‘Since 2008 no-one of importance has been convicted.’ ibid. whistleblower
‘In order for them to meet their quotas, they started bringing in junk.’ ibid. mortgage sales woman
Richard D Fuld junior: ‘He was considered one of the most brilliant men on Wall Street’ … Total Compensation: $71.90 million; 5-year compensation Total: $254.03 million.’ ibid. April 2008
This is Wall Street. And today was important. Because tomorrow, July 4th, I intended to make my first million dollars … I was the lawyer for the numbers racket. Force of Evil 1948 starring John Garfield & Thomas Gomez & Marie Windsor & Howland Chamberlain & Roy Roberts & Paul Fix & Stanley Prager & Barry Kelley & Beau Bridges et al, director Abraham Polonsky, opening remarks
New York City: By the end of the 1970s it was a city on its knees in a country that was losing its mind. The American dream had become a nightmare. And no place felt as rotten or as hopeless as New York. But suddenly, at the dawn of a new decade, there was something else in here: opportunity. It was everywhere in the ’80s and five New Yorkers pounced … By the end of the decade they had reshaped the city in their own image. But at what cost? Empires of New York s1e1: Chaos Spells Opportunity, DiscoveryPlus 2020
Ivan Boesky: A man who came from nothing and reinvented himself on Wall Street. He was a master of secrets … ‘He made a hell of a lot of money and they thought he was a magician.’ ibid.
In 1986 we started to learn the very dark secrets behind their success: a striver from Detroit had transformed himself into a titan of Wall Street, but his house of lies was about to collapse; a real-estate star had seemingly perfected the art of the deal but couldn’t hide out on his debts for long; the queen of the palace had turned meanness into a winning brand but her subjects were about to revolt; and as Gotham’s new hero went after his biggest villains yet, the dapper don looked danger in the face and laughed. Empires of New York s1e4: Secrets & Lies
138,287. As the ’80s wore on, a rot was setting in across New York: and perhaps no place was as compromised as Wall Street. A stunning arrest had left traders with dark secrets of their own scrabbling to keep up appearances. But one financial wizard knew the game was almost up: Ivan Boesky. ibid.
In 1987 the boom times came to a halt and with the party over, the backlash began. A Wall-Street cheat found his reputation in ruins; he decided he wouldn’t go down alone … For months a drumbeat of revelations had cast a shadow over Wall Street. Empires of New York s1e5: Party’s Over
The stock market is an enigma, deceptively complex but also simple. It’s a parallel universe. A nearer version of the real world where you can invest in the future. Gaming Wall Street I, BBC 2022
And when bad players break the rules of the game, when they cheat the market at a push of the button, it hurts people in the real world. ibid.
There’s been an uprising by a bunch of people from the internet who said, Let’s take these motherfuckers down. ibid.
Gamestop: A bunch of guys on the internet going against a hedge fund. ibid.
One study put the dollar amount of the bailout at $29 trillion. And it really wreaked millions of lives. ibid.
Payment for order flow … invisible (but legal) fees brokers can make by directing orders to parties that actually make the trade. CA Gaming Wall Street II
J P Morgan: they pleaded guilty to a criminal charge of manipulating the precious metals market for eight years. ibid.
Robinhood has denied allegations in the class action lawsuit against them, including alleged collusion with Citadel. We have published their response on the show’s website. ibid. caption
Wall Street has hijacked Washington. Gerald Celente
Ten years after the global economy crisis or 2008 the world is still reeling. But no-one has yet been held responsible. This is a story of the perfect crime. Money, Power, Impunity: The Bankers Who Stole the World, Youtube 54.53, 2022
Justice Department: Time and time again the people they are going after are these little minnows. ibid.
Zero Wall Street executives have been to prison. ibid.
Citigroup was not the only one. A comparable level of fraudulent mortgage loans had been seen in all the Wall Street banks. ibid.
Total amount of the [Lehman] bankruptcy: $693 billion. ibid.
Wall Street bonuses had increased from $10 billion in 2002 to $30 billion in 2007. ibid.
The 2008 financial crisis was far beyond the confines of Wall Street. Panic: The Untold Story of the 2008 Financial Crisis/Uncovering the Financial Crisis: How the 2008 Panic Unfolded, Andrew Ross Sorkin, Vice/HBO 2023
What happened at Bear Stearns was the first demonstration of what the crisis looked like. ibid. Sorkin
There was an incentive to chop up these loans because along the way there was a profit, a fee for each institution that touched a piece of the loan. ibid. Sorkin
There was so little transparency and so little confidence in these securities that financial institutions were struggling. ibid. Hank Paulson
We were a few days away from the ATMs not working. ibid. dude
It’s embarrassing for the United States of America. ibid. Paulson
The intervention I think saved Depression. ibid. George W Bush
Each book examines the financing and the contributions made by Wall Street by international bankers to the development of that specific form of socialism. Antony C Sutton: interview 1980, ‘The Best Enemies Money Can Buy’, Youtube 39.59, 2012
The Soviets were supplying the North Vietnamese 1972 … The Gorky plant which was built by the Ford Motor Company … We were supplying equipment to the Gorky plant … I thought this was morally wrong. ibid.
The original financing of Hitler in the years 1922 came only partly from Germany. One of the most prominent Americans concerned with financing Hitler was Henry Ford. ibid.
Amongst the corporations that transferred money to Hitler I find not only I G Farben, which is quite widely known, but also German General Electric, AEG, which is under control of General Electric in the United States … Osram … Standard Oil … ITT … American corporations financed Hitler through their subsidiaries. ibid.
In practice the German General Electric plants were not bombed. ibid.
The Ford plant in Cologne should have been a prime military target. ibid.
Every single Russian industry was rebuilt or restarted by foreign corporations. ibid.
Averell Harriman came out of the Soviet Union financially with a profit. ibid.
He was the god of finance ... This god was a demon, a devil. Madoff: The Monster of Wall Street I: A Liar, Not a Failure, woman, Netflix 2023
Bernie Madoff ran the biggest criminal enterprise in the history of Wall Steet. He was a financial sociopath. ibid.
He had earned a reputation of being almost all-knowing. ibid.
They were fictitious trades. It was a Ponzi. ibid. dude
If you invest with any large brokerage firm nobody gets a statement on dot-matrix paper. Madoff: The Monster of Wall Street II: Don’t Ask, Don’t Tell
It was a paper mill. ibid.
A reduced level of scrutiny at the security level. Madoff: The Monster of Wall Street III: See No Evil, woman
Deposition: At what point in time did you become insolvent?
Madoff: I would say probably in the early 2000s … somewhere between ’98 and 2002. ibid.
There were a number of complaints of different people that were brought to the SCC. ibid.
He is down to his last $13 million in his account, JP Morgan bank account. ibid.
There are too many red flags to ignore. ibid. SCC
2021: Bernie Madoff, the architect of the largest Ponzi scheme in American history, died today in prison. Madoff: The Monster of Wall Street IV: The Price of Trust
We are faced with the prospect of a global meltdown. ibid. George W Bush
Bernie Madoff is facing about $1.5 billion of withdrawal requests. ibid. woman
Is the SCC too cosy with the industry? ibid. Finance dude
The feeder funds abrogated their responsibilities. ibid.
He sentenced him to 150 years. This was a purely symbolic sentence. ibid.