Posts Tagged ‘Rep. Darrell Issa’

Oh, So The Fed *DID* Hide Documents?

Oh, So The Fed *DID* Hide Documents?

geithnerCourtesy of Karl Denninger at The Market Ticker

From the wire:

WASHINGTON -(Dow Jones)- The special inspector general for the government’s $ 700 billion Wall Street rescue plan is opening a pair of probes into the government’s rescue of American International Group Inc. (AIG), including efforts to slow public disclosure of all of the terms of the deal….

Additionally, Barofsky said he is reviewing the cooperation of the Federal Reserve with his staff’s attempt to conduct an audit of the AIG transactions. Some of the documents recently turned over to the Oversight panel "were not provided to the SIGTARP audit team during the course of the audit."

This is all anyone should need to call for The Fed to be fully audited now and on an ongoing, permanent, annual basis, along with seeing if there is a criminal charge we can locate that fits this (obstruction perhaps?)

Darrell Issa seems to have this one right:

The report, prepared by staff for Rep. Darrell Issa (R., Calif.), calls the central bank a "quasi-governmental agency, unaccountable to the American people." The Fed’s actions during the AIG rescue, including the effort to withhold the names of the insurer’s counterparties, "demonstrates the threat that the Federal Reserve poses to basic principles of American democracy," the report concludes.

Let’s not forget who was running the NY Fed at the time, and what job he holds now.

Oh Timmy?  TURBOTAX TIMMY!

Yeah you. 

I look forward to seeing you in the dock and while you’re in there let’s toss Bernanke in with you – I don’t believe for a second that he wasn’t both aware of and signed off on what you were up to there in New York.

FEDGATE!

 


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Phil's Favorites

Momentum Monday - The Sun Is Shining and Social Distance Themes Are Working

 

Momentum Monday – The Sun Is Shining and Social Distance Themes Are Working

Courtesy of Howard Lindzon

Good morning everyone.

I will go straight to the Momentum Monday video that Ivanhoff and I do each week. You can watch/listen right here.

In August, I wrote about the trend developing in the solar stocks. The solar ETF $TAN continues to hit highs.

Ivanhoff’s reading of the market is a pricing in of a s...



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ValueWalk

Are White Doctors Killing Black Babies? - Lawsuit Possible in DC

By JOHN F. BANZHAF. Originally published at ValueWalk.

Are White Doctors Killing Black Babies? – Lawsuit Possible in DC; Black Newborns 3 Times More Likely to Die Under White Doctors‘ Care – Study

Q2 2020 hedge fund letters, conferences and more

New Studies Find That Black Babies Die More If Cared For By White Doctors

WASHINGTON, D.C. (September 28, 2020) -  While it's long been known that Black babies are much more likely to die shortly after birth than White ones  - in some studies by a 2-to-1 ratio -  a new study suggests one startling explanation.

It found th...



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Zero Hedge

Hope For Hedge Funds? Market Volatility Has Investors Seeking Long-Short Strategies

Courtesy of ZeroHedge View original post here.

Few in the finance industry have suffered at the hands of Fed policy that has driven the stock market nowhere but up over the last decade more than hedge funds. Investors have left hedge funds in droves as the appeal of passive investing has grown, resulting in growing outflows and lower fees.

But now, with volatility returning to the market, it seems as though there could be some hope for hedge funds after all.

Recall, ...



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Kimble Charting Solutions

Key Inflation Indicators Facing Big Test In September!

Courtesy of Chris Kimble

Inflation has long been a word that the Federal Reserve uses but the general markets have forgotten about.

Why? Well because it’s been virtually non-existent for years. Key indicators like commodities (i.e. copper) have been in a down-trends and the Materials Sector (XLB) has lagged… until this year.

In today’s chart 3-pack, we take a look at the Equal Weight Commodity Index, ...



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Digital Currencies

The Great Unbanking: How DeFi Is Completing The Job Bitcoin Started

Courtesy of ZeroHedge View original post here.

Authored by Paul De Havilland via CoinTelegraph.com,

While most of us will prefer to forget the horrors of 2020, DeFi may well prove to be the guarantee of a better, more liberated future...

...



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Politics

'Colossal Backdoor Bailout': Outrage as Pentagon Funnels Hundreds of Millions Meant for Covid Supplies to Private Defense Contractors

 

'Colossal Backdoor Bailout': Outrage as Pentagon Funnels Hundreds of Millions Meant for Covid Supplies to Private Defense Contractors

"If you can't get a Covid test or find an N95, it’s because these contractors stole from the American people to make faster jets and fancy uniforms."

By Jake Johnson

Secretary of Defense Mark Esper and Chairman of the Joint Chiefs of Staff Army Gen. Mark Milley hold an end of year press conference at the Pentagon on December 20, 2019 in Arlington, Virginia. (Photo: Drew Angerer/Getty Images)

Instead of adhering to congressional inten...



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Biotech/COVID-19

How and when will we know that a COVID-19 vaccine is safe and effective?

 

How and when will we know that a COVID-19 vaccine is safe and effective?

How much longer must society wait for a vaccine? ANDRZEJ WOJCICKI/Getty Images

By William Petri, University of Virginia

With COVID-19 vaccines currently in the final phase of study, you’ve probably been wondering how the FDA will decide if a vaccine is safe and effective.

Based on the status of the Phase 3 trials currently underway, it i...



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Chart School

Stocks are not done yet - Update

Courtesy of Read the Ticker

There are a few times in history when a third party said this US paper (stocks, funds or bonds) is worthless.

Here is two.

1) 1965 Nixon Shock - The French said to US we do not want your paper dollars please pay us in gold. This of course led to the US going off the gold standard.

2) 2007 Bear Stern Fund Collapse - Investors said their funds collateral was worth much less than stated. This of course was the beginning of the great america housing bust of 2008.


In both cases it was stated .."look the Emperor is naked!"... (The Empe...

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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

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Mike will show off the TradeExchange's new platform which you can try for free.  

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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