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When do you wake up America and demand that people go to prison along with having corporate charters revoked?

Washington D.C., May 26, 2015 — The Securities and Exchange Commission today charged Deutsche Bank AG with filing misstated financial reports during the height of the financial crisis that failed to take into account a material risk for potential losses estimated to be in the billions of dollars.

Deutsche Bank agreed to pay a $55 million penalty to settle the charges.

This isn't the same Deutsche Bank that was involved in Libor rigging, was it?

Oh wait....

They called each other “dude,” “mate” and “amigo,” suggesting a certain innocence to their friendship. And yet at the center of their dispatches, United States and British authorities say, was actually a collusive effort to manipulate worldwide interest rates.

It is!

Oh, and as for the Forex rigging DB is not in the clear there either -- they just haven't gotten to them yet (you know, there's a lot of letters in the alphabet, right?)

The DoJ, the DFS and other agencies are continuing to investigate other banks, including HSBC and Deutsche Bank, for alleged forex rigging and settlements in those cases could come later this year.

So why is it again that we as Americans sit for this crap and refuse to demand that people go to prison and corporate charters be revoked?

If you'd like a (partial) list of the repeated criminal behavior of these institutions you can find it here.  And let me point out that this is nowhere near the "first" time someone's pointed this sort of repeated lawless behavior out -- I wrote articles on this very point several years ago.

The difference between robbery and charity is consent, exactly as is the difference between sex and rape.

You're consenting to repeated and outrageous acts of robbery through your lack of action America.

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Buried toward the end of this article is an admission that I don't think Megan intended....

It seems as if states where insurers initially underpriced are now trying to move toward a natural price somewhere between $3,600 and $5,000 a year for a single nonsmoker. If that's the price of providing basic benefits, regulators cannot command it away by fiat; the best they can do is to force insurers out of the market.

If that's the price of providing these so-called "basic benefits" then for the average family the entire Health Care structure in this country is unaffordable, period, and must be burnt to the ground in some form or fashion (one would hope politically!) or it will collapse.

The median family pretax income is about $50,000 a year.  That means two adults and, on an average basis, one or two kids.

There is no possible way that "health insurance" that comes with a $6,000 deductible per year, per-person can be assessed against said median family to the tune of north of $10,000 a year; that's 1/5th of pretax income -- if nobody in your family gets sick!  If one of you does or has a chronic condition you can basically double that figure.

10% all in for said expenses might be affordable, but that's well under half of the so-called "market" price and assumes the kids cost zero, which of course they don't.  It also assumes you're a median family; half the nation is below that and that you're all healthy.

There is no answer possible through diddling the so-called "health insurance" marketplace.  The only means to address the problem is to radically attack cost of not "insurance" but rather the care itself.

I assert this is not impossible despite the claims otherwise.  In fact, I assert it's not even all that difficult from a technical perspective.  If we were to treat the provision of routine health care the same way we treat the provision of routine automobile care, where prices had to be posted, binding estimates before treatment were issued and anti-trust laws were fully enforced prices would fall like a stone.  If we then applied the same consumer protection laws that forbid price-gouging when there's a hurricane coming to those having a heart attack even most catastrophic events would be able to be insured against for less than the cost of auto insurance.

I understand that nobody on either side of the aisle wants to do this but this is no longer a matter of what you want.  It is now a matter of what we, as a nation, can afford and the left side of the aisle is now frequently pointing out that simply on the math the numbers do not add up.

You cannot deficit spend your way out of this trap because when you attempt that the value destruction is immediate and impossible to avoid.  You cannot tax your way out of this trap because there is no enough value available to be taxed.

Our current structure subsidizes 5 billion on this planet with our 330 million.  If we apply on a consistent basis the doctrine that when you own a thing you have the right to trade in and dispose of it as you wish while monopolies and restraint of trade are felonious rather than meritorious the cost of medical care in other nations might rise by 50% but it would fall by 80-90% here.

We must, as a nation, put a stop to this crap.

Here.

Now.

Today.

Period.

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Another take on the "Fast Track" death-spiral Obama and our Congress is putting through.

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To use https on The Market Ticker you need to specify the port to connect on, which is "21443"; in other words you would type this into your browser:

http[s]://market-ticker.org:21443  (Remove the "[" and "]", of course...)

In the alternative if you are on the tickerforum page using https and click the top banner the system will figure out the correct syntax and forward your connection for you.

Note that you must be signed on persistent for this to work as the system must receive a valid login cookie or it will refuse to connect; if you're not you will get a pink-screen error stating that https is not available for your user classification.  To sign in persistent go to any topic on the Market Ticker where there are comments allowed and you will see a bar with a "Login" option if you are not signed on.  Sign in and click the "Remember Me" box; that will remain valid for one year.  You may also check the "use HTTPS" option on the login screen.

If you simply use https in front of market-ticker.org you will get a browser security warning, as the domain associated with that address is tickerforum.  However, if you ignore that warning intentionally (tell your browser to connect anyway) the system will figure out what you're attempting to do and immediately redirect your connection to the correct port.

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During all the drinking you did last night I suppose you could be forgiven for missing this one:

One person was arrested Sunday evening after a bomb squad detonated a pressure cooker that was found in a vehicle near the U.S. Capitol building. 

U.S. Capitol Police spokeswoman Lt. Kimberly Schneider said in a statement that Israel Shimeles of Alexandria, Va. was arrested and charged with "operating after revocation". She did not elaborate on the nature of the charge. 

The bomb squad was called because there was a pressure cooker and, apparently, a propane tank in the car.  They destroyed the windows of the vehicle, extracted the evil pressure cooker and found that it contained..... nothing.

Oh, and before blowing it up they managed to check into the ownership and it apparently belonged to a food truck vendor for the rather ordinary use of cooking food; said trucks are pretty common around the downtown DC area (I've had a bite from one in the past.)

But, having decided that irrespective of the owner's story checking out as valid they blew it up anyway, they did serious damage to the vehicle and they arrested the owner for "operating after revocation" despite the fact that the car was parked; in other words, nobody was operating anything.

Look, I get it -- terrorists have used pressure cookers as bombs, specifically in Boston.  But before blowing this one up they found the owner, checked it (and him) out, and discovered that he had a perfectly legitimate reason to have a pressure cooker.  Why not simply ask him to open it up at a reasonably safe place instead of blowing it up?

I'll tell you why -- then the "Rambo" boys in blue costumes would be all sheepish, would have had to apologize (and perhaps pay for the windows they broke in his car) and they wouldn't have gotten to play with their explosives yesterday.  Never mind the obvious risk that could have been avoided and transferred to the owner alone if they had simply asked him to open it in a safe place -- if there was a bomb in there he would have been the only one blown to bits.

As for the "arrest" isn't it interesting how suddenly after you destroy private property for what turns out to be no valid reason you have to search and search and search until you can find something to hang on the guy, even though he wasn't driving when you encountered him?

Yeah.

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