Wednesday, September 2, 2015

Downtown Greensboro Inc. President Zack Matheny Flip Flops on violence for a DGI board member

Yes Weekly; "Community leaders respond to shooting death outside Lotus Lounge

Gibb said that he had reached out to Lotus Lounge owner, Paul Talley, but that his messages had not been returned. Talley did not return multiple phone calls to YES! Weekly seeking comment on steps he had taken to improve safety for his club patrons and the neighboring community.

Gibb, who is a member of Downtown Greensboro Inc.’s board of directors, said he had spoken to DGI president Zack Matheny about the situation. Matheny indicated that he had spoken to Talley and that Talley was considering closing the club.

A wise person with PR experience told me recently, 
that you really need to get out in front of a story or situation 
with at least a statement, but, we haven't heard anything from DGI.

Zack Matheny to former DGI CEO Jason Cannon,
who Zack got fired to take his job.

“At this point I am not sure if it fits into any neighborhood,” Gibb said. “Back in November we were questioning if it fit with this neighborhood.

When two people get killed in the span of nine months, it’s not a question of what neighborhood it fits into.”

Matheny, who took over as head of DGI this summer, spearheaded the drive to create an enhanced club security ordinance last fall after the November shooting involving Lotus Lounge patrons. His primary concern remains public safety.

“It’s a tragedy. A young man lost his life and a family lost a member,” Matheny said.

When asked what steps could be taken to lessen the environment for possible violence, Matheny was blunt.

“I’m not sure if you can technically lessen the environment,” Matheny said, adding that Talley had taken extra steps to improve safety since last year’s shooting.

Talley also serves on the DGI board and is a “good guy”, Matheny said. The two had talked on Thursday prior to the shooting. Matheny credited Talley for hiring off-duty police to enhance safety around Lotus Lounge.

Based on every communication I have with you, 
it feels that our interactions are adversarial. 

I very sincerely wish  
that we could work together collaboratively 
to move downtown forward. 

Jason Cannon, before Zack had him taken out
so Zack, as a sitting councilman
could take Jason's taxpayer funded job
which Zack and the rest of council voted to fund

“He had been doing a lot. He put into play a lot of what we had discussed previously,” Matheny said. “Within 100 feet there were officers at the time of this occurrence. The question that keeps going in my mind is why? Why do people resort to such violence over really nothing? If it’s something like that, I don’t see how you stop poor decisions and hatred, no matter where officers are.”

Matheny stressed that Downtown Greensboro is a safe place and that both shootings involving Lotus Lounge patrons happened deep into the night.

“By and large we have a tremendously safe downtown,” he said. “This is an incident that occurred at 2:30 in the morning by getting ammunition out of a car. I just don’t get it. I don’t know how you manage that from any standpoint.”

Matheny said he had spoken to Talley, who expressed remorse at Simmons’ death.

“I don’t think that is anything that anybody would want to have on their shoulders,” Matheny said. “I think it will be interesting to see ultimately what the decision is on the future of Lotus.”

Talley has been a “valuable part of the investment in downtown,” Matheny said “I respect that. In this case, at least geographically close to Lotus, there have been some very tragic issues and those are conversations we have to have,” he said. “A lot of people would like to see Lotus gone, and some city officials would like to see that. Having an open communication with (Talley) and just talking through it will be re- ally important.”

http://yesweekly.com/article-20295-community-leaders-respond-to-shooting-death-outside-lotus-lounge.html
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Questions About Safety In Downtown Greensboro

WFMY; Community leaders respond to shooting death outside Lotus Lounge

"I walk these streets every day, all day, and at night, as well," said a Zack Matheny, president and CEO of Downtown Greensboro, Inc. "And, I know I feel safe. But, a young man lost his life, and that's very tough for anybody to stomach."

http://www.wfmynews2.com/story/news/2015/08/31/questions-safety-downtown-greensboro/71490446/

Greensboro Top 10 Tourist Hating City

Well it seems the list of reasons Greensboro Sucks is never ending.

Today we learn that Greensboro is #7 on the top 10 list of cities that hate tourists according to:

"...a new study conducted by private air charter company Stratos Jets, which analyzed thousands of tourist-related tweets from across the country.  

The company used an algorithm to assess the positive or negative sentiment in geotagged tweets featuring the word “tourist,” then used those scores to rank the hospitality of different cities and regions."






Of course, how could a city with the highest unemployment in the state, the hungriest population in the nation and the gloomiest prospects of any place around even love itself much less a bunch of tourists who could really care less about Greensboro for anything more than a place to watch an occasional sporting event and pay jacked-up rates on cheap hotel rooms? 

And people in Greensboro are actually considering reelecting the current city council come November? Seriously?

An email from Greensboro City Council mayoral candidate Devin King to the City's Jim Westmoreland, David Parrish, Chris Wilson, Wesley Reid and Mary Vigue

The City and City Council have answered none of the questions from anonymous City employees and a mayoral candidate, with no accountability whatsoever from Warren Buffett's News and Record.

Berkshire Hathaway's profits are more important to our local paper of record the City of Greensboro's employees and the truth.

I have met with the News and Record's Jeff Gauger twice on this issue, he understands the concept and how it could save City employees money, but won't report it to the detriment of thousands of retirement plan participants and their families.

Joe Killian and Susan Ladd chose/were ordered to not report what they know could save more than 2,800 Greensboro employees more than $500,000 per year.

Joe Killian told me he would look into it and report on it no less than three times.

Now these folks are losing money as financial markets begin to deteriorate.

If the freedom of speech be taken away, 
then dumb and silent we may be led, 
like sheep to the slaughter.


George Washington

When retirement plan values fall, more and more employees are going to be looking for reasons why.

The representatives from ICMA-RC, affiliated with Jim Westmoreland, Mary Vigue and Jamal Fox, are selling a much more expensive retirement plan solution in pre-retirement meetings for City employees.  A "group annuity", which costs more than twice what the average of funds cost in the plan, would go way up in price if the City were to move away from ICMA-RC.

The City has set its own employees up and allowed them to be plundered, along with a threat which would penalise who knows how many if the money is ever moved away.

Westmoreland, Vigue and Connie Hammond let this happen.

City Council went along after being informed of the shortcomings.

They betrayed the City's employees without repercussion, and the News and Record and the Rhino Times let them.
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From: Dev Kng
Sent: Thursday, August 27, 2015 9:39 AM
To: Westmoreland, Jim; Parrish, David; Wilson, Christian A (CMO); Reid, Wesley; Vigue, Mary

Subject: Please provide answers to the following questions;

Please provide answers to the following questions;

1.  Is the basic concept Mr. Hartzman presented to a council work session concerning the City's ICMA-RC 457 plan correct/plausible/doable?

2.  Does the Deferred Compensation Committee have an Investment Policy Statement, and if so, when was it approved and what does it say about investment and administrative fees?

3.  Mr. Hartzman is saying last he asked, that Rick Lusk and Larry Davis had not reviewed his February 24, 2015 presentation.  Is it true that they hadn't reviewed it?  Have they reviewed it? If they did review it, when did they do so?  What were their conclusions from their review?  If they have still not reviewed it, why?  Has the Deferred Compensation Committee reviewed the information?  Has AON Consulting?  Has the City's ICMA-RC representatives reviewed it?

4.  As Mr. Hartzman has asked for someone other than City staff to review the presentation for plausibility, would you please facilitate an outside review with a third party of your choice, without suggestions or input from City management, AON, members of the Deferred Compensation Committee or ICMA-RC?  If you haven't used up your City expense reimbursement allocation, please consider using some of the money for our benefit.

5.  Mr. Hartzman asserts AON Consulting was paid more than $6,000 for work product associated with the plan in January, 2015.  Is this correct?  If so, why is there no documentation of AON's involvement other than the bill, or is there?  What did AON conclude concerning Mr. Hartzman's proposal for all that money?

6.  Why did it take so long for the City to put the presentation on Greensboro's website?  Why isn't Hartzman's presentation attached to the work session agenda?

7.  Did the private meetings held with City Council members refute Mr. Hartzman's assertions concerning the costs of the plan?  If so, why has the information been withheld from the plan's participants?

8.  Is there any documentation from the City, AON or one of Greensboro's vendors rebutting the veracity of what George presented?  Has ICMA-RC responded?

9.  Does the Federal Government's Thrift Savings Plan really cost that much less?

10.  Is it true, even if Greensboro is under a long term contract with ICMA-RC, that the funds can be changed by the Deferred Compensation Committee acting in the best interests of the plan's participants?

11.  Did Greensboro choose to charge the City's employees to pay a surrender penalty to the former provider, if we could have waited for the surrender charges to disappear without payment?

12.  Has anyone with the City attended 'conferences' paid for by ICMA-RC?

13.  Has anyone at the City been taken out for golf, dinners or any other relatively expensive relationship building events by ICMA-RC representatives?  If so, how many times, when and how much was spent on Greensboro retirement plan decision makers?

14.  If Zack Matheny stated George Hartzman's arithmetic concerning our retirement plan was incorrect during a City Council meeting, what was he referring to?  If low cost index funds are clearly less expensive than the higher cost funds in the plan, what reasoning was given to keep the higher cost, lower performing funds?

15.  Is it true the City's Deferred Compensation Committee is not in possession of ICMA-RC's managed account returns sold to Greensboro's employees by ICMA-RC representatives?  Were ICMA-RC representatives given quotas to sell the higher cost managed plans to our participants?Have ICMA-RC's managed accounts outperformed the rest of the plan's funds?

16.  Is it true ICMA-RC's local representative lived/lives a couple houses down from Zack Matheny?  If so, was there contact between the two concerning our money?

17.  Is it true other municipalities pay much lower expenses for some of same plan choices, specifically the VT PLUS Fund?

18.  Is it true the City has not asked ICMA-RC to lower their fees to benefit ourselves and our co-workers?  If ICMA-RC has been asked to lower the fees, when and by whom and what was the outcome?

19.  Was Mr. Hartzman correct in citing ICMA-RC Deputy General Counsel Angela C. Montez, who told him municipalities have the latitude to negotiate fees and switch funds as fiduciaries deem prudent and in the best interests of participants?  Is the Deferred Compensation Committee considered our fiduciaries?

20.  Does the City pay a custodial fee for the VT PLUS Fund?  Is the plan's software infrastructure provided by SunGard?

21.  Are the plan's administration fees dependent on how many plan participants are invested?  Are there actually other municipalities with fewer participants and asset values who pay less than we do for the same thing?

22.  Please explain how an ICMA-RC "Administrative Allowance" works.  Please explain why Greensboro's plan doesn't have an "Administrative Allowance", which lowers administrative costs.

23.  What is the City's ICMA-RC 457 plan "Minimum Annual Administrative Revenue Requirement"?  How should the "Minimum Annual Administrative Revenue Requirement" be used to keep our costs down?

24.  Is there actually a "fund line-up", which George Hartzman says Mary Vigue told him she would acquire, which contains funds with lower fees that could replace some of the current funds ICMA-RC has recommended, and if so, where is it and what's on it?

25.  If the fund list exists, and Madam Vigue didn't provide it if she said she would, why not?

26.  Is the City in possession of the fund list?  Can you call ICMA-RC and get it from them, if it exists?

27.  Is Greensboro paying the same level of fees as Charlotte, even though our plan is about twice as big, and if so, why are we paying more if we have more money invested?

28.  If what George Hartzman is saying about our plan is incorrect, why hasn't the City or ICMA-RC asked for a retraction and/or apology?  Shouldn't ICMA-RC have taken legal action by now?

29.  If the federal government is doing what Hartzman is suggesting with $397 billion for about 4.6 million participants, why would it be a bad idea for Greensboro's employees to do the same?

30. Are retirees being sold more expensive products at retirement plan meetings?
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Since July 1, 2015, City Council and the City's executive staff have not responded to the following;

A July 1, 2015 open letter to Greensboro City Councilman Tony Wilkins from some anonymous City employees invested in ICMA-RC's 457 Retirement Plan, who fear retaliation, without a response from the City

http://greensboroperformingarts.blogspot.com/2015/07/an-open-letter-to-greensboro-city.html
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subject: RE: I was told by Joe Killian in front of Susan Ladd there was to be a story on the 457 plan

http://greensboroperformingarts.blogspot.com/2015/05/subject-re-i-was-told-by-joe-killian-in.html

Hartzman's Retirement Plan Whistle; City of Greensboro Edition, located on the City's Server


http://greensboroperformingarts.blogspot.com/2015/06/hartzmans-retirement-plan-whistle-city.html

Tuesday, September 1, 2015

Chicago Tribune; 1934


Chancellor Gilliam Story A Story Of Excess

Perhaps readers of EzGreensboro.com remember when we broke the story Chancellor Of UNCG Or Chancelor Of A Kingdom?

 "Anyway, I'm being told the Gilliams are asking for $250,000 in new furniture, a new car, chauffeur, cook, maid and butler to support their lavish lifestyle."

And perhaps you remember when we followed up with UNCG Chancellor Rumor Grows Legs:

"But here are some facts about Mr Gilliam and his time as the Dean at UCLA:


"Franklin D. Gilliam Jr., dean of the Luskin School of Public Affairs, has billed UCLA for roughly $17,000 in premium airfares since September 2008, when he started the job. His doctor’s note cites a medical disability that requires business-class accommodations for extended travel – including trips to the East Coast, Midwest and Australia.

Gilliam also has used the note to justify using a car service. An expense report for 2009 limousine rides between Gilliam’s home and the airport said that “because of Dean Gilliam’s disability, it is recommended that he travel with business class arrangements to allow change of positions.”

And just maybe you remember when we asked  What Is The Actual Cost To UNCG And Taxpayers?

" You see, if this is really happening then UNCG employees, aka state employees, are being asked to spend their taxpayer funded time to provide for the securing of $250,000 in new furniture, a new car, chauffeur, cook, maid and butler.
How long will that take? One man hour? 100 man hours?

And isn't that exactly what the UNCG-3 were improperly fired for in the first place? Improper use of State equipment on taxpayers' time.

So are the Gilliams doing this themselves? On their own time? From home? On privately owned computers?

Or is this yet another case of different rules for those at the top?

And what will the actual cost to UNCG be?"

Some said these things were necessary because of Chancellor Gilliam's disability. Well thanks to Sophie Scholl it has to our attention that Chancellor Gilliam has no disability whatsoever. Anyone who can drive a Shelby Cobra from Greensboro to the The Biltmore Forest Country Club in Asheville is in no way disabled to the point that he or she needs first class flights , chauffeur driven cars or any of the other so called "needs" the Gilliams seem to enjoy:

"Don't get me wrong, that's a sweet car, I'm not denying that, but I wonder if Gilliam has taken it by the staff food pantry recently"

That's right, UNCG has a staff food pantry where UNCG employees-- some of them teachers-- who work minimum wage jobs, can go to get food donated by other UNCG employees while the Chancellor lives like royalty.


And you wonder why college tuitions are so high.

City Of Greensboro Ashley Madison Smoke And Mirrors

WFMY News 2 is reporting that 3 City of Greensboro e-mail accounts were found among the millions of Ashley Madison accounts-- a service designed to help people cheat on their spouses.

"They were from the water department, the fire department and the IT department. But we're not going to release the employee's names because, it's possible someone other than the public employee could have entered in the e-mail address. So to try and get a clearer picture of what happened, 2 Wants To Know asked for copies of e-mails from those accounts. But the city won't turn them over.

That's right. You the taxpayer cover the costs for the computers and software to run these e-mail accounts. And you pay for the city employees using the accounts. So you'd think you'd be able to see the e-mails. Not so says a city of Greensboro spokesperson. He cites a North Carolina law that government e-mails are not releasable if they are "the property of a private 'person.'"

Well, if they are in fact city workers and not elected leaders I really don't care. There's no real way to prove they were using the Ashley Madison website on taxpayers' time without going to far greater expense than it ever cost the taxpayers in the first place and if for instance I wanted to sign up for an Ashley Madison account using the name Nancy Barakat Vaughan and her e-mail address there's nothing that would stop me from doing so.

This is a smoke and mirrors issue designed to keep you from focusing on what is really important. And smoke and mirrors is what our local main stream media does best.

Ron Paul; "Blame the Federal Reserve, Not China, for Stock Market Crash"

"Following Monday’s historic stock market downturn, many politicians and so-called economic experts rushed to the microphones to explain why the market crashed and to propose "solutions” to our economic woes...

...the fault lies not with China’s central bank but with the US Federal Reserve.

The Federal Reserve’s inflationary policies distort the economy, creating bubbles, which in turn create a booming stock market and the illusion of widespread prosperity. Inevitably, the bubble bursts, the market crashes, and the economy sinks into a recession.

An increasing number of politicians have acknowledged the flaws in our monetary system. Unfortunately, some members of Congress think the solution is to force the Fed to follow a “rules-based” monetary policy. Forcing the Fed to “follow a rule” does not change the fact that giving a secretive central bank the power to set interest rates is a recipe for economic chaos. Interest rates are the price of money, and, like all prices, they should be set by the market, not by a central bank and certainly not by Congress.

...When bubbles burst and recessions hit, Congress and the Federal Reserve should refrain from trying to “stimulate” the economy via increased spending, corporate bailouts, and inflation. The only way the economy will ever fully recover is if Congress and the Fed allow the recession to run its course.

Of course, Congress and the Fed are unlikely to “just stand there” if the economy further deteriorates...

Congress will not adopt sensible economic policies until the people demand it.

...too many Americans still believe they must sacrifice their liberties in order to obtain economic and personal security. This is why many are embracing crony capitalists who peddle snake oil...

Eventually the United States will have to abandon the warfare state, the welfare state and the fiat money system that fuels leviathan’s growth.

Hopefully the change will happen because the ideas of liberty have triumphed, not because a major economic crisis leaves the government with no other choice."

http://ronpaulinstitute.org/archives/featured-articles/2015/august/30/blame-the-federal-reserve-not-china-for-stock-market-crash/

Monday, August 31, 2015

Notice anything? Think you'll read about this in Warren Buffett's News and Record tomorrow?



Production and Prices plunged holding Milwaukee's ISM near 2-year lows...

"After ISM Milwaukee disappointed, missing for the 8th month of the last 9
hovering at 2 year lows with production and prices plunging,
Chicago PMI slightly disappointing.

...there is little to no momentum in any 'recovery'
stemming from a Q2 bounce.

Why would Warren Buffett not want his readers
to understand what's actually happening in our economy?

Weakness under the surface is broad
and as purchasers warned "failure of New Orders to materialize
"within the next few weeks"
could put firms at risk of being over-inventoried
and curtail producton levels."

Could it be,
that Warren Buffett would prefer to invest
when as many others as possible don't know what's happening,
or vice versa?

Perhaps most worrying though
is the 4th consecutive contraction in employment...

But then Chicago PMI hit...

And underlying factors were weak...

MNI CHICAGO REPORT: BAROMETER 54.4 AUG VS 54.7 JUL SEASADJ
MNI CHICAGO: SUPPLIER DELIVERIES RISE TO HIGHEST SINCE MARCH
MNI CHICAGO: EMPLOYMENT UP BUT IN CONTRACTION FOR 4TH MONTH
MNI CHICAGO: PRICES PAID FALL BACK BELOW 50
MNI CHICAGO: INVENTORIES COMPONENT HIGHEST SINCE NOV 2014
MNI CHICAGO: ORDER BACKLOGS CONTRACT AT FASTER RATE
MNI CHICAGO: PRODUCTION AND NEW ORDERS EASE SLIGHTLY

Some purchasers reported enough work
to keep their facilities "busy"
but said that there were a lot of small orders with large orders lacking.

Part of the resilience in Production and New Orders
was due to stock growth as companies built inventories
at the fastest pace since November 2014.

http://www.zerohedge.com/news/2015-08-31/chicago-pmi-bounce-stalls-firms-risk-being-over-inventoried
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Here's the News and Record's Business reporter's blog;

http://www.greensboro.com/blogs/on_the_job/

Here's the News and Record's latest business stories;

http://www.greensboro.com/business/local_business/

Here's the News and Record's Financial Markets stories;


http://www.greensboro.com/business/stock_market/

Sunday, August 30, 2015

Are Council Members Operating A Brothel?

The farther we dig into What Would You Do If You Were Married To A Pimp? the more surprised we become.

When we we decided to look into the front men of the Costa Rican brothel, Darryl McCarroll and Charles T Petrucci, we didn't know what we might find. Details on Darryl McCarroll came easy
but what we learned in our recent Public Information Request to the City of Greensboro concerning the closing of one of Mr McCarroll's Greensboro strip clubs blew us away!!!! 

Click on the hyperlink above to read the entire document or click on the excerpt below to read the excerpt:




Now what does this prove? Nothing. But it does raise some interesting questions. For example:

Randy Reavis, attorney for the defendant, Darryl McCarroll, was wanting $60,000 in legal fees to settle the case. Randy Reavis works for the law firm, Nexsen Pruitt.

Robbie Perkins made the motion to pay the money and settle the case.

Soon thereafter Robbie Perkins left his wife for attorney Christie Myatt of Nexsen-Pruet.

And City Council voted 9-0 to settle out of court. If Robbie is guilty of hiding something then he had lots of help during that closed council session 5 years ago.

Ever wonder how people who apparently have no means of support can lead lives of luxury on $12,000 to $14,000 a year? Yeah, I do too.

And why was City Council so ready and willing to settle out of court after 2 homicides in 3 years
and 115 calls to police in 2 years if "club owner" Darryl McCarroll didn't have something he was holding over the heads of some very highly placed people here in Greensboro?

Darryl McCarroll was no stranger to the Greensboro City Council even before his club, Lost Dimensions Sugar Bares and its problems became known to all. As I demonstrated in O. P. Costa Rica Here We Come,, Darryll had operated Darryl's Bail Bonding in Downtown Greensboro next door to the Carolina Theatre for over a decade. Darryl knew lots of police officers, city and county officals, court officials, judges, city council members and lawyers... including lawyers who served on the Greensboro City Council at one time or another.

To think that Darryl McCarroll didn't know his way around the highest levels of Greensboro government would be to highly under estimate Darryl McCarroll.

We're often told that City Council discusses law suits behind closed doors so that their legal strategy will not be exposed to the other side. Okay, so why didn't they send me the rest of the documents I asked for 5 years after the case has been settled out of court? What are they still hiding? It certainly can't be legal strategy, can it?

And if their strategy was only to settle out of court then why go into closed session?

I'd tell you more but no one is talking. The minutes released to me are everything the City has given me. The actual conversations that took place in that room on that night 5 years ago still remain secret. Even the News & Record wrote of then Greensboro Police Chief Tim Bellamy:

"Bellamy declined to elaborate on the facts he has to support the club’s closure, but said he welcomes the opportunity to make the presentation to the council and discuss making Farragut Street safer.

“We are going to make the best out of this situation,” Bellamy said. “If the people above me don’t want to pursue (the closure) that’s what we’ll do.”

Damn straight I took a screen grab considering the News & Record's history of making archives disappear.



Was GPD covering for them as well? Are Greensboro's elites running strip clubs and brothels at home and abroad with the knowledge of Police and City Council?

Who were they covering for then, who are they covering for now? And do any of them deserve to be reelected to public office while such questions still linger?

And finally, in the interest of getting to the bottom of this and being sure we get the truth without any unnecessary delay I sent the following e-mail on Friday night as I was preparing this article for autopost:

 "Katherine,

Thanks but I specifically asked for "all minutes, recordings, documents and videos of the Closed session."

I posted my PIRT online same day here via autopost so the public would see it the next day: http://greensboroperformingarts.blogspot.com/2015/08/what-are-they-hiding.html

It is currently Friday 8:46 PM and I have already posted Monday's autopost, Are Council Members Operating A Brothel? using the info you have provided me thus far.

Please, if you would, ask the appropriate parties to release "....recordings, documents and videos of the Closed session."

If I'm wrong then their doing so will be in City Council's best interest. If I'm right it won't matter, they're already screwed big time.

As I've included Mayor Vaughan in this e-mail I will consider any documents produced after 5:00 PM Monday to have been forged. After all, she's had weeks to see this coming.

If city staff cannot or will not produce the rest of the documents I have asked for by 5:00 PM Monday then the Citizens of Greensboro will be left to draw their own conclusions.

This PIRT request is also included in Monday's autopost.

Several friends and members of the media have been BCCed for my own protection. They also know what I found.

Again, thank you for everything you do.

-Billy"
Out of the frying pan and into the fire? Mayor Nancy Barakat Vaughan, you were on that city council that night, why don't you explain it to us?

Or I can explain it. Remember: you've got until 5:00 PM Monday, August 30, 2015.

In the meantime, I highly recommend you read this entire series beginning with Part 1, Greensboro Women, What Would You Do If You Were Married To A Pimp?  and follow the links back to here while we wait on a response from the Mayor and City Council. 




"Like a dog returns to its vomit, the Fed's speculative bubble policy enables the one percent to once again feast on the carcass of the real economy"

http://jessescrossroadscafe.blogspot.com/2015/08/leveraged-financial-speculation-in-us.html

...myriad global “carry trades” – speculative leveraging of securities
are the unappreciated prevailing source of finance 
behind interlinked global securities market Bubbles. 

They amount to this cycle’s government-directed finance 
unleashed to jump-start a global reflationary cycle.
 
...Trillions worth of speculative leverage 
have accumulated throughout global currency and securities markets 
at least partially based on the perception 
that policymakers condone this leverage as integral 
(as mortgage finance was previously) 
in the fight against mounting global deflationary forces.

Doug Noland

Like a dog returns to its vomit, the Fed's speculative bubble policy enables the one percent to once again feast on the carcass of the real economy.

Once is an accident.

Twice is no coincidence.

Remind yourself what has changed since then.  

Banks have gotten bigger.   

Schemes and fraud continue.

What will the third time be like?  

And the fourth?

...Should we ask them to please behave, levy some token fines, watch the politicans yell and posture in some toothless public hearings, let all of them keep their jobs and their bonuses?   And then bail them out, wind up the old Victrola,  and have another go at the same old thing again?

Maybe we can vote for one of their hired servants, or skip the middlemen and vote for one of the arrogant hustlers themselves, and hope they get tired of taking us for a ride before we all go broke.

This policy we have now is the trickle down stimulus that the wealthy financiers have been sucking on with every opportunity that they have made for themselves since the days of Andrew Jackson. 
\
Whenever the ability to create and distribute money has been handed over by a craven Congress to private corporations and banking cartels without sufficient oversight and regulation, excessive speculation, financial recklessness, and moral hazard have acted like a plague of misery and stagnation on the real economy.

I too have been a close observer 
of the doings of the Bank of the United States. 

I ...am convinced that you have used the funds of the Bank 
to speculate in the breadstuffs of the country. 

When you won, you divided the profits amongst you, 
and when you lost, you charged it to the Bank. 

You tell me that if I take the deposits from the Bank 
and annul its charter I shall ruin ten thousand families.

That may be true, gentlemen, but that is your sin! 

Should I let you go on, you will ruin fifty thousand families, 
and that would be my sin! 

You are a den of vipers and thieves. 

I have determined to rout you out...

President Jackson 
February 1834

...we still have an unashamed cadre of quack economists and their ideologically blind followers blaming the victims, prescribing harsh punishments for the weak, laying all the blame on 'government' and not corrupt officials on the payrolls of Big Money, and giving the gods of the market and their masters of the universe a big kiss on the head, and expecting them to just do the right thing the next time out of the natural goodness of their unrestrained natures the next time.  

What could go wrong with that?

Genuine reform.   It's too much work, and too much trouble."