Daily Archives: February 14, 2016

CBS moderator asked Ben Carson at the Presidential debate if he believes that more financial executives should be held legally “responsible for crises”

International Business Times:

Later, neurosurgeon Ben Carson received a question more likely to come up in a Democratic presidential debate. CBS refererred to Morgan Stanley’s $3.2 billion settlement with state and federal regulators over the sale of mortgage-backed bonds in the lead up to the financial meltdown, and asked Carson if he believes that more financial executives should be held legally “responsible for crises” and if fines are an effective deterrent against bad behavior.

Though white-collar prosecutions have hit a 20-year low, Carson fired back that the real problem is that regulators are too aggressive.

“We have all these government regulators. All they’re doing is running around looking for people to fine, and we’ve got 645 different federal agencies and sub-agencies — way, way too many, and they don’t have anything else to do,” he said. “I think what we really need to do is start trimming the regulatory agencies, rather than going after the people who are trying to increase the economic viability of our society.”

Carson continued: “Now that doesn’t mean that there aren’t some people out there who are doing bad things. But I’m not sure that the way to solve that problem is by increasing all the regulatory burden. When you consider how much regulations cost us each year, $2 trillion. Per family, $24,000 per family. That happens to be the same level as the poverty level for a family of four. You want to get rid of poverty, get rid of all the regulations.”

Nevada foreclosure crisis hits Sanders, Clinton’s attempts to reach voters

Democratic presidential hopefuls Bernie Sanders and Hillary Clinton are flooding Nevada with volunteers ahead of this week’s key nominating contest but they face a problem — the addresses, phone numbers and other personal data they need to reach many voters are out of date.

Nevada, which is more than a quarter Latino, was one of the states worst affected by the 2008 financial meltdown, with hundreds of thousands of families unable to pay their mortgages and forced to move in a crisis that by some estimates hit minorities twice as hard as whites.

With the foreclosed homes often switching hands multiple times — from homeowner to bank to investor and back to another homeowner in just a few years — keeping up with voters who at some point lived in those homes is difficult.

Read on.

Goldman Sachs banker embroiled in massive overseas money scandal

Goldman Sachs’ cozy relationship with the Malaysian government is coming back to haunt the firm and one of its regional chairmen.

The fallout from the widening scandal hitting the white-shoe investment bank involves Tim Leissner, the Singapore-based chairman of Goldman’s Southeast Asia operations, who has left that country and relocated to Los Angeles on a leave of absence from the firm.

A state fund — 1Malaysia Development Berhad (1MDB) — was set up with Leissner’s assistance, and Goldman was paid sky-high commissions for bond sales. Then $681 million tied to the fund mysteriously turned up in the bank account of Malaysian Prime Minister Najib Razak.

Read on.

Elizabeth Warren to Senate: It’s the Constitution, stupid.

U.S. Senator Elizabeth Warren

The sudden death of Justice Scalia creates an immediate vacancy on the most important court in the United States.

Senator McConnell is right that the American people should have a voice in the selection of the next Supreme Court justice. In fact, they did — when President Obama won the 2012 election by five million votes.

Article II Section 2 of the Constitution says the President of the United States nominates justices to the Supreme Court, with the advice and consent of theSenate. I can’t find a clause that says “…except when there’s a year left in the term of a Democratic President.”

Senate Republicans took an oath just like Senate Democrats did. Abandoning the duties they swore to uphold would threaten both the Constitution and our democracy itself. It would also prove that all the Republican talk about loving the Constitution is just that — empty talk.

 
 
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Ted Cruz proposed flat tax form on a….postcard

Real scary. Senator Ted Cruz proposed a flat tax if he becomes President. Cruz stated this on Saturday’s Presidential Debate. And here is Cruz’s flat tax postcard that the American people fill out for their taxes should he become President. Like I said: Scary.

The Cruz Simple Flat Tax Postcard

 

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Source: Ted Cruz for President website

Supreme Court Justice Antonin Scalia Found Dead At West Texas Ranch

RIP! I occassionally disagreed with many of Scalia’s court rulings but my condolences to his family. Conservatives and lawmakers have come out and request Obama not to nominate a replacement of Scalia and the appointment should be made by the next president.
The man hasn’t been buried yet and the lawmakers are thinking politically.

Zerohedge:

According to the initial report, Scalia arrived at the ranch on Friday and attended a private party with about 40 people. When he did not appear for breakfast, a person associated with the ranch went to his room and found a body. Chief U.S. District Judge Orlando Garcia, of the Western Judicial District of Texas, was notified about the death from the U.S. Marshals Service.

U.S. District Judge Fred Biery said he was among those notified about Scalia’s death.

“I was told it was this morning,” Biery said of Scalia’s death. “It happened on a ranch out near Marfa. As far as the details, I think it’s pretty vague right now as to how,” he said. “My reaction is it’s very unfortunate. It’s unfortunate with any death, and politically in the presidential cycle we’re in, my educated guess is nothing will happen before the next president is elected.”

A federal official who asked not to be named said there was no evidence of foul play and it appeared that Scalia died of natural causes.

 

According to CNN, Scalia died in his sleep. A government official said Scalia went to bed Friday night and told friends he wasn’t feeling well. Saturday morning, he didn’t get up for breakfast. And the group he was with for a hunting trip left without him. Someone at the ranch went in to check on him and found him unresponsive.

The U.S. Marshal Service, the Presidio County sheriff and the FBI were involved in the investigation. Officials with the law enforcement agencies declined to comment.

A gray Cadillac hearse pulled into the ranch last Saturday afternoon. The hearse came from Alpine Memorial Funeral Home.

Texas governor Abbott confirmed the news: