Nomi Prins: The Clintons & Their Banker Friends

In the coming months, however many hours Clinton spends introducing herself to voters in small-town America, she will spend hundreds more raising money in four-star hotels and multimillion-dollar homes around the nation. The question is: “Can Clinton claim to stand for ‘everyday Americans,’ while hauling in huge sums of cash from the very wealthiest of us?” This much cannot be disputed: Clinton’s connections to the financiers and bankers of this country – and this country’s campaigns – run deep. As Nomi Prins questions, who counts more to such a candidate, the person you met over that chicken burrito bowl or the Citigroup partner you met over crudités and caviar? Via TomDispatch.com, The Clintons and Their Banker Friends The Wall Street Connection (1992 to 2016) [This piece has been adapted and updated by Nomi Prins from chapters 18 and 19 of her book All the Presidents’ Bankers: The Hidden Alliances […] Read More

Meet The “Access To Affordable Mortgages” Act: How Congress Will Create The Next Crisis

Submitted by Simon Black via Sovereign Man blog, Say hello to the next financial crisis, brought to you courtesy of the dumbest new bill of the week: H.R. 5148: Access to Affordable Mortgages Act. Ordinarily whenever an individual wants to borrow money for a mortgage, the bank conducts due diligence… both on the borrower as well as the property. It’s in the banks’ interest (as well as the banks’ depositors) to ensure that the property is at least worth as much as the amount being borrowed. Duh. Congress doesn’t agree. Apparently when banks conduct property appraisals, that seems to unfairly discriminate against some segment of the population trying to buy crap properties. And we certainly can’t have that going on in the Land of the Free. So with HR 5148, Congress aims to exempt certain ‘higher-risk mortgages’ from property appraisal requirements. Curiously, this legislation reverses several provisions in the […] Read More