Share this page!

Kurt Hackbarth 🌹 Profile picture
Twitter logo
28 Jan, 5 tweets, 3 min read
In October, I wrote in @jacobinmag about the parasitical nature of private banking in #Mexico (article here: jacobinmag.com/2020/10/privat…).

Now, a group of foreign banks has just been found guilty of price fixing.

aristeguinoticias.com/2501/dinero-y-…
According to an investigation by the Federal Economic Competition Commission (COFECE), the banks colluded to fix the prices of governmental bond emissions, using chat rooms to decide amongst themselves whether or not to buy or sell.

lexlatin.com/noticias/cofec…
Thus, the boys helped themselves while screwing over those buying the bonds in the secondary market.

Unfortunately, the COFECE decided to give them nothing more than a slap-on-the-wrist $1.5 million fine, only 4% of what they could have been charged.

bloomberg.com/news/articles/…
The MORENA majority in the Senate is planning on calling the head of the body to testify regarding the light penalty. It remains to be seen whether anything will come of it.

Ever rapacious, the banks will be appealing even this most lenient of fines.

jornada.com.mx/notas/2021/01/…
In light of the #GameStop affair, the price-fixing scandal in #Mexico is yet another reminder that:

1. The financial markets are rigged.
2. Large institutions continue to be able to get away with it.
And...
3. Privatized banking continues to be a disaster for Mexico.

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Kurt Hackbarth 🌹

Kurt Hackbarth 🌹 Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @KurtHackbarth

Kurt Hackbarth 🌹 Profile picture
12 Dec 19
Feeling so bad for Jeremy Corbyn right now. An honest, decent man, lifelong anti-racist campaigner and fighter for justice around the world, denigrated, demeaned and slandered to the point of being reduced to practically a subhuman caricature. This is on you, media.
This is someone who fought apartheid when Thatcher was calling the ANC terrorists, who opposed Latin American dictatorships when Maggie was playing footsie with Pinochet, defended the rights of Palestinians, called out Saudia Arabia for Yemen, called a coup a coup in Bolivia.
This man, this lifelong campaigner for justice, could not just be opposed. He had to be, from the moment he raised his head as leader of the Labour Party, destroyed, debased, dehumanized. We talk in the abstract of a class system - this is how it perpetuates itself in practice.
Read 5 tweets
Kurt Hackbarth 🌹 Profile picture
27 Oct 19
THREAD: What the #US media won't tell you about the popular rebellion in #Chile.

In 1973, #Nixon/#Kissinger provoked a coup to overthrow the democratically elected #socialist government of Salvador #Allende, leading to the 17-year nightmare of the #Pinochet dictatorship.
In addition to torturing, disappearing, and murdering thousands of dissidents, Pinochet turned #Chile into a laboratory experiment for #neoliberalism. With the help of Milton #Friedman and the "Chicago Boys," they set to work privatizing everything they could get their hands on.
Health, education, pensions, roads, even WATER-everything was sold off to #Pinochet's cronies. #Chile became the shining, model state for our new, post-Keynesian world. That this only could've happened by installing a #fascist dictatorship was omitted.
theguardian.com/sustainable-bu…
Read 14 tweets
Kurt Hackbarth 🌹 Profile picture
19 Sep 19
So @ewarren is a #progressive, you say? Only if you are willing to pretend that foreign policy doesn't exist (or, like most of the Beltway bubble, you're a reflexive apologist for American exceptionalism).

Let's break it down in a nice, meaty thread.

#ThursdayThoughts
@ewarren Despite all of her criticisms of Trump as unfit for office, she's had no problems in giving such a menace everything he's asked for -and more- in military spending. She only voted against the most recent defense budget when she decided to run for prez.
leftvoice.org/Elizabeth-Warr…
@ewarren And with regards to the military she's voted to overfund, Warren wants to "green" it, but not reduce it - that is, make it a more climate-friendly tool for aggression and global dominion. That's about as bizarre a policy contortion as you can make.
commondreams.org/news/2019/05/1…
Read 11 tweets
Kurt Hackbarth 🌹 Profile picture
8 Sep 19
.@ewarren attempts to explain away her years as a registered Republican as a time when she "wasn't very political." Don't believe it. She was, as people who knew her at the time attest, a "diehard conservative."
politico.com/magazine/story…
@ewarren A diehard conservative who was, in fact, "surprisingly anti-consumer."
@ewarren So vehement was her conservativsm, in fact, that it provoked some unusual reactions from listeners.
Read 9 tweets
Kurt Hackbarth 🌹 Profile picture
23 Apr 19
1/? Despite knowing it was a gotcha question, despite knowing exactly what headlines would be spun out of it, Bernie defended his proposal to let prisoners vote in last night's #CNNTownHall. No "let's have a conversation about it" (Kamala), no rejecting it out of hand (Buttigieg)
2/? This required both moral and political courage, and is why Bernie has been able to shift the bar on issue after issue. America stuffs its poor and minority population into for-profit prisons under drug laws that have deliberately targeted and criminalized them.
3/? Former Nixon advisor John Erlichman laid it out very clearly: drug policy was a way to attack the president's enemies. "Disrupting their communities," of course, was a euphemistic way of saying "ruining their lives." Full article: harpers.org/archive/2016/0…
Read 7 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @KurtHackbarth has new unrolls!

Check out other threads from @KurtHackbarth!

Read all threads by @KurtHackbarth