Changing the old system.
Corporate America FlagFor those who follow American politics know all too well, big money has long been a dominant factor influencing the electoral process.
But since the January 2010 Supreme Court’s decision in “Citizens United v/s F.E.C.” granting corporations full 1 st Amendment rights of free speech and the right to contribute unlimited funds to influence election outcomes, that decision has opened the door for corporate interests to donate millions in secret to influence election outcomes.
Word out today that Deutsche Bank is under investigation for LIBOR rate rigging has sent it’s shares down substantially.
Of course we know that they were ALL IN ON IT so that means many more “announcements” are coming. Here are the 18 banks that form the committee to set LIBOR:
It is important to note that of these 18 banks that colluded to set phoney LIBOR rates, 9 of these banks are “Authorized Participants” colluding to rig the gold and silver markets in the phoney Gold and Silver ETF’s (GLD & SLV).
Mario Draghi, aware of the potential for embarrassment, warned last week that the latest major project in the euro zone could not be allowed to pose any “threat to the reputation” of his European Central Bank (ECB).
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Germany’s Constitutional Court was set up after the war as part of an elaborate system of checks and balances. But recently it has been hampering the Germany government’s efforts to solve the euro crisis, much to the annoyance of some politicians in Berlin. Critics accuse the court of wanting to safeguard its own power.
At the last European Union summit, leaders agreed to establish a banking oversight authority. It remains unclear, however, what such a system might look like. The European Central Bank is to play a role, but can it maintain its independence?