Tag Archive for Wall Street shenanigans

Hype Collapses: Alcatel-Lucent “Could disappear,” Says CEO – Wolf Richter- Testosterone Pit

“The company could disappear,” said Alcatel-Lucent CEO Michel Combes, not exactly the kind of wondrous hype CEOs normally sputter to bamboozle people into plowing their money into the company’s stock and drive up its price so that the executive stock options might finally be worth something.

Wal-Mart Shoppers Clobbered By Fed Policies, Warren Buffett And His Ilk Thank The Fed – Wolf Richter- Testosterone Pit

How much have Americans received of the nearly $3 trillion the Fed printed since the financial crisis? The recipients included JPMorgan, now negotiating to settle its various mortgage scams for $11 billion; it made $53.2 billion in profits over the las…

The Mother Of All Delusions: US Stocks Blind To Crashing Earnings Estimates (For Now) – Wolf Richter- Testosterone Pit

Corporate revenues have been crummy all year, and earnings estimates for Q3 have come crashing down. A year ago, they were still expected to grow 15.9%, a sign of blind optimism. By Friday, they’d plunged to 4.7%. During that time, the S&P 500 soar…

David Stockman – Bernanke’s (Untough) Love Child: The $27 Billion Affair At The Hilton – Wolf Richter- Testosterone Pit

Budget Director under President Reagan, then partner at private-equity firm Blackstone Group, and author of bestseller THE GREAT DEFORMATION: THE CORRUPTION OF CAPITALISM IN AMERICA, David Stockman makes mincemeat of the Hilton Hotels LBO by Blackstone (yup, the very firm where he used to be a partner) during the Fed-induced LBO craze. For the prior installment,…