Treasury Report Shows Biggest Threat to U.S. Is on Wall Street

• Treasury Report Shows Biggest Threat to U.S. Is on Wall Street 
  by Pam Martens and Russ Martens: December 16, 2015, http://wallstreetonparade.com/  
  If the U.S. government issued a warning yesterday that there was a credible threat of a new terrorist attack from a foreign terrorist, we can guarantee you that it would have made front page headlines. What the U.S. government did instead yesterday was to issue a formal warning that the prospects for a new financial crisis have grown, and, in one area, are at an “historically elevated level.”
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  Since the financial crisis of 2007-2009 did more economic damage to the U.S. than all terrorist attacks combined and will have a devastating impact on the standard of living of the next generation, one would think this new financial warning would have been worthy of a mention on the front pages of mainstream newspapers. And yet, we could find no mention in the New York Times, Los Angeles Times, Chicago Tribune, Washington Post, etc. (To their credit, the Wall Street Journal and Reuters did write about the findings.)
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  What might explain the hesitation to carry the story by the major dailies is the contradictory nature of the material released by the U.S. Treasury’s Office of Financial Research (OFR). That’s the body created under the Dodd-Frank financial reform legislation of 2010 to keep the Financial Stability Oversight Council (also created under Dodd-Frank) informed on a timely basis to rising threats to financial stability in the U.S.
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  The OFR report listed a litany of hair-raising threats to financial stability but then bizarrely concluded: “Overall, threats to U.S. financial stability remain moderate….”
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