Thursday, May 31, 2012

Bill Black: Congressional Appointments to House Finance Committee used primarily to Bolster Campaign Contributions

On the House Finance Committee: The House Finance Committee has been expanded dramatically because anyone who is put on the committee will get a fortune in campaign contributions. When either party has a closely contested race, the candidate is often put on the committee - in order to bolster their contributions.

On JP Morgan's Hedging: JP Morgan is lying about their activities when they call trades gone bad "hedges".

On Dodd Frank: If Dodd Frank was serious, it would say one thing: "The Commodities Futures Modernization Act is repealed."

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CWF