Few people have benefited as much from the central bank’s latest intervention as JP Morgan Chase’s head honcho… Read More The Fed Has Made Jamie Dimon $250 Million Richer Through Its Repo Loans
When it comes to Wall Street’s mindset, the thinking is that it’s legal if you can get away with it. That mindset seems to have captured the Federal Reserve Bank of New York… Read More New York Fed’s Fake Borrowing Rates Raise Ghosts of Libor’s Fake Rates
Now that the company’s operational risk has turned into catastrophe, the accounting probably doesn’t make sense. There are large losses to write off, or hide somewhere.… Read More Airplanes and Accounting Games: The Coming Boeing Collapse?
Increased scrutiny hasn’t put an end to accounting sleight-of-hand… Read More Wall Street Magic Tricks Make Banks Look Safer Than They Are
Volcker, in pursuing financial rectitude, had no allies except the ‘respect’ of the financial world, which, as it turns out, isn’t worth much at all… Read More On the Tragedy of Paul Volcker
In order to eliminate corruption, the government has waged a war against the informal economy. But a large portion of the economy, especially in rural regions, is informal, so this becomes a war on the economy itself… Read More India’s Economy Is Headed for Structural Breakdown
Once again, a chunk of the losses were made in London… Read More NY Fed Is Ominously Silent on Morgan Stanley’s Unreported Trading Losses
The ultimate keeper of secrets regarding who killed JFK… Read More The Last Confession of E. Howard Hunt
There are basically only five ways to accumulate a billion dollars, and none of them has to do with being successful in free market capitalism… Read More Most Billionaires Don’t Actually Like Free Market Capitalism
Better not mess with the former Brazilian president; Putin and Xi are his real top allies in the Global Left… Read More Released Lula in for Greatest Fight of his Life
The exceedingly wealthy are usually content to stay in the shadows while their combined financial leverage and media power keep top government officials more or less in line. But the grassroots strengths of the Warren and Sanders campaigns have jolted some key oligarchs into overt action.… Read More The Billionaire Class Won’t Go Quietly
There is a very substantive argument against Dimon being a patriot and a very persuasive argument that he’s a crime boss sitting atop a federally-insured bank backstopped by the U.S. taxpayer that has scooped up $1.6 trillion in deposits from honest folks across America… Read More Is JPM Chase Chairman and CEO Jamie Dimon a Patriot (As He Claims) or An Orgazinized Crime Boss?