Even if it is unproven that top Goldman executives knew what was going on, what does it say about the culture of the bank that individuals like Tim Leissner were employed there? Who is accountable for that culture?… Read More Goldman Sachs Is Implicated in History’s Largest Financial Con – But Will It Be Held Accountable?
Sometimes the real world really is stranger than fiction… Read More 1MDB Is a Nutty Story. Here’s Why
Companies are floundering in a river of debt of their own creation… Read More Debt Is Back, But This Time It’s Corporate
ublic pensions squander tens of billions of dollars each year on risky, poor-performing alternative investments.… Read More A Wall Street Coup: How Financial Industry Drove Public Pensions Into Crisis and Pocketed Billions in Fees
Sears is a prime example of how hedge funds and private equity companies take over retailers and gradually bleed them dry for their own benefit… Read More Sears Didn’t ‘Die.’ Vulture Capitalists Killed It.
The power of Collateralized Loan Obligations.… Read More “Concerned” Bank of England Raises Alarm about Growth of High-Risk Loans
Bank of America, Deutsche Bank and J.P. Morgan moved money OUT of Danske and in to dollar denominated accounts elsewhere. But that is only half the story… Read More Danske Bank – Who Helped Them Launder $234 Billion?
The federal rescue of Wall Street didn’t fix the economy – it created a permanent bailout state based on a Ponzi-like confidence scheme. And the worst may be yet to come… Read More Secrets and Lies of the Big Bailout
In our warped financial markets, the overriding culture glorifies wealthy arrogant criminal assholes, while ignoring or ridiculing honest, hard working, highly intelligent truth tellers… Read More Heroes and Whores
All the talk about how important it is that a central bank be independent is empty nonsense if that does not also include independence from financial institutions… Read More Ben Bernanke’s Waffle House
As long as the markets go up, the investing class has no interest in truth or consequences… Read More What Keeps Them Up At Night
Did they prevent a full-scale collapse? Yes. Was it necessary to do it the way we did? Not at all.… Read More The Bailouts for the Rich Are Why America Is So Screwed Right Now