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Old 05-29-2013, 11:32 AM
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U.S. Bank Earnings Soared To Record $40.3 Billion Last Quarter Buoyed By More Income

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U.S. banks earned more from January through March than during any quarter on record, buoyed by greater income from fees and fewer losses from bad loans.

The banking industry earned $40.3 billion in the first quarter, the Federal Deposit Insurance Corp. said Wednesday. That's the highest ever for a single quarter and up 15.8 percent from the first quarter of 2012, when the industry's profits were $34.8 billion.

Record profits show banks have come a long way from the 2008 financial crisis. But the report offered a reminder that the industry is still struggling to help the broader economy recover from the Great Recession.

Only about half of U.S. banks reported improved earnings from a year earlier, the lowest proportion since 2009. That shows the industry's growth is being driven by a narrower group of the nation's largest banks.

Those banks include Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co. Most of them have recovered with help from federal bailout money and record-low borrowing rates.
http://www.huffingtonpost.com/2013/0...n_3353039.html


Not surprising if we believe in this:

IMF and World Bank: Global Loan Sharks and the Media
http://www.jeffcohen.org/docs/mbeat19940209.html


World Bank Insider Blows Whistle on Corruption, Federal Reserve

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A former insider at the World Bank, ex-Senior Counsel Karen Hudes, says the global financial system is dominated by a small group of corrupt, power-hungry figures centered around the privately owned U.S. Federal Reserve. The network has seized control of the media to cover up its crimes, too, she explained. In an interview with The New American, Hudes said that when she tried to blow the whistle on multiple problems at the World Bank, she was fired for her efforts. Now, along with a network of fellow whistleblowers, Hudes is determined to expose and end the corruption. And she is confident of success.

Citing an explosive 2011 Swiss study published in the PLOS ONE journal on the “network of global corporate control,” Hudes pointed out that a small group of entities — mostly financial institutions and especially central banks — exert a massive amount of influence over the international economy from behind the scenes. “What is really going on is that the world’s resources are being dominated by this group,” she explained, adding that the “corrupt power grabbers” have managed to dominate the media as well. “They’re being allowed to do it.”

According to the peer-reviewed paper, which presented the first global investigation of ownership architecture in the international economy, transnational corporations form a “giant bow-tie structure.” A large portion of control, meanwhile, “flows to a small tightly-knit core of financial institutions.” The researchers described the core as an “economic ‘super-entity’” that raises important issues for policymakers and researchers. Of course, the implications are enormous for citizens as well.

Hudes, an attorney who spent some two decades working in the World Bank’s legal department, has observed the machinations of the network up close. “I realized we were now dealing with something known as state capture, which is where the institutions of government are co-opted by the group that’s corrupt,” she told The New American in a phone interview. “The pillars of the U.S. government — some of them — are dysfunctional because of state capture; this is a big story, this is a big cover up.”

At the heart of the network, Hudes said, are 147 financial institutions and central banks — especially the Federal Reserve, which was created by Congress but is owned by essentially a cartel of private banks. “This is a story about how the international financial system was secretly gamed, mostly by central banks — they’re the ones we are talking about,” she explained. “The central bankers have been gaming the system. I would say that this is a power grab.”

The Fed in particular is at the very center of the network and the coverup, Hudes continued, citing a policy and oversight body that includes top government and Fed officials. Central bankers have also been manipulating gold prices, she added, echoing widespread concerns that The New American has documented extensively. Indeed, even the inaccurate World Bank financial statements that Hudes has been trying to expose are linked to the U.S. central bank, she said.
Read the entire article: http://www.thenewamerican.com/econom...ederal-reserve
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Old 05-30-2013, 06:57 AM
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It's great to see how healthy the banks are after the citizens bailed them out. How are the citizens doing?
 
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Old 05-30-2013, 06:59 AM
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How are the citizens doing?
Not so good, I'm afraid.
 
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Old 05-30-2013, 07:05 AM
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Not so good, I'm afraid.
Hmmm. That's the citizens' own fault, I suppose. They shouldn't have been so fast and loose with their money.
 
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Old 05-30-2013, 07:46 AM
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The class war never really stopped if you take a closer look.

In the middle age, the royalty and the clergy were the only one having access to education, during the industrial revolution, the rich made huge profits when the working class starved to death, now they just transferred the labor to slave labor making huge profits and laying off their own people. The bankers always followed the ruling class, now they surpassed them, now they use the taxpayer money when they fail in business, then keep the money to play again in Wall Street, and create new scams.

You can see the pattern of these people throught time, they will always take the whole part of the pie and starve to death the people whatever the economic status of theirs countries.

They are psychopaths and sociopaths, these people are power hungry, they don't need money anymore, and want the total control of the worldwide people life.

They want to build their kind of society without the people consent (see EU), they are the modern feodalists, they want you to be their new subject.
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Last edited by Franc Tireur; 05-30-2013 at 07:50 AM.
 
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