Are Unions to Blame for US Cities’ Financial Crisis?
Lansing, Mich. Mayor Virg Bernero on union’s role in the financial crisis facing cities across the country.
Lansing, Mich. Mayor Virg Bernero on union’s role in the financial crisis facing cities across the country.
Penn Financial Group President Matt McCall argues municipal bonds are still a buy despite many states’ financial crises.
Manhattan Institute Senior Fellow Steven Malanga on why the Census report could lead to less federal funding for those states that need it most.
2010 www.amazon.com Watch more clips: thefilmarchived.blogspot.com United States President Barack Obama and key advisers introduced a series of regulatory proposals in June 2009. The proposals address consumer protection, executive pay, bank financial cushions or capital requirements, expanded regulation of the shadow banking system and derivatives, and enhanced authority for the Federal Reserve to safely wind-down systemically important institutions, among others. In January 2010, Obama proposed additional regulations limiting the ability of banks to engage in proprietary trading. The proposals were dubbed “The Volcker Rule”, in recognition of Paul Volcker, who has publicly argued for the proposed changes. The US Senate passed a regulatory reform bill in May 2010, following the House which passed a bill in December 2009. These bills must now be reconciled. The New York Times provided a comparative summary of the features of the two bills, which address to varying extent the principles enumerated by the Obama administration. For instance, the Volcker Rule against proprietary trading is not part of the legislation, though in the Senate bill regulators have the discretion but not the obligation to prohibit these trades. A variety of other regulatory changes have been proposed by economists, politicians, journalists, and business leaders to minimize the impact of the current crisis and prevent recurrence. None of the proposed solutions have yet been implemented. These …
www.house.gov Congressman Ron Paul questions Donald L. Kohn, Vice Chair of the Federal Reserve Board of Governors, at the House Financial Services Committee hearing on January 13, 2009. Ben Bernanke decided the meeting wasn’t important enough and was a no-show.
The global financial crisis is now officially turning into a currency crisis as predicted by Ron Paul and others years ago. With the new trillion EU rescue package, central banks around the world are printing money out of thin air to prop up a failing system. The idea that American citizens are paying to bail out Europe is astounding. The Federal Reserve and other central banks are intentionally devaluing currencies worldwide to bring in a new international reserve currency regulated by them. In other words, the people who caused the crisis are coming in and offering the solution giving them total control over the world’s monetary system. This fraudulent, corporate looting is transferring wealth from ordinary citizens to the ultra-rich, consolidating global power. This is unprecedented in world history. Please support Ron Paul’s bill to audit the fed and research these topics for yourself. Thank you for watching and subscribe to aenfroy87 if you enjoyed the video.
more on Bob Chapman at bobchapman.blogspot.com
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Presented by Kevin Duffy at “Austrian Economics and the Financial Markets,” the Mises Circle in Manhattan on 22 May 2010 in New York, New York. Includes an introduction by Mises Institute president Douglas E. French.
The markets will collapse in the next month, but there is hope. The bottom is almost here. What should you do in the next six months? Are you ready?