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Hometown: New Mexico
Home country: USA
Member since: 2002
Number of posts: 98,929

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HSBC's share price has fallen to its lowest level since 1995 amid allegations of money laundering.

On Monday in Hong Kong, the shares fell more than 5.3% to close at HK$29.30. In London they fell by a similar amount.

Leaked documents from the US Financial Crimes Enforcement Network (FinCEN), involving about $2tn of transactions have revealed how some of the world's biggest banks have allowed criminals to move dirty money around the world.

Shares in rival banks named in the papers have also been hit. At lunchtime, Standard Chartered and Barclays were down by 5% and 6% respectively, while Germany's Deutsche Bank was down 8%.


25 years of stock gains wiped out in a day is an incredibly big deal. HSBC and Deutsche Bank were two of the biggest players in a series of scams resulting in massive money laundering by rogue states, dictators, drug cartels, human trafficking, and other criminal enterprises worldwide. US banks are awash in drug money, that story broke before the 2008 crash.

The only place the scandal was reported last night was NBC, which reported on money laundering by N. Korea through US banks.

This is a huge and developing story.


https://www.buzzfeednews.com/fincen-files (They brpke the story first in the US)


The 'free market' manifesto that broke America and led to Trumpism

On Sept. 13, 1970, the New York Times published the "essay heard round the world." In his manifesto, economist Milton Friedman argued that corporations have one - and only one - obligation: maximizing profits for shareholders.

Five decades after the "Friedman Doctrine" emerged, the American middle class is in tatters. Long before the coronavirus, millions of Americans were poor, sick and angry; perfect prey for Donald Trump's resentful demagoguery and racial scapegoating.


Very readable article on how we got here and why wand whodunit, starting with that fraud Friedman. I'm just glad somebody besides me and a few people buried in left wing niche journals are writing about this. It was a long con and the biggest heist in history.

The price of inequality? Lost annual income of $42,000 for typical worker, study finds

Income inequality has given the rich a greater share of the economic spoils than middle- and low-income earners. That's resulted in a very real impact on the incomes of middle- and low-income households, with the typical full-time American worker now earning $42,000 less than they would have if inequality hadn't surged over the last four decades.

That's according to a new analysis from researchers at Rand, the global policy think tank. Its researchers wanted to look at the dollars-and-cents impact on U.S. households from yawning income inequality, which has lifted the fortunes of the rich to that of Gilded Age levels.

Prior to the mid-1970s, Americans' incomes, no matter their level, generally rose in step with overall economic growth. But that changed in the late 1970s, with the rich capturing the lion's share of economic growth, while middle-class and lower-income workers eked out gains far below par


I doubt this will be reported by network news and certainly not reportecd well.

What could you have done with that $807.69 a week?

Remembering David Graeber: Bullshit Jobs

Russia Just Declassified Footage of The Most Powerful Nuclear Bomb Blast in History


The video is longish and has subtitles and looks remarkably like what was being produced in the US in the Cold War to drum up public support for our bomb testing.

One thing the article failed to mention is that the power of this thing was dialed back from 100 megatons to 50 megatons, and at that they almost lost the planed that dropped the thing.

This is an interesting look at just how nuts the Cold War was, a fascinating piece of history.

As far as I know, the old Soviets didn't make many of these things. They were too big and heavy, delivery was problematic. Also, several smaller bombs in a cluster were even more devastating than one of these monsters. The largest device the US detonated was a quarter the size of the Tsar Bomba.

Patient in Nevada Marks The First US Case of Coronavirus Reinfection, Study Says

A young adult in Nevada was confirmed to have been infected with the coronavirus twice, marking the first confirmed case of reinfection in the US, and the fourth in the world.

But according to the new case study, the 25-year-old Nevada patient developed more severe symptoms the second time he was infected. His case was published as a preprint on the Social Science Research Network (SSRN) and hasn't yet been peer-reviewed.

"It is important to note, that this is a singular finding," study co-author Mark Pandori, the director of the Nevada State Public Health Laboratory said in a statement.

More plus links at https://www.sciencealert.com/lab-confirms-first-case-of-coronavirus-reinfection-in-the-us

Please note the bolded sentence, this is one case out of more than 3 million recovered patients in the US. It is far too soon to panic but it seems there is one actual case after months of fear mongering on Facebook.

Donny walked like he was drunk weeks before his visit to Walter Reed

This video is from November 10, 2018 and has been enhanced with labels and arrows for your delight and edification. Ataxia ($5.00 word for walking drunkenly) has been a longstanding problem, it's why ha needs a golf cart when other world leaders are taking a walk. His walking problems are not new. Neither is his state of denial.


Ataxoa can have many causes. In his case, it's not new at all. I'd feel sorry for him but he's done too much to piss me off.

Podcast: Steve Schmidt on "The Bunker" about Republicans past and present

which sounds dull as dishwater but which is both entertaining and informative. My only quibble is that these guys aren't owning their role in promoting what he calls "Gingrich culture" within the party, of winning at all costs, and working to destroy Democratic candidacies in order to promote Republicans who are, to put it mildly, turds.

It's worth a listen in the background while you do other things: https://play.acast.com/s/the-bunker/-aseasonofinsanity-republicansagainsttrump

Second part is "cancel culture," which I found unworthy, but YMMV.

Anonymous Tweets U.S. Hit By Major DDoS Attack on June 15

Following a massive cell phone service outage that affected hundreds of thousands T-Mobile, AT&T, Verizon, and Sprint customers on Monday, that hacktivist group Anonymous tweeted that it was a result of a ďmajor DDoS attack.Ē

DDoS, which is short for Distributed Denial of Service Attack, is an attempt to make an online service unavailable by overwhelming it with traffic from multiple sources. They target a wide variety of important resources, from banks to news websites, flooding it with too much information to operate, and forcing a major challenge to customers or people wanting to publish or access important information.

Anonymous tweeted out a digital map that appeared to show the various types of attacks happening between America and the rest of the world on Monday.


Things have been slow and glitchy for the last couple of hours here in NM. This explains a lot.

Confessions of a Former Bastard Cop

This essay has been kicking around in my head for years now and Iíve never felt confident enough to write it. Itís a time in my life Iím ashamed of. Itís a time that I hurt people and, through inaction, allowed others to be hurt. Itís a time that I acted as a violent agent of capitalism and white supremacy. Under the guise of public safety, I personally ruined peopleís lives but in so doing, made the public no saferÖ so did the family members and close friends of mine who also bore the badge alongside me.

But enough is enough.

The reforms arenít working. Incrementalism isnít happening. Unarmed Black, indigenous, and people of color are being killed by cops in the streets and the police are savagely attacking the people protesting these murders.

American policing is a thick blue tumor strangling the life from our communities and if you donít believe it when the poor and the marginalized say it, if you donít believe it when you see cops across the country shooting journalists with less-lethal bullets and caustic chemicals, maybe youíll believe it when you hear it straight from the pigís mouth.


Long and brutal examination of what the system is and why it is the way it is. Excellent read. Just be aware you might need a drink or three to get through it.

His recommendations are spot on.
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