The following articles are updates on the HUGE sums of money manipulating our financial system and influencing our government. Keep informed!
I read the following news items three times. The derivatives market — a risky, opaque Wall Street casino-type gamble — is a $600 TRILLION industry operated by hedge fund managers. And Republican congressmen are fighting restoration of capital gains tax rates on these hedge funds that were reduced in Bush’s tax cuts. Instead they want to reduce the deficit by cutting benefits to the needy and middle class. Fight back!
DERIVATIVE RULES TIGHTENED
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The San Diego Union-Tribune Business Section July 8, 2011
"Federal regulators adopted the first in a series of new rules for the derivatives market, greatly expanding the government’s ability to police and pursue insider trading and other fraud cases in a $600 trillion industry that played a central role in the financial crisis."
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BANKERS PAY EYED
The San Diego Union-Tribune Business Section, July 7, 2011
"Federal regulators will be able to take back two years of pay from executives deemed responsible for a large bank’s failure."