This Is Where Bad Bankers Go to Prison (jdargis)
It may not be hard time, but it’s a far cry from the giddy days when the Kaupthing bankers hosted parties for clients aboard yachts in Monte Carlo and hired the likes of pop legend Tom Jones to serenade guests at London galas. In sentencing these financiers to serve terms of up to 5½ years, the Icelandic courts have done something authorities in the world’s two great banking capitals, New York and London, haven’t: They’ve made bankers answer for the crimes of the crash. “The Icelandic banks went overboard,” says Olafur Hauksson, the onetime small-town police chief who in January 2009 was appointed special prosecutor to investigate the banking cases. “They were basically bankrupt.”
This morning we got another confirmation of how supernational organizations “plan” European crises in advance to further their goals, when Wikileaks published the transcript of a teleconference that took place on March 19, 2016 between the top two IMF officials in charge of managing the Greek debt crisis – Poul Thomsen, the head of the IMF’s European Department, and Delia Velkouleskou, the IMF Mission Chief for Greece.
Ominous Population, Job, & Housing Trends (Chris H.)
Since ’00, the population of 55+ Americans has grown by 27 million (+45%) and full time employment among this segment risen by 10 million (+93%). A large swath of boomers did not and have not retired maintaining existing or establishing new full time work. Theoretically, they are willing to work for less to maintain medical benefits and bridge shortcomings in their retirement savings.
Total Inequality (jdargis)
Total Inequality is not merely income inequality (although it matters) nor merely wealth inequality (although that matters, too). Total Inequality would refer to the sum of the financial, psychological, and cultural disadvantages that come with poverty. Researchers cannot easily count up these disadvantages, and journalists cannot easily graph them. But they might be the most important stories about why poverty persists across time and generations.
The U.S. Department of Housing and Urban Development – which ironically was founded to end poverty and racial injustice in housing – proposed a law last month that would make living in a recreational vehicle – and potentially a tiny home – illegal.
The Truth Behind U.S. Jobs Data (Tiffany D.)
While the data was positive on the surface, a little digging reveals the real picture. In fact, March layoffs were 31% higher than the same month a year ago, making it the fourth consecutive year-over-year increase. For the first quarter, employers announced a total of 184,920 job cuts, a 31.8% increase from the first quarter of 2015.
“A dishonest husband is as much a fraudster as Bernard Madoff,” Martin Kenney, an asset recovery specialist in the British Virgin Islands who has worked on behalf of wives from Russia, the United Kingdom, Switzerland and the United States, told ICIJ. “These offshore companies and foundations . . . are instruments in a game of hide and concealment.”
At the heart of Elena Rybolovleva’s legal battle was the allegation that her estranged husband — now ranked by Forbes as Russia’s 14th richest man — had used tax havens to help obscure real estate and other wealth.
It can be ordered in advance in dozens of countries, including the UK, Republic of Ireland, Brazil, India, China and New Zealand.
Potential car owners need to put down $1,000 deposits to reserve their vehicles.
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