By William K. BlackThe Obama administration’s record of prosecuting elite financial frauds is worse than the Bush administration’s record, which is a very large statement. Syracuse University’s TRAC issued a report on November 11, 2011 entitled �…
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One of the main reasons why we have been not so focused on paper representations of real currencies (i.e., gold and silver) is that ever since the MF Global debacle, in which it became all too clear that if physical gold can be “hypothecated” via…
Boom For Whom
While I’m talking about inequality and the crisis, I realized recently that there’s another channel not usually talked about, via the misperception of success.
Let me start with a puzzle: why did faith in the wonders of financial de…
http://www.nytimes.com/2011/03/26/business/26nocera.html?_r=1&src=tptw
Scary.
“When it came time to pronounce a verdict, the jury found him not guilty of providing false information to the bank, which would seem to be the only fraud he could possibl…
Vampire Squid? Big Government? Crisis report splits
On Monday January 24, 2011, 5:29 pm EST
By Kevin Drawbaugh and Dave Clarke
WASHINGTON (Reuters) – Three competing, politically charged tales of the financial crisis will emerge this week when a U.S….
someone’s gotta be wondering. If any of the PIIGS sovereign debt got drubbed today like little Timmy’s Treasuries got slapped down today… would anyone be buying their stock market here? No frickin way. There’d be blood in the streets.
and let me …
The Subprime Debacle: Act 2, Part 2
Hundreds of billions of dollars of this junk was sold to European banks and funds. And these guys get together at conferences. So Helmut will be talking to Lars who will talk to Jean Pierre and they will realize th…