❝ Controversial televangelist Jim Bakker has claimed that the Missouri town in which he is building a Christian community is equipped to survive the end of the world, and is selling survival gear, such as 6-packs of water bottles for $150.
❝ Bakker said on his program…that various prophets have predicted that if there is a major world disaster and humankind faces the end of the world, people in large cities are not going to be able to survive.
That is why for 15 years Bakker has been building his Morningside community in Blue Eye, Missouri, which will come with an amphitheater, houses for the residents, and a chapel that can be used for weddings.
❝ He also is advertising survival gear, such as a pack of six “extreme survival” water bottles being sold for $150. His website claims that the bottles are “designed using a combination of both Advanced and Radiological filters.”
Nothing much new in Bakker’s hustle. Whether you recall the history of his so-called ministry – or that of many peers. He ended up in the slammer for fraud, accused of rape. Mainly, he was guilty of being caught. Many of his breed simply keep stealing from true believers and never even get investigated. The Land of the Free includes the opportunity to be gobbled up by sharks cruising the Great American Ocean of Superstition.
❝ For a…prophetic vision of the future, you should read the complaint against Trump, his children and his foundation by New York State Attorney General Barbara Underwood…
Why prophetic? Because it’s likely a preface to the report or complaint that special counsel Robert Mueller will bring. The alleged crimes described by Underwood are not similar to those being investigated by Mueller. But the behavior is.
❝ U.S. history simply doesn’t offer a lot of reference points for a major-party political candidate who so casually subverts the law and sells out the nation’s highest values. How many Richard Nixons are there?
To believe the accusations that Trump colluded with Russia, laundered vast amounts of money and/or put American foreign policy on the auction block in return for the enrichment of his family requires an awkward leap of faith. You have to believe this leader is both profoundly corrupt — far more so than Nixon — and staggeringly sloppy — again more so than Nixon.
ON TWITTER: Donald J. Trump @realDonaldTrump 6:58 AM – May 28, 2018 “Happy Memorial Day! Those who died for our great country would be very happy and proud at how well our country is doing today. Best economy in decades, lowest unemployment numbers for Blacks and Hispanics EVER (& women in 18years), rebuilding our Military and so much more. Nice!”
Our fake president, the liar-in-chief, displays his phony self to a public which still includes a parcel of self-deluded sycophants.
❝ Wells Fargo & Co. confirmed industry and analyst speculation Friday that its two federal regulators want the bank to pay up to $1 billion in civil penalties to resolve multilayered customer-account issues…
The bank said those issues include “our compliance risk management program and our past practices involving certain automobile collateral protection insurance policies and certain mortgage interest rate lock extensions…”
❝ At $1 billion, it is likely to be among the largest fines in financial services history and already being considered at a historic level by analysts…
Never steal anything small. You’d probably get jail time.
❝ Martin Shkreli, once dubbed “the most hated man in America,” is now a convicted felon.
Shkreli, notorious for raising the price of a potentially life-saving drug by 5,000 percent, was found guilty Friday of defrauding investors in two hedge funds and in Retrophin Inc., a pharmaceutical company he co-founded.
❝ He is now almost certain to go to prison. Shkreli faces as long as 20 years behind bars, although he’s likely to serve much less. U.S. District Judge Kiyo Matsumoto allowed him to return home and wished Shkreli well after the verdict was read. She said she would see him soon, though she hasn’t set a date for sentencing…
Shkreli was convicted of three of eight charges, including securities fraud. He was acquitted of fraud charges related to allegations that he looted Retrophin to pay off his hedge-fund investors. Sentencing guidelines take into consideration the size of losses, so the Retrophin allegations carried the potential for the most severe penalty.
❝ In the end, it was Shkreli’s lies to his investors that cost him his freedom, not his 2015 decision to jack up the price of an anti-parasitic drug. Prosecutors said Shkreli, 34, misled clients about the performance of his failing hedge funds, secretly used their money to start Retrophin, and then took $11 million from the drug-development company to repay them.
Shkreli played financial manipulation games almost as well as, say, a Congressman keeping his re-election fund after retiring. The operative word being “almost”. Plus, like like one of our politicians most notorious for his daily accumulation of lies, he never learned when to keep his mouth shut.
❝ It’s classic subprime: hasty loans, rapid defaults, and, at times, outright fraud…Only this isn’t the U.S. housing market circa 2007. It’s the U.S. auto industry circa 2017.
A decade after the mortgage debacle, the financial industry has embraced another type of subprime debt: auto loans. And, like last time, the risks are spreading as they’re bundled into securities for investors worldwide.
❝ Subprime car loans have been around for ages, and no one is suggesting they’ll unleash the next crisis. But since the Great Recession, business has exploded. In 2009, $2.5 billion of new subprime auto bonds were sold. In 2016, $26 billion were, topping average pre-crisis levels, according to Wells Fargo…
❝ Few things capture this phenomenon like the partnership between Fiat Chrysler Automobiles NV and Banco Santander SA. Since 2013, as U.S. car sales soared, the two have built one of the industry’s most powerful subprime machines.
Details of that relationship, pieced together from court documents, regulatory filings and interviews with industry insiders, lay bare some of the excesses of today’s subprime auto boom. Wall Street has rewarded lax lending standards that let people get loans without anyone verifying incomes or job histories. For instance, Santander recently vetted incomes on fewer than one out of every 10 loans packaged into $1 billion of bonds, according to Moody’s Investors Service. The largest portion were for Chrysler vehicles.
Some of their dealers, meantime, gamed the loan application process so low-income borrowers could drive off in new cars…
❝ Through it all, Wall Street’s appetite for high-yield investments has kept the loans — and the bonds — coming…Reid Bigland, Chrysler’s U.S. sales chief, said Santander has been a “good partner.”
Typically, you look to see which regulators have had staff cut by the sleaziest members of Congress. That’s where the money-grubbers most inclined to fraud are focused. Nowadays, with today’s version of the Republican Party in slim control of both houses of Congress – with the pimp-in-chief in the White House – you can be assured the beat goes on!