SchwartzReport: Banking Fraud Plague

Stephan A. Schwartz

Stephan A. Schwartz

This is an extract from Beatrice Edwards’ new book, The Rise of the American Corporate Security State. It is another tale of the corruption that has become the leitmotif of America in the 21st century.

In Banking World, Fraud Is an Epidemic
BEATRICE EDWARDS – Berrett-Koehler Publishers/Truthout

Reason to be afraid #6:

Systemic corruption and a fundamental conflict of interest are driving us toward the precipice of new economic crises.

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See Also (The Book):

The Rise of the American Corporate Security State: Six Reasons to Be Afraid (2014)

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Yoda: Promise Language – Language of Commerce Rooted in Trust and Reputation

Got Crowd? BE the Force!

Got Crowd? BE the Force!

Promise Language – The Language of Commerce

Open source, free marketplace software.

How does one gain trust without an authority?

Commerce between anonymous people is possible with a P2P database and open source.

A public record of one’s previous transactions is reputation.

This is exchange software, payment processing software, and procurement software.  It provides reputation, but does much more than that.  Anything of value can be traded freely.  Value-added services can be provided by new and existing companies.  It works with today’s companies and allows new ones to thrive.

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Mini-Me: T-Mobile Criminal Business As Usual — 100s of Millions of Dollars in Bogus Texting Charges

Who?  Mini-Me?

Who? Mini-Me?


T-Mobile took ’100s of millions of dollars’ from bogus txt charges – Feds

Network CEO slams FTC, FCC allegations as baseless

>By Shaun Nichols

The Register,

T-Mobile US was accused today of slapping bogus text-message charges worth hundreds of millions of dollars on customers’ bills.

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SchwartzReport: Joseph Stiglitz – Inequality Not Inevitable

Stephan A. Schwartz

Stephan A. Schwartz

The Great Divide

Inequality Is Not Inevitable


AN insidious trend has developed over this past third of a century. A country that experienced shared growth after World War II began to tear apart, so much so that when the Great Recession hit in late 2007, one could no longer ignore the fissures that had come to define the American economic landscape. How did this “shining city on a hill” become the advanced country with the greatest level of inequality?

One stream of the extraordinary discussion set in motion by Thomas Piketty’s timely, important book, “Capital in the Twenty-First Century,” has settled on the idea that violent extremes of wealth and income are inherent to capitalism. In this scheme, we should view the decades after World War II — a period of rapidly falling inequality — as an aberration.

This is actually a superficial reading of Mr. Piketty’s work, which provides an institutional context for understanding the deepening of inequality over time. Unfortunately, that part of his analysis received somewhat less attention than the more fatalistic-seeming aspects.

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