Posts Tagged ‘economy’

Libor Scandal Investigation Claims 7 Banks in Subpoenas

7 Banks in Libor Lawsuits Supoenaed

Photo: up2datenews.com

Libor Scandal Investigation Claims 7 Banks in Subpoenas

Authorities have been investigating London’s interbank interest rate. Earlier this summer, Barclays was fined by U.S. and U.K. officials to settle charges of manipulating the rate. The latest subpoenas come in a probe by state regulators in New York and Connecticut.

Seven banks have now been subpoenaed in an investigation involving LIBOR, that’s the London Interbank Offered Rate, or the rate at which banks lend money to one another.

The Libor scandal that rocked Barclays is far from over for some of the world’s biggest banks.

The Largest Banking Scandal in History: The Libor Scandal Explained

 The Largest Banking Scandal in History: The Libor Scandal Explained

Late last month, Barclay’s Bank, a multinational bank and financial institution based in the United Kingdom, admitted to regulators that it tried to manipulate something called “Libor” before and during the financial crisis in 2008. “Libor” is an acronym for London Interbank Offered Rate. It is a rate used as a benchmark for the cost of lending throughout the financial system, and it is also used as a reference rate for a wide range of financial products like car loans, adjustable-rate mortgages, student loans and credit cards.

CNN Interview with TD Jakes Sets Him Up to Speak On Eddie Long Scandal [VIDEO]

CNN video with TD Jakes on Eddie Long

CNN Interview with TD Jakes Sets Him Up to Speak On Eddie Long Scandal [VIDEO]

We have never really been a fan of Don Lemon of CNN but he did an outstanding job by sliding in the questions he wanted to address about recent sex scandals in America and namely about Bishop Eddie Long.

US Postal Office Nearly in Default and Could Close By End of Year

^ Click image to read graph ^

US Postal Office Nearly in Default and Could Close By End of Year

This is really serious business, folks. Though we were anticipating many job cuts and fewer mail delivery days to come, what would we do if we do not receive any mail? We don’t think it will get to that point, but Congress will have to do some serious strategic thinking to improve on this for the long haul.

Read the report below:

Cloward and Piven Plan- Obama Wants You to DEPEND on Him Only?

We  hadn’t heard about this Cloward and Piven Plan that’s all over the internet right now (no#1 google trend) but we found it very interesting. So what we found out is that Cloward and Piven Plan has a strategy that will ultimately “make” us depend solely on the government! Yes! Your beloved U.S President Barack Obama.

Let’s break it down for you. This “plan” is one that the President is diligently following two Columbia University professors who have created this Cloward  and Piven Plan.  This plan is to use a system to overwhelm and break down the economy and cause crises and social chaos. They want to end capitalism and this country!