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Thom's blog
The LIBOR rate fixing scandal could grow
After heads rolled last week at Barclays Bank following admission that the bank rigged key interest rates that underlie millions of consumer loans from home mortgages to credit cards, there are new allegations that other banks may be involved, and that this massive rip-off has been going on for decades. As one financial insider admitted to The Economist, “fifteen years ago, the word was that LIBOR was being rigged.” The insider went on to say that he remembers rate fixing as far back as the 1980’s. And Business Insider is reporting that the Federal Reserve was worried about LIBOR manipulation as far back as 14 years ago.
Now, other banks are being investigated for their role in rate-rigging – including JP Morgan Chase, Bank of America, and UBS. However, it’s unlikely anyone will actually go to jail for this multi-billion dollar fraud since we have a two-tiered justice system – one for working people who can be thrown in prison for stealing a Slurpee - and one for the banksters who get to skate with a small fine when they steal billions of dollars.
Curiously, even Wall Street knows criminal activity pays off for banksters. A recent survey of 500 Wall Street senior executives revealed that 24% of bankers believe they need to “engage in unethical or illegal conduct to be successful.” I don’t call them banksters for nothing.
-Thom
(Do you think they will be brought to justice? Tell us here.) |
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Tonight on The Big Picture on RT TV at 9pm and 11pm... Voter suppression...a legacy of slavery? (check your local listings for stations or stream at RT, and catch past shows on Youtube)
Need to Know: Voter suppression...a legacy of slavery?
Need to Know: The religious right field tests plan for beating Obama- Adele Stan, Alternet 
The Best of the Rest of the News...
Can Ron Paul take over the GOP Convention?- Austin Petersen, Director of Production-FreedomWorks / Ron Paul supporter 
Daily Take: Would cutting the work week put everyone back to work?
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Tuesday on The Thom Hartmann Program, 3-6pm
Hour One: Voter suppression...a legacy of slavery?
GOP to vote –again tomorrow– to repeal the Affordable Care Act- Chairman/Congressman Steve Israel (D-NY, 2nd District), Democratic Congressional Campaign Committee
Hour Two: Should firefighters be making minimum wage...$7.25 per hour?- Peter Ferrara, Carleson Center for Public Policy
Hour Three: Would cutting the work week put everyone back to work?
And, the best of the rest of the news and your calls right here on...
The Thom Hartmann Program...your media support group for "we the people"...TAG, YOU'RE IT!!!!!!!!! (OCCUPY SOMETHING!!!!!)
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Monday's Daily Stack 
Quote: "America was established not to create wealth but to realize a vision, to realize an ideal – to discover and maintain liberty among men." -- Woodrow Wilson.
Hour One: Does Rick Scott's TB cover-up prove we need a national healthcare system?- Peter Suderman, Reason Magazine
The Big Picture- Sam Sacks, The Big Picture producer, progressive commentator
Hour Two: Will Obama get tax cuts for the middle class?- Daniel Halper, Weekly Standard
Hour Three: Cities fight back against the big banks
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Wednesday on The Thom Hartmann Program, 3-6pm
Hour Two: Could a global billionaire tax end poverty as we know it?- Tanya Marchiol, Conservative Commentator / President-Team Investments Inc.
And, the best of the rest of the news and your calls right here on...
The Thom Hartmann Program...your media support group for "we the people"...TAG, YOU'RE IT!!!!!!!!! (OCCUPY SOMETHING!!!!!)
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Show Info
Call Thom on the show at 1-866-987-THOM (8466) (0870 974 9686 from the UK, +1 503 796 2324 from outside the US or UK).
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Thom's Poll
Is the LIBOR rate fixing scandal just the tip of the iceberg?
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Watch & Listen to Thom
How Cities are Fighting back against the Banksters
Is Union busting to blame for the power outages in DC?
What Role do Taxes Play in a Society?
Do Americans, without a photo ID, have a right to vote?
Or watch the Full "Big Picture" Show...
Full Show 7/9/12: The Bigger Picture
Thom debuts "The Bigger Picture," a new segment focusing on the heart of the big issues facing our nation. Tonight's "Bigger Picture" panel discusses taxes, labor unions and voter suppression. In tonight's "Daily Take" Thom looks at how cities and towns across the country are fighting back against the big banks.
Thom Hartmann on the News for July 9, 2012
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 Would you like to help give a child with a very troubled background this feeling of peace? Thom and Louise Hartmann founded the New England Salem Children's Village (NESCV) in New Hampshire in 1979. With states delaying payment for the children they entrust to the village, they need help with cash flow. Can you help? Now on Facebook. |
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