Juggling Dynamite

Last night as Democratic hopeful Hillary Clinton promised to crack down on corporations who cheat consumers, I was reminded of this 2004 interview where then Professor Elizabeth Warren described a meeting she had with First Lady Clinton in the late ’90’s on changes being proposed to the bankruptcy bill. Evidently Clinton can change her opinion and support in a heartbeat depending on her interests. Does that mean that a President Hillary Clinton will promote strong reforms to break up the Wall Street that has paid her millions for many years?  Maybe?

The Bill Moyers show released a vintage clip of Senator Elizabeth Warren from 2004. In the video, Professor Warren talks about a meeting she had with then-first lady Hillary Clinton. Here is a direct video link.

The point not to be missed in all of this is that Eric and some others have been capturing and sending proof of daily fraud and security crimes to the SEC and prosecutors every week over the past 5 years and still HFT continues to spread and rape profits and hire high profile characters (like Ben Bernanke) as their PR wing as if it were a legitimate business model. You can follow Eric Hunsader’s work every day on Twitter here. The great insult to injury in all of this is the relentless BS from business channels and mainstream guests that the flash crash of 2010 was a one off now fixed, and that high speed “millisecond” trading is in the ‘best interests’ of legitimate investors.  They think we are all dumb.  And so long as they are allowed to rake in billions from their racket, hey, I guess they are right.

Nanex CEO Eric Hunsader was awarded $750,000 by the SEC today for alerting regulators of suspected irregularities surrounding 2010’s flash crash. Here is a direct video link.

It’s not as simple as changing political parties or leaders, we have to end the finance model that extracts all and justifies everything for its profits, while leaving households, the economy and taxpayers unable to attain financial strength and stability.  The parasite keeps killing the host and captured lawmakers and regulators are accessories to the crimes on both sides of the isle.  See Democratic party head joins conservative campaign to derail modest payday loan regulations:

“Payday lenders fearing modest federal regulations will cut into their vast profit margins have a new, high-profile ally in Washington: The chairwoman of the Democratic Party.

Rep. Debbie Wasserman Schultz (D-FL) is co-sponsoring legislation to delay and permanently muffle pending Consumer Financial Protection Bureau (CFPB) rules to rein in small-dollar lenders that are currently able to levy triple-digit annual interest rates on the nation’s poorest, the Huffington Post reports.”