Imagine – John Lennon

WE ALL MATTER #ferguson

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Groupie Love

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Citigroup has given $503,150 to current members of the House of Representatives.
Representative Jim Himes, D-Conn., has received $66,450 from Citigroup, more than any other member of the House of Representatives. Himes is a co-sponsor of the bill.
Co-sponsors of the bill have received, on average, 16.8 times more money from Citigroup than have members of the House who have not signed on as co-sponsors.
Speaker John Boehner, R-Ohio, has received $917,500 from interests supporting the bill, more than any other member of the House of Representatives.
Representative Randy Hultgren, R-Ill., the primary sponsor of the bill, has received $136,500 from the Securities and Investment industry, more than from any other industry.

Read the rest of the Forbes article here.

Hedge Hog

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By allowing the firm to plead guilty—rather than the man who created it, owns it outright, and runs it with an iron fist—today’s agreement also perpetuates the myth, visible in other recent Wall Street cases, that abstract corporate entities rather than flesh-and-blood humans are responsible for financial wrongdoing. Which, of course, defies the laws of physics. SAC Capital Advisors exists only on paper. It was the people who ran the firm that defined its culture and designed its peculiar internal structure, in which portfolio managers and analysts were encouraged to share their best investment ideas with Cohen directly. While Cohen wasn’t named as a defendant in any of the SAC insider-trading cases, court papers have alleged that, as the firm’s owner and chief executive, he “enabled and promoted” the wrongdoings.

If this is so, why isn’t he in the dock facing criminal charges?

Read the rest of the New Yorker Article here.