Tag Archive for Suckers

North Las Vegas Crisis An Example of Why To Stop Crying, “Shadow Inventory!”

The sad story of North Lost Wages,  Nevada,  is an example of why the “shadow inventory” issue is a toothless bogeyman for the US as a whole. Not only did the bubble create false pricing. It caused the construction of  entire “false communities,” based largely on speculative purchases never intended for occupancy. This bubble activity…

The Facebook IPO: Shareholders Weren’t Invited to the Real Party | Matt Taibbi | Rolling Stone

A suit has been filed by Facebook shareholders against Mark Zuckerberg, Facebook, Morgan Stanley and others. It’s based on a very simple concept: when internal analysts learned that Facebook’s numbers were going to be worse than expected, the company and its bankers didn’t tell everyone, but just “selectively disclosed” information to a small group of…

Egad, The Fed Pisses Me Off

From the excellent Binyamin Applebaum at the NY Times: One part of the economy that’s growing rapidly is the Federal Reserve. These are boom times for the central bank, which persuaded Congress to expand its responsibilities significantly in the wake of the financial crisis. And with greater responsibility comes a larger budget. If not in…