Wednesday, June 4, 2014

Elizabeth Warren Got $525,000 Book Advance

Massachusetts Sen. Elizabeth Warren was paid a $525,000 advance for her new book, A Fighting Chance, according to financial disclosure forms, reports The Hill.

The documents also show that she has a personal fortune that totals at least $3.66 million, including two investment accounts each valued at more than $1 million each.



  1. Well that makes her more than 600% percent wealthier than me, which according to Piketty is way too much. So I demand that she give me some of that money immediately. She endorses "Capital in the 21st Century" after all so pay up bitch.

    1. Was she subsidized?

      Did she dutch sandwich her earnings?

      Did she mark to fantasy her assets?

      Did she div re cap a company and complete a bust out?

      I think not.

  2. Wow, and people say Amerika isn't a banana republic...

    1. JPMorgan Sees Record $100 Billion in Loan Funds

      The business of bundling junk-rated corporate loans into top-rated securities is booming like never before after the implementation of regulation aimed at making the financial system safer.

      More than $46 billion of collateralized loan obligations have been raised this year in the U.S. through the end of May, after $82 billion were sold in all of 2013, according to Royal Bank of Scotland Group Plc. JPMorgan Chase & Co. boosted its annual forecast to as much as $100 billion, which means 2014 may end up as the biggest year on record, while Onex Corp. said yesterday it will expand its CLO business.

      Issuance of CLOs, which helped finance some of the biggest leveraged buyouts in history during the last credit boom, has picked up following an early 2014 slump brought on by the publication of the Volcker Rule designed to limit risk-taking by banks -- major buyers of the funds. CLOs are investors in speculative-grade loans, an asset class in which U.S. banking regulators have said underwriting standards have become too lax.
      ‘Extraordinary Run’

      all junk...all the time....if recovery so healthy so much junky credit?

      why can't the poor borrow their way to prosperity, too?

      works well for the rich.......

  3. If you want to hit these hypocrites in elite academia that harp on inequality where it counts, bring up the idea of redistributing their schools endowment funds, funded by none other than extremely wealthy people, to all of the smaller schools that have a very small fraction of what they have. Harvard is a huge beneficiary of Picketty's multi-generational inequality. I'm sure since Harvard's elite are so concerned about inequality, they'll be the first ones to jump on board with this. I won't hold my breath, though.


  4. Hillary Clinton’s Goldman Sachs Problem

    She talks populism, but hobnobs with Wall Street
    A few weeks ago, Hillary Clinton delivered a much-touted policy speech at the New America Foundation in Washington, where she talked passionately about the financial plight of Americans who “are still barely getting by, barely holding on, not seeing the rewards that they believe their hard work should have merited.” She bemoaned the fact that the slice of the nation’s wealth collected by the top 1 percent—or 0.01 percent—has “risen sharply over the last generation,” and she denounced this “throwback to the Gilded Age of the robber barons.” Her speech, in which she cited the various projects of the Bill, Hillary, and Chelsea Clinton Foundation that address economic inequality, was widely compared to the rhetoric of Sen. Elizabeth Warren (D-Mass.), the unofficial torchbearer of the populist wing of the Democratic Party. Here was Hillary, test-driving a theme for a possible 2016 presidential campaign, sticking up for the little guy and trash-talking the economic elites. She decried the “shadow banking system that operated without accountability” and caused the financial crisis that wiped out millions of jobs and the nest eggs, retirement funds, and college savings of families across the land. Yet at the end of this week, when all three Clintons hold a daylong confab with donors to their foundation, the site for this gathering will be the Manhattan headquarters of Goldman Sachs.

    Goldman was a key participant in that “shadow banking system” that precipitated the housing market collapse and the consequent financial debacle that slammed America’s middle class. (A system that was unleashed in part due to deregulation supported by the Clinton administration in the 1990s.) This investment house might even be considered one of the robber barons of Wall Street. In its 2011 report, the Financial Crisis Inquiry Commission, a congressionally created panel set up to investigate the economic meltdown, approvingly cited a financial expert who concluded that Goldman practices had “multiplied the effects of the collapse in [the] subprime” mortgage market that set off the wider financial implosion that nearly threw the nation into a depression.