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Tuesday June 02, 2015
News Articles

Elizabeth Warren Has Had It With The SEC's Aid To Wall Street Lawbreakers
HP | Zach Carter | 06/02/15

Sen. Elizabeth Warren (D-Mass.) sent a letter to Securities and Exchange Commission Chair Mary Jo White on Tuesday, criticizing White's leadership as "extremely disappointing," and accusing the regulator of "misleading" her about a rule on CEO pay.

"You have now been SEC Chair for over two years, and to date, your leadership of the Commission has been extremely disappointing," Warren wrote. "I am disappointed by the significant gap between the promises you made during and shortly after your confirmation and your performance as SEC Chair." ... Read more

TSA Agents Failed To Catch 95% Of Mock Bombs And Weapons.

This Is The Hourly Wage You Need To Afford A 2-Bedroom Apartment Around The U.S.
HP | Carly Ledbetter | 06/01/15

The National Low Income Housing Coalition released its annual housing report "Out of Reach" earlier this month. The organization calculated the hourly wage a resident would need to earn to afford a moderate, two-bedroom apartment -- and the outlook is grim. The report found that a person earning minimum wage in each state cannot afford to spend only 30 percent of income on such an apartment in the U.S. Out of Reach found that the average hourly wage needed to rent a $1,006 two-bedroom unit in the United States is $19.35 -- or $40,240 per year. That's more than two and a half times the federal minimum wage, the report noted, and $4 over the estimated average wage of $15.16 that renters earn nationwide. ... Read more
Click picture to zoom in

Hacked Emails Expose George Soros As Ukraine Puppet-Master
ZeroHedge | author | 06/02/15

Just days after George Soros warned that World War 3 was imminent unless Washington backed down to China on IMF currency basket inclusion, the hacker collective CyberBerkut has exposed the billionaire as the real puppet-master behind the scenes in Ukraine. In 3 stunning documents, allegedly hacked from email correspondence between the hedge fund manager and Ukraine President Poroshenko, Soros lays out "A short and medium term comprehensive strategy for the new Ukraine," expresses his confidence that the US should provide Ukraine with lethal military assistance, "with same level of sophistication in defense weapons to match the level of opposing force," and finally explained Poroshenko's "first priority must be to regain control of financial markets," which he assures the President could be helped by The Fed adding "I am ready to call Jack Lew of the US Treasury to sound him out about the swap agreement." ... Read more

More News
  1. Greece, creditors exchanging documents to reach deal - Commission (Reuters)
  2. Greece's Creditors Reach Consensus on Proposal to Athensa (WSJ)
  3. Greece calls on lenders to accept 'realistic' plan sent on Monday (Reuters)
  4. Hundreds missing, many elderly tourists, after ship capsizes on China's Yangtze (Reuters)
  5. Oil up ahead of OPEC meeting as dollar slips (Reuters)
  6. U.S. Met Secretly With Yemen Rebels (WSJ)
  7. Euro zone back to inflation as May prices beat forecast (Reuters)
  8. Patients Get Extreme to Obtain Hepatitis Drug That's 1% the Cost Outside U.S. (BBG)
Jon Stewart
Jon Stewart | Patriot Act and an NSA 'Emergency' (06/02/15) [6:09]
Jon Stewart | Lindsey Graham Enters the Presidential Race (06/01/15) [4:25]
Jon Stewart | Retired Army general Stanley McChrystal talks about adapting to military and regional instability in the Middle East (06/01/15) [7:21]

Democracy Now! U.S. and World News Headlines for Tuesday, June 02 [8:24]
*DN | WikiLeaks Launches Campaign to Offer $100,000 "Bounty" for Leaked Drafts of Secret TPP Chapters (06/02/15) [11:41]
DN | As U.S. Drops Havana from Terror List, Cuba Aims to Preserve Sovereignty & Independence (06/02/15) [8:52]
Older Videos
BBC | Daylight Robbery: What Happened to the $23billion? (older, but good 2008) [58:32]
*CorbettReport & BFP | Corporatocracy: How the Corporate Welfare State Divides and Conquers (02/11/14) [14:05]
*TRNN | Christien Appy: Vietnam - Body Counts and America as Victim, Part 4 (06/02/15) [24:13]
*TRNN | Marcy Wheeler examines: Vast Majority of Spying Will Continue Despite Expiration of Patriot Act Provisions (06/02/15) [8:45]
*TYT | Rand Paul Causes A Vicious Senate Cat Fight Over Patriot Act (06/01/15) [8:49]
TYT | Huge Bernie Sanders Crowds Surprise Everybody -- Hillary Worried? (06/01/15) [8:09]
TYT | TV Station Refuses To Air War Veteran/Republican Ad Because He's Gay (06/01/15) [4:58]
TYT | Bruce Jenner To Reveal Himself As A Woman On Cover Of Vanity Fair (06/01/15) [10:52]
TYT | His Hate Rally Failed, Now He's Sorry, Then A Shocking Ending (06/01/15) [8:53]
Thom Hartmann - www.thomhartmann.com/
*ThomHartmann | How to Prevent the Next Global Recession (05/28/15) [57:28]

06.02.2015. 10:52

Monday June 01, 2015
News Articles

Challenging Hillary Clinton, Bernie Sanders Gains Momentum in Iowa
NYTimes | Trip Gabriel | 05/31/15

A mere 240 people live in the rural northeast Iowa town of Kensett, so when more than 300 crowded into the community center on Saturday night to hear Senator Bernie Sanders of Vermont, many driving 50 miles, the cellphones of Democratic leaders statewide began to buzz.

Kurt Meyer, the county party chairman who organized the event, sent a text message to Troy Price, the Iowa political director for Hillary Rodham Clinton. Mr. Price called back immediately. "Objects in your rearview mirror are closer than they appear," Mr. Meyer said he had told Mr. Price about Mr. Sanders. "Mrs. Clinton had better get out here." ... Read more

Seven Years Later, Wall Street Hasn't Learned Anything
TheAtlantic | Bourree Lam | 05//15

It's been said many times, in many places, even well before the Great Recession: The culture on Wall Street is terrible. It encourages bad behavior. More recently, there are concerns that the Wall Street that caused the financial crisis is back.

A new report by The University of Notre Dame, commissioned by the law firm Labaton Sucharow, which represents whistleblowers, has some alarming numbers to add to this well-trodden narrative. The report surveyed more than 1,200 people in the financial-services industry--account executives, wealth advisors, financial analysts, investment bankers, operations managers, and portfolio managers--in both the U.S. and the U.K. ...

Report/Survey Results
  1. 47% of respondents find it likely that their competitors have gaged in unethical or illegal activity in order to gain an edge in the market. This represents a spike from the 39% who reported as such when surveyed in 2012. This figure jumps to 51% for individuals earning $500,000 or more per year.
  2. More than one-third (34%) of those earning $500,000 or more annually have witnessed or have first hand knowledge of wrongdoing in the workplace.
  3. 23% of respondents believe it is likely that fellow employees have engaged in illegal or unethical activity in order to gain an edge, nearly double the 12% that reported as such in 2012.
  4. 25% would likely use non-public information to make a guaranteed $10 million if there was no chance of getting arrested for insider trading. Employees with less than 10 years' experience are more than two times as likely as those with over 20 years' experience, reporting 32% and 14% respectively.
  5. In the UK, 32% of individuals said they would likely engage in insider trading to earn $10 million if there was no chance of getting arrested, compared to 24% of respondents from the US.
  6. Nearly one in five respondents feel financial services professionals must at least sometimes engage in illegal or unethical activity to be successful.
  7. 27% of those surveyed disagree that the financial services industry puts the best interests of clients first. This figure rises to 38% for those earning $500,000 or more per year.
  8. Nearly one-third of respondents (32%) believe compensation structures or bonus plans in place at their company could incentivize employees to compromise ethics or violate the law.
  9. 33% of financial services professionals feel the industry hasn't changed for the better since the financial crisis.
Read more

Wall Street Is Using the Power of Dodd-Frank Against Itself
NYTimes | author | 05/27/15

Regulating Wall Street is an Old Testament sort of affair: Like Leviticus, it is all about the persnickety details. But politicians try to talk about it in New Testament terms, with sinners and saints, salvation and damnation. Only they can't agree on who the sinners are -- the bankers or the bureaucrats -- and wherein lies salvation. Such moralizing, however, does very little to shine light on the benefits and drawbacks of the byzantine 2010 banking regulations known as Dodd-­Frank.

Dodd-­Frank is a sprawling piece of legislation, divided into 16 sections that together represent the most drastic change in financial regulation since the Great Depression. The law created multiple government bodies tasked with monitoring and intervening in financial markets. In the event of crisis, it stipulates new ways to dissolve large banks without requiring government bailouts. The law also created the Consumer Financial Protection Bureau, increases the regulation of hedge funds and does several thousand other things, big and small. ... Read more

BillMoyers: Morning Reads
  1. On Thursday, Pataki said, "Today, there is one former member of Congress lobbying for every current member and the first thing I would do is ban members of Congress from ever lobbying. If you serve one day, you are banned, go home."
  2. On Wednesday, Rick Santorum said, "American families don't need another president tied to big government or big money."
  3. On Tuesday, Bernie Sanders said, "American democracy is not about billionaires being able to buy candidates and elections... we need one person, one vote.
  4. Will Martin O'Malley continue the trend this weekend? Previously, he has called for overturning Citizens United and endorsed the Government By the People Act.
  5. Campaign Finance/Elections
  6. Wall Street Journal: Former SEC Officials Want Disclosure of Corporate Political Donations (here)
  7. Free Speech for People: Actress Debra Winger Joins Congressman Jim McGovern in Cambridge Calling for a 28th Amendment to Reclaim Democracy (here)
  8. New York Times: Polluted political games (here)
  9. Texas Tribune: Ethics Reform: A Guide to What's Still Alive (here)
  10. Campaign Legal Center: New Litigation Summary from CLC Reveals Ongoing Flood of Challenges to Campaign Finance Laws (here)
  11. Brennan Center: Courts Shine Light on Dark Money (here)
  12. The Nation: The Conservatives Who Gutted the Voting Rights Act Are Now Challenging 'One Person, One Vote' (here)
  13. The Atlantic: Could Hillary Clinton Be the Champion Campaign-Finance Reform Needs? (here)
  14. Congress/Admin/2016
  15. CNN: Congress flocks to Taylor Swift concert (here)
  16. Buzzfeed: Former House Speaker Dennis Hastert Indicted On Federal Charges (here)
  17. Heh. RT @DavidAxelrod: One irony of Hastert's statement to FBI about not "trusting banks" is that the lobbying firm for which he worked represents them. (here)
  18. National Journal: Jeb Bush's History of Outsourcing His Campaign So He Can Raise Big Money (here)
  19. Buzzfeed: Hillary Clinton Campaign Outlines Plans For Fundraising and First Big Speech (here)
  20. Washingtonian: Metro Bans Political Advertisements for the Rest of the Year (here)
  21. CNN: Will Democrats keep hammering the Kochs? (here)
  22. POLITICO: Rand Paul's money problem (here)
  23. Bloomberg: Chris Christie and Ted Cruz Slam Iran at Adelson Event (here)
  24. QC Times: Sanders: 'It's not about me...it's about you' (here)
  25. Yahoo: Here's where George Pataki will look for campaign money (here)
  26. Yahoo: Here's where Rick Santorum gets his campaign money (here)
  27. The Hill: Bush 41 fundraises for Jeb super-PAC (here)
  28. National Journal: Lindsey Graham Allies Form Super PAC Ahead of 2016 Run (here)
  29. NYT: Gay Hotelier Who Hosted Ted Cruz Made a Campaign Donation, Too (here)
  30. OpenSecrets: Chemical safety law rewrite triggers strong reactions (here)
  31. On June 17th, you can have a "Conservation with John Podesta" at this Clinton campaign fundraiser hosted by the PAC of lobby firm McGuire Woods and former Senator Evan Bayh. (here)
  32. AJC: Private fundraiser serves as Clinton's campaign debut in Atlanta (here)
  33. NYT: On Trade, Unions Open Aggressive Ad Campaign Against Democrats (here)
  34. Good point on Foster Friess saying he'll give to dark money groups to help Rick Santorum: RT @NickConfessore: Consider: a donor says he wants to give money to elect a candidate but will give through groups that claim not to be electing candidates. (here)
  35. POLITICO: Ex-Schock aide dishes to FBI (here)
More News
  1. Senate lets NSA spy program lapse, at least for now (Reuters)
  2. Draghi Deflation Relief Means Little With Greek Threat Unsolved (BBG)
  3. Tepid factory data add to Asian gloom (FT)
  4. Citigroup Likely to Close Banamex USA (WSJ)
  5. Frugality of High Earners in U.S. Shows Long Shadow of Recession (BBG)
  6. Greece's Tsipras Warns Bell May Toll for Europe (BBG)
  7. Carnegie Mellon Reels After Uber Lures Away Researchers (WSJ)
  8. Romário leads drive for Brazilian probe into Fifa (FT)
  9. Faster than China? India's road, rail drive could lay doubts to rest (Reuters)

Democracy Now! U.S. and World News Headlines for Monday, June 01 [10:39]
*DN | Glenn Greenwald: As Bulk NSA Spying Expires, Scare Tactics Can't Stop "Sea Change" on Surveillance (06/01/15) [11:48]
DN | Gay High School Student Delivers Valedictorian Speech He Was Barred from Giving (06/01/15) [18:02]
Good & Great Documentaries
*PBS Frontline | Obama at War (05/26/15) [54:14]
Untold History of United States by Oliver Stone
*Untold History of United States - Bush & Obama: Age of Terror () [59:00]
MORE Untold History Of The United States
Four Horsemen
*Four Horsemen - is an independent feature documentary which lifts the lid on how the world really works. [1:38:54]
TRNN | Shir Hever says: Israel Second Most Unequal Economy in World (06/01/15) [8:20]
TRNN | Professor Edward Hanna says: New Evidence Linking Climate Change to Extreme Weather (05/31/15) [6:34]
TRNN | Prabir Purkayastha and Seema Mustafa discuss: Unresolved Economic and Geopolitical Issues in India-China Relations (06/01/15) [10:07]
TYT | What Will Change If The Patriot Act Expires? (05/31/15) [4:26]
*TYT | Saudi Arabia + ISIS -- It's Complicated (05/31/15) [7:15]
*TYT | Why Do We Tolerate Wall Street's Epic Corruption? (05/31/15) [6:12]
*TYT | Wall Street Is FIFA On Steroids (05/31/15) [10:23]
"It's been said many times, in many places, even well before the Great Recession: The culture on Wall Street is terrible. It encourages bad behavior. More recently, there are concerns that the Wall Street that caused the financial crisis is back.

A new report by The University of Notre Dame, commissioned by the law firm Labaton Sucharow, which represents whistleblowers, has some alarming numbers to add to this well-trodden narrative. The report surveyed more than 1,200 people in the financial-services industry--account executives, wealth advisors, financial analysts, investment bankers, operations managers, and portfolio managers--in both the U.S. and the U.K. to look at whether increased regulations, along with calls for a cultural change, have had any demonstrable effects.

So how does the financial-services industry view its own behavior, legally and ethically? Not so great, it turns out. Nearly half of the respondents felt that it was likely that a competitor has engaged in unethical or illegal activity in order to gain an edge."
*RT | CrossTalk: Empire USA (05/27/15) [24:40]
RT | Keiser Report: We Are All Greeks Now (E764) (06/01/15) [25:25]
Thom Hartmann - www.thomhartmann.com/

06.01.2015. 11:15

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