Tag: Citibank

Academic Study Finds that One of the Four Largest U.S. Banks Could Be at Risk of a Bank Run

Ms. Cat

The systemic threats to the U.S. financial system were not remedied when Congress passed the watered-down Dodd-Frank financial reform legislation in 2010. While that has been evident with each Federal Reserve bailout of the mega banks and their derivative counterparties, the threat has now gained increased urgency for Congress to confront as a result of a new academic study. A team of four highly-credentialed academics at four separate universities present compelling evidence that one of the four largest U.S. banks, with “assets above $1 trillion,” could be at risk of a bank run.

Academic Study Finds that One of the Four Largest U.S. Banks Could Be at Risk of a Bank Run

UN high court finds US seizure of Iranian assets violated treaty + More

Ms. Cat

In 2016, the U.S. Supreme Court ordered nearly $2 billion in assets of Iran’s state bank, frozen in the U.S., to be paid as compensation to relatives of victims of attacks linked to Iran.

UN high court finds US seizure of Iranian assets violated treaty

Related:

International Court of Justice orders US to compensate Iran for frozen assets

ICJ judgments are legally binding, however, the court has no means of enforcing them. Previously, both the US and Iran have ignored the court’s judgments.

US Hails ICJ Ruling On Iran Assets As ‘Major Victory’

“The court’s decision today rejected the vast majority of Iran’s case, including notably Iran’s claims on behalf of Bank Markazi,” said acting legal adviser Rich Visek of the US State Department.

Smedley Butler on Interventionism

Ms. Cat1 Comment

Excerpt from a speech delivered in 1933, by Major General Smedley Butler, USMC.

War is just a racket. A racket is best described, I believe, as something that is not what it seems to the majority of people. Only a small inside group knows what it is about. It is conducted for the benefit of the very few at the expense of the masses.

Smedley Butler on Interventionism

Related:

War Is A Racket

“War Is A Racket” By Maj. Gen. Smedley D. Butler, Read By Jon Gold

The Fed’s Inspector General Clears Jerome Powell of Wrongdoing in the Trading Scandal, One Day After Five Senators Accuse Him of Hampering the Investigation

Ms. Cat

By Pam Martens and Russ Martens, July 15, 2022

Yesterday afternoon, Mark Bialek, the Inspector General of the Federal Reserve, released a memorandum clearing Fed Chair Jerome Powell and former Fed Vice Chair Richard Clarida of wrongdoing in the trading scandal that has engulfed multiple officials of the Federal Reserve.

The Fed’s Inspector General Clears Jerome Powell of Wrongdoing in the Trading Scandal, One Day After Five Senators Accuse Him of Hampering the Investigation

Related:

Senators on Senate Banking Committee Accuse Fed Chair Powell of Hampering Trading Scandal Investigation

Redditors Are Furious at the SEC’s New Ad Campaign Portraying them as Idiot Investors

Ms. Cat

By Pam Martens and Russ Martens: June 2, 2022 ~

Redditors at the subreddit Superstonk are posting obscenities directed at Gary Gensler, Chair of the Securities and Exchange Commission (SEC), over the new ad campaign from the SEC that appears to target young Reddit investors as fools that do no research before investing, lose all their money, and deserve a whipped-cream pie in the face. (Yes, a young investor actually gets a whipped-cream pie in the face during two of the ads. See videos below.) CNBC ran one of the new SEC ads yesterday.

Redditors Are Furious at the SEC’s New Ad Campaign Portraying them as Idiot Investors