition of an organization for which I worked and grew old.
My comment has to do with the education piece on Philadelphia where the parent protesting the closing and privatizing of public education with charters was countered by a government official saying if you protest, what is the solution when the money isn't there? Here's NPR's conflict....the Gates Foundation funds this NPR segment and the Gates Foundation is working with Wall Street and Arne Duncan to..........you guessed it........privatize public education with charters.
They are doing the same in my home of Baltimore. We know why the school system doesn't have the money; it is being funnelled around government coffers through fencing of affluent property taxes and the creation of these shell non-profit B Corps and granting agencies. This highly illegal policy of laundering affluent money around existing governmental functions so that the wealthy choose where their money is spent.......on their development projects.......would be a hot item for a public news media. Fraud, corruption, the end of public education is all good information for the general public. Now, how do we get our public news media back? Please let me know your thoughts for action!
My comment is on the IPO offering of Facebook. As an academic who studies financial markets, I have been reading for a year about the Facebook investors......behind the scene investors who were privy to early investment as the company grew to what all know is now its peak value......and at $100 billion, we all know that is greatly inflated so the banks and the original investors can reap great profits. The general public was fenced off from investing until all the gains from growth are gone and now will be an influx of average investors who buy high to boost these select investors profits only to see little or falling growth. We all know that is the model, and yet NPR news reported it as an IPO ready to buy. I will give Tess Viegland a nod for saying not to invest in it, but she didn't explain that the system was rigged against your listeners.
POLITICIANS ARE REMAINING SILENT AS OUR FINANCIAL SYSTEM BECOMES EXPOSED TO LESS RULE OF LAW AND STABILITY WITH CHINESE MARKETS. HANDING OVER OUR PENSIONS......REALLY?
May 14, 2012, 8:26 a.m. ET
China May Give Foreign Pension Funds New Investment Opportunities SHANGHAI— Wall Street Journal
China is considering setting up a new way for foreign pension funds to invest in its vast capital markets, according to people familiar with the matter, in the latest effort to prop up the country's listless stock market. Chinese authorities are mulling creating a new mechanism for foreign pension funds outside the country's main official investment program for international investors, according to people who have been briefed on the matter. Currently, foreign investors have limited access to Chinese markets except through programs such as the Qualified Foreign Institutional Investor, or QFII, program. Pension funds from Taiwan, Hong Kong and Singapore without QFII licenses may be among the first batch of investors to be included in the new scheme, one of the people familiar with the matter said. Officials at China's securities regulator, central bank and foreign exchange regulator couldn't be reached for comment. It remains unclear when the authorities will make a decision on or release more details about the matter, the people said. The revelation comes as Beijing has stepped up its efforts to shore up confidence in its stock market, which has suffered from weakened investor demand, widespread investor perceptions of insider trading and price manipulation and concern over China's slowing economy. The benchmark Shanghai Composite Index has fallen nearly 17% over the past year, compared with a nearly 13% drop in the broader Dow Jones Asia-Pacific index over the same period. In response, regulars have cut trading costs, are reforming new listing rules and are encouraging long-term institutional investors such as pension funds, both local and foreign, to enter the market. It has also expanded brokerages' businesses and let foreign companies boost their presence in local securities joint ventures among other measures. China's securities regulator is also mulling over opening up the country's capital markets to international hedge funds by launching a feasibility study on broadening the scope of the QFII program to include such investors, a person familiar with the situation said last week. The government has also notably sped up the approval for fresh QFII applications in recent months. China's main securities regulator had granted 28 new QFII licenses in the first four months of this year, compared with a total of 29 for the whole of last year. The changes are taking place over a broader effort to gradually loosen China's capital controls, a necessary move to give China's currency a greater international presence. Other moves include creating a yuan trading hub in Hong Kong, a loosening of some limits involving the bond market and other moves, though the mainland market is still tightly limited for foreign investors. In another related move, China may also soon allow QFII license holders to open new yuan-denominated onshore bank accounts, in addition to their sole existing accounts under the QFII program, that are designated for investment in China's nascent stock index futures market, the people said. The Chinese central bank is expected to release guidelines on the opening of the new accounts soon, the people said. —Amy Li