Reading the media or listening to the talking heads on financial news stations, you might think that the SEC’s case against Goldman Sachs was concocted out of almost nothing, just for political purposes. The following article gives a good sense of the uncaring, unethical behavior of Goldman employees. Clearly, the actions of Tourre, the trader [...]
Entries Tagged as 'Bailout'
Emails Document Goldman Knowingly Selling Bad Investments
April 26th, 2010 · No Comments · Bailout, Banks, Financial, Reform, Regulation, Stock Market, Wall Street
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Jon Stewart on Financial Reform
March 18th, 2010 · No Comments · Bailout, Banks, Financial, Policy, Politics, Reform
Barry Ritholz of the Big Picture posted a link to Jon Daily skewering Senator Dodd’s “reform” bill and even more funnily and accurately skewering the accepted practices of the big financial firms. If you don’t end up laughing and angry, I’ll be surprised. He so completely captures the “legal” fraudulent activities of the biggest financial [...]
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Paul Volcker’s Influence Rises
January 22nd, 2010 · No Comments · Bailout, Banks, Corporate Power, Economy, Federal Reserve, Financial, Obama, Stock Market, Treasury, Wall Street
Obama had Paul Volcker at his side when he announced his new plan to regulate the big banks. This is a big deal. It may signal the beginning of the end for the of reign of Larry Summers and Treasury Secretary Geithner over Obama’s economic and financial policies. By giving the big banks every possible [...]
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The First Good News in a Long Time – Obama Takes on Banks
January 22nd, 2010 · No Comments · Bailout, Banks, Obama, Regulation, Stock Market
Just when I despaired that Obama lacked the guts to get tough on banks, he came out with a clear, strong plan to cut down the unregulated, enormously profitable, operations of banks too-big-too-fail – and to cut these banks down to a size that won’t be too big to fail. Perhaps the best news of [...]
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“Home Builders (You Heard That Right) Get a Gift”
November 16th, 2009 · No Comments · Bailout, Corporate Power, Economy, Policy, Taxpayers, Wall Street
The latest outrage is revealed in this New York Times article. Next to the Wall Street banks is their any group less deserving of taxpayer largess than the big homebuilders that reaped the benefits of Wall Street’s mortgage financing bonanza? I can’t think of one. Well, read it and weep. The latest handout – to [...]
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The Sad State of Our Country
October 12th, 2009 · No Comments · Bailout, Banks, Corporate Power, Credit Default Swaps, Federal Reserve, Mortgages, Obama, Policy, Politics, Restructuring, Stock Market, Taxpayers, Treasury, Video, Wall Street
Last night I watch Bill Moyers Journal via the internet. The first piece interviewed David Simom, creator of “The Wire.” His realistic view of the quagmire of drugs/ghettos/crime/corruption had such a ring of Knowing that I found myself nodding and shaking my head again and again. If you are a “Wire” fan, as I am, [...]
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Relative Values Graphically Displayed
September 30th, 2009 · No Comments · Bailout, Policy, Wall Street, iraq
Here’s a enlightening graphic (click to show in browser so you can enlarge it):
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Richard Russell – “The Bailout Campaign Stinks to High Heaven”
July 13th, 2009 · No Comments · Bailout, Obama, Policy, Stimulus, Stock Market, Wall Street
I came across this quote in a post on Words from the Investment Wise (via the Big Picture). I couldn’t have said it better myself! The quote du jour this week comes from Richard Russell, 84-year-old doyen of newsletter writers who has been scribing the Dow Theory Letters for the past 50 years. Russell said: [...]
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Why I’m Discouraged
July 1st, 2009 · 1 Comment · Bailout, Banks, Commodities, Corporate Power, Debt, Economy, Federal Reserve, Financial, Global Economy, Obama, Policy, Politics, Stock Market, Treasury, Wall Street
I’ve been discouraged for some time by Obama’s apparent reliance for advice on two of the architects of the transfer of wealth and power to the mega investment banks. Larry Summers, who is the economic adviser on whom Obama relies most heavily, led the push for repeal of the Glass-Steagall Act in the Clinton Administration. [...]
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Unemployment Claims Fall Because Benefits Exhausted
June 23rd, 2009 · No Comments · Bailout, Banks, Corporate Power, Unemployment, Wall Street
This interesting information comes from Barry Ritholz, The Big Picture: Continuing Claims “Exhaustion Rate” Posted: 22 Jun 2009 07:00 AM PDT Last week, we saw Continuing Claims decrease — proof, said the green shooters, of the imminent economic recovery. Only, not so much: Those of you (who can still afford the luxury of) a trusty [...]
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