Archive for the ‘Video’ Category
Matt Taibbi: World’s Largest Banks Admit to Massive Global Financial Crimes, But Escape Jail (Again)
There seems to be a rule that a banker or financier, regardless of the financial crimes committed, cannot be indicted, much less go to jail. (Bernie Madoff is a notable exception.) Democracy Now! has a video interview (with transcript) of Matt Taibbi on the recent government action that once again let bankers walk free—and not even suffer financial penalties, since the bank itself picks up the tab for the fines. Their blurb:
Five of the world’s top banks will pay over $5 billion in fines after pleading guilty to rigging the price of foreign currencies and interest rates. Citigroup, JPMorgan Chase, Barclays and Royal Bank of Scotland pleaded guilty to conspiring to manipulate the price of U.S. dollars and euros exchanged in the $5 trillion FX spot market. UBSpleaded guilty for its role in manipulating the Libor benchmark interest rate. No individual bank employees were hit with criminal charges as part of the settlements. We are joined by Matt Taibbi, award-winning journalist with Rolling Stone magazine.
Very interesting talk. I have type-2 diabetes, and my doctor has been very pleased with the effects of the LCHF diet on all my blood numbers, not just the HbA1c—serum cholesterol, good and bad triglycerides, etc. (It’s called low-carb, high-fat to emphasize that the calories lost by cutting way back on carbs are replaced by calories from eating fat, not protein: protein levels remain much the same. Carbs down, fats up, protein stays steady.)
Absolutely stunning performance. I hope the kid listens to a lot of Art Tatum, too. Take a listen:
There’s more on YouTube—for example, this:
And here’s a NY Times profile by Nate Chinen.
Lee Fang reports in The Intercept:
Searching for the “best kept secret in outsourcing,” one that can “provide you with all the advantages” of domestic workers, but with “offshore prices”? Try prison labor!
That’s the message of Unicor, also known as Federal Prison Industries, a government-owned corporation that employs federal workers for as little as 23 cents an hour to manufacture military uniforms, furniture, electronics and other products.
Though FPI markets itself as an opportunity for inmates to obtain skills training, critics have attacked the program as exploitative. Small business owners have also complained that FPI’s incredibly low wages make it impossible to compete.
What’s more, businesses that partner with FPI are organized and regularly lobby the government on prison-related issues. Their trade group, the Correctional Vendors Association, lobbied Congress last year on the Justice Safety Valve Act, a bipartisan bill giving judges the power to impose a sentence below the mandatory minimum, including in drug-related cases.
View FPI’s promotional video here or below.