Monthly Archives: April 2010

Is Citigroup Purposely Getting Rid of its Low-interest Citi Credit-Cardholders before August 22, 2010?

H.R. 627 Credit CARD Act Legislation to Protect Consumers Begins to Go Into Effect in 3 Phases: August 20, 2009, then February 22, 2010 with Final implementation on August 22,  2010 President Obama signed into law on May 22, 2009, … Continue reading

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President Obama Hosts Historic Nuclear Security Summit

President Obama hosts historic Nuclear Security Summit in Washington, D.C. The original song by Jonathan Mann: How to Stop the Nuclear Menace is a nice theme song for the conference. Continue reading

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Pro Publica Investigates Magnetar’s Role in Winning Big $ by Betting Against their own CDOs

The Hedge Fund Magnetar reaped big profits in the housing mortgage derivatives meltdown by playing the system at both ends. They designed risky made-to-fail CDOs and then bet against them by purchasing Credit Default Swaps. These guys made out like Wall Street Wizard banditos accumulating billions of dollars while most people lost their shirts and pants. The problem is that the big black hole of these hedge funds are still sucking in unsuspecting people, states and countries with new schemes. Will Congress, the Senate and the Obama Administration have the guts to shine some light and made sure there is real transparency on the black holes of Wall Street? Continue reading

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President Obama Signs Historic Nuclear Disarmament Treaty with Russia

President Obama signed an historic nuclear disarmament treaty in Prague with President Medvedev that will cut nuclear arsenals of both countries by one-third. President Obama said today, April 8, 2010 at the Treaty signing: “The key is for the United … Continue reading

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Big Bank Conflict-of-Interest Deals in California Bond Market with Credit Default Swaps

Big Banks like Bank of America-Merrill Lynch, Barclays, Citigroup, Goldman Sachs, JPMorgan, Morgan Stanley, want it both ways in California. They are underwriting California bonds and betting against these same bonds with Credit Default Swaps. Wait a minute, did we learn anything from the 2008-2009 economic meltdown due to Credit Default Swaps in the Mortgage market? Continue reading

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