"If you look at the last 40 years of the share of the economic pie that is being taken, certainly by the top 1%, and as you point out the top .01%, but also the labor share of the pie has gone to record low levels. There is this fundamental dichotomy in the economy now where if you are well off, you are doing better than you ever have before in history. But the majority of Americans—the majority of workers in this country haven’t gotten a raise in real terms since the early 1990s and many people in the working class and minorities haven’t gotten one since the late 1960s. That is a real problem in an economy that is 70% consumer spending because at some point the math starts to not work. If people don’t have more money, they can’t spend and we get these underlying growth problems." Rana Foroohar
Reliable intelligence sources in the West have indicated that warnings had been received that the Russian Government could in the near future release the text of email messages intercepted from U.S. Presidential candidate Hillary Clinton’s private e-mail server from the time she was U.S. Secretary of State. The release would, the messaging indicated, prove that Secretary Clinton had, in fact, laid open U.S. secrets to foreign interception by putting highly-classified Government reports onto a private server in violation of U.S. law, and that, as suspected, the server had been targeted and hacked by foreign intelligence services.
The reports indicated that the decision as to whether to reveal the intercepts would be made by Russian Federation President Vladimir Putin, and it was possible that the release would, if made, be through a third party, such as Wikileaks. The apparent message from Moscow, through the intelligence community, seemed to indicate frustration with the pace of the official U.S. Department of Justice investigation into the so-called server scandal, which seemed to offer prima facie evidence that U.S. law had been violated by Mrs Clinton’s decision to use a private server through which to conduct official and often highly-secret communications during her time as Secretary of State. U.S. sources indicated that the extensive Deptartment of Justice probe was more focused on the possibility that the private server was used to protect messaging in which Secretary Clinton allegedly discussed quid pro quo transactions with private donors to the Clinton Foundation in exchange for influence on U.S. policy
--Libya's national investment fund is attempting to claw back $1.2 billion from nine trades it carried out with Goldman Sachs in 2008, which supposedly came about after the bank used prostitutes, private jets, and five star hotels to secure contracts.
Libya's national investment fund is attempting to claw back $1.2 billion from nine trades it carried out with Goldman Sachs in 2008, which supposedly came about after the bank used prostitutes, private jets, and five star hotels to secure contracts.
The same year Goldman Sachs raised more money for Barack Obama than any other company, the Libyan Investment Authority (LIA) says CEO Lloyd Blankfein’s team used ‘undue influence', taking advantage of LIA’s financial naivety by first gaining its trust, and then encouraging it to participate in risky complex trades which the fund did not understand.
“The disputed trades were inherently unsuitable for a nascent sovereign wealth fund such as the LIA and Goldman Sachs knew (or at the very least suspected) the LIA did not properly understand the trades, which were highly structured, complex and risky,” Libya’s Investment Authority said in a document submitted to the court.
The court heard how LIA staff received the five-star treatment and were showered with lavish gifts, hotel stays, and expensive meals during trips to Dubai, London, and Morocco.
Primarily organized by former Goldman Sachs banker Youssef Kabbaj, short trips racked up more than $31,000 in expenses.
LIA also claim during one trip, Haitem Zarti, the younger brother of the fund’s deputy executive officer, was offered an internship at the bank and Kabbaj later paid for a “pair of prostitutes to entertain them both one evening” at a cost of $600, according to Reuters.