Obama’s Perjury Of Oath Of Office: The President “Shall Take Care That The Laws Be Faithfully Executed.”
The lesson from the last 20 years of immigration policy is that lawlessness breeds more lawlessness.
Once a people or a government decides to normalize one form of lawbreaking, other forms of lawlessness will follow until finally the rule of law itself is in profound jeopardy. Today, we have a constitutional crisis on our hands. pResident Obama has decided that because Congress has not granted amnesty to millions of illegal aliens living in the U.S., he will do so himself. Let us ponder for a moment just how shameless this assertion of power is.
Hours ago, it was revealed that Deutsche Bank is set to fire some 23,000 people or around a quarter of its workforce.
The move comes as new CEO John Cryan works to cut costs and boost profitability after the bank’s co-CEOs Anshu Jain and Jürgen Fitschen were shown the door as investors became impatient with efforts to boost profitability and as a string of settlements and seemingly endless accusations of malfeasance underscored deep seated problems with the bank’s corporate culture.
Of course as we noted this morning, the layoffs at Deutsche don’t say much for Europe’s economic “recovery” either and may also suggest that far from creating jobs, the persistence of ZIRP has crimped margins forcing banks to make up the difference by getting leaner.
In any event, Deutsche Bank isn’t the only European lender that’s axing people. As tipped by CEO Federico Ghizzoni earlier this month, UniCredit is now set to layoff 10,000 employees across its Italian, Austrian, and German operations. Here’s Reuters:
UniCredit (CRDI.MI), Italy’s biggest bank by assets, is planning to cut around 10,000 jobs, or 7 percent of its workforce, as it seeks to slash costs and boost profits, a source at the bank told Reuters on Monday.
The planned cuts will be concentrated in Italy, Germany and Austria, several sources said, adding that they include 2,700 layoffs in Italy that have already been announced.
A UniCredit spokesman declined comment beyond noting that the bank’s CEO Federico Ghizzoni had on Sept. 3 said there were no concrete numbers on potential lay-offs, after a report said it was considering eliminating 10,000 positions in coming years.
Ghizzoni is reworking a five-year strategic plan, unveiled only last year, that will aim to boost revenue and cut costs. The revised plan is expected to be announced in November.
UniCredit, which has 146,600 employees across 17 countries, is under pressure to boost its profits as low interest rates are expected to keep hurting its earnings in coming years.
And there, ladies and gentlemen, is your European recovery – 33,000 pink slips in a single day.
Remember when Hewlett-Packard announced it would fire 58,000 in February just so the company could spend even more billions on stock buybacks to make its shareholders filthier rich?
Alas, since then things have gone south not only for HPQ stock but also for the company’s buybacks activity and so Meg Whitman clearly needed to spend even more on buybacks.
But where to get the money? Wait, here’s an idea: lets fire another 30,000!
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Reports to Down Detector about SNAP EBT cards not working began coming in at a furious pace on Friday across the nation. From Virginia to Iowa to Alabama to Minnesota to New Mexico to Missouri to Idaho, reports of non-received payments to ‘can’t purchase anything on it’ came flooding in as seen in the screenshot comments below.
One commenter warned back: ‘LOL!!! You SHEEP haven’t seen anything yet…This is just a BETA test to see how you idiots will react. The REAL event is going to happen this September.’
There is little to no recognition of the key fact of Dodd-Frank Act. Namely, Title II of the Act to establish an Orderly Liquidation Authority, vests the FDIC with the authority to conduct a European-style bail-in.
Hearings continued in the House and Senate to review what exactly was voted into law with the 2010 Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) even as the rules for implementing the law were still being written.
- On December 10, 2012, a joint strategy paper was drafted by the [BOE] Bank of England Owned By The Rothschild Mafia and the Federal Deposit Insurance Corporation (FDIC) titled, Resolving Globally Active, Systemically Important, Financial Institutions.
- The paper compares the resolution regime established by Title II’s Orderly Liquidation Authority (OLA) to the Prudent Regulation Authority (PRA), a similar resolution authority in the United Kingdom.
The regime in the U.K. was established April 1, 2013 following the dismantling of the Financial Services Authority.
- Beginning in June the PRA will be overseen by Bank of Canada governor and former head of the Financial Stability Board, Mark Carney, when he becomes head of the Rothschild [BOE] Bank of England.
- After expropriating the material wealth of the United States Of America, the aforementioned international syndicate will have THEIR financial stability after years of bilking wealth through murder, sabotage, swindling, blackmail, etc etc.
- US banks are told to be prepared for 30-day crisis
- US banks are told to be prepared for 30-day crisis.
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