Taxpayers are paying billions of dollars for a swindle pulled off by the world’s biggest banks, using a form of derivative called interest-rate swaps; and the Federal Deposit Insurance Corporation has now joined a chorus of litigants suing over it. According to an SEIU report:
Derivatives . . . have turned into a windfall for banks and a nightmare for taxpayers. . . . While banks are still collecting fixed rates of 3 to 6 percent, they are now regularly paying public entities as little as a tenth of one percent on the outstanding bonds, with rates expected to remain low in the future. Over the life of the deals, banks are now projected to collect billions more than they pay state and local governments – an outcome which amounts to a second bailout for banks, this one paid directly out of state and local budgets.
It is not just that local governments, universities and pension funds made a bad bet on these swaps. The game itself was rigged, as explained below. The FDIC is now suing in civil court for damages and punitive damages, a lead that other injured local governments and agencies would be well-advised to follow. But they need to hurry, because time on the statute of limitations is running out….
Abstract: The structure of the control network of transnational corporations affects global market competition and financial stability. So far, only small national samples were studied and there was no appropriate methodology to assess control globally. We present the first investigation of the architecture of the international ownership network, along with the computation of the control held by each global player. We find that transnational corporations form a giant bow-tie structure and that a large portion of control flows to a small tightly-knit core of financial institutions. This core can be seen as an economic “super-entity” that raises new important issues both for researchers and policy makers. …
Shamelessly copied from Patricia’s new site theshamecampaign.com
Iraq poised to legalize marriage for girls as young as 9
Decades ago, in the years after Iraq gained independence, a tradition of child marriage persisted in its hills and plains. Upon their fathers’ orders, Iraqi girls were betrothed to strangers and rivals alike to resolve tribal disputes or incur favor.
But in the mid-1970s, such acts — called “fasliyah” — were prohibited as the nation moved toward secularization and modernity.
“This decree [banning fasliyah] constituted the first step toward a civilized Iraqi community,” reports the Middle East publication Al-Monitor, “which would put an end to the failures of the tribal… society.”
In the years that followed, rates of child marriage plummeted. By 1997, only 15 percent of Iraqi women were married as children, according to the Central Organization for Statistics. This figure was the same in 2004.
But as the country plunged into the darkest days of the Iraq War, traditions emerged anew — including child marriage.
In 2007, Al-Monitor says, 21 percent of young Iraqi women reported they were married as children. Six years later, the Population Reference Bureau determined that “the decline in early marriages has stopped.”
In fact, the rate had risen.
Now the Iraqi government is poised to legalize child marriage for the nation’s majority Shiite Muslim population. But the law, which some expect to pass before this month’s parliamentary elections, would do significantly more than that.
Called the Jaafari Personal Status Law, it would prohibit Muslim men from marrying non-Muslims, prevent women from leaving the house without their husband’s consent, automatically grant custody of children older than two to their father in divorce cases and legalize marital rape.
The law, which proponents say will save women’s “rights and dignity,” would also permit boys to marry as young as 15 and girls to marry as young as nine. Girls younger than nine would be permitted to marry with a parent’s approval….
Via a systematic campaign of false flag attacks on iraqi civilians, blamed on one islamic faction or another, the US and UK very deliberately imposed sectarian division and tribalism on the once modern and secular iraqi society (albeit ruled by a CIA asset who was double crossed by his handlers, see Saddam Started Out as CIA Assassin and APRIL GLASPIE TRANSCRIPT ) in a continuation of the empire’s decades-long strategy of using fundamentalist islam as a tool of social control both here (9/11) and in the mideast. Imposing mass rape on iraqi girls is going to set the stage of a self-perpetuating cycle of “self” traumatization of iraqi families and society that will help keep it subdued and cooperative with western corporate interests for the forseeable future. State-sanctioned child abuse is an important form of social control which is of course also heavily used in the USA (circumcision, obstetrical abuse, miseducation, imposed neglect and impoverishment, state sanctioned drug running etc http://thoughtcrimeradio.net/2017/05/the-cia-and-the-crack-cocaine-epidemic/ ). The self-perpetuating nature of child abuse is a key aspect of the power of this tactic. Iraqi society has internalized the identity imposed on it by its oppressors, a form of trauma-based mind control on a national level which was imposed on the USA decades ago under the Great Ripoff ( http://thoughtcrimeradio.net/2015/02/milton-friedman-on-the-origins-of-the-great-ripoff/ )and the mirage of democratic empire.
And lest you think the Iraq war had something to do with controlling oil prices, well, you’re right, but not in the way you think: http://thoughtcrimeradio.net/2013/04/the-real-purpose-of-the-iraq-war-raise-the-price-of-oil/
More on western tactics to lobotomize and dissociate iraqi history, culture and intelligentsia:
State-Sponsored Terror: British and American Black Ops in Iraq https://www.globalresearch.ca/state-sponsored-terror-british-and-american-black-ops-in-iraq/9447
Iraqi academics assassinated during the US-led occupation
Details of U.S. False Flag Attacks in Iraq Revealed and More
False-flag operations in Iraq
When you get to be my age you start to see that the internal dynamics of the military are just an extension of the abuse that starts in the obstetrical wards. A self-perpetuating intergenerational cycle of re-traumatization. I call it “satan’s brain”. It reiterates its imprint on the neurodevelopmental matrix of children and branches out into the atrocities committed by the adults they become. It is a plague, an infection which is adaptive and resilient to piecemeal remedies. Its cure will require a multigenerational and wholistic approach.