Tag Archive for Wall Street shenanigans

Morgan Stanley’s Penny-Stock Shenanigans in Spain- Wolf Richter- Testosterone Pit

It’s so bad, it’s almost funny. It happened Friday afternoon when no one was supposed to pay attention. In December 2010, seven regional savings banks in Spain were cobbled together into one bank. They’d been sinking into the quagmire of a collapsed housing bubble. The hope was that combining seven dead cats would somehow create one live dog.

The Next Big Thing: The Fear Of Climate Change – Wolf Richter- Testosterone Pit

The last big thing was green tech – from wave-power generators to the smart grid. Hyped in the bipartisan stimulus bill, it  promised gobs of jobs, billions in revenues, and untold riches. Private investors plowed in billions too. It ended up in a massive pileup of capital destruction. Fatalities were everywhere.

“The Mother Of All Shorts” – Wolf Richter- Testosterone Pit

The Dow Jones Industrial Average and the S&P 500 have been stumbling like drunken but determined sailors from all-time high to all-time high, despite an ongoing employment fiasco and lousy economic data. And despite an avalanche of declining corporate revenues: of the 30 Dow components, 25 reported first-quarter results so far, but their combined revenues…

Wall-Street Engineering Hones In On Apple’s “Offshore” Cash – Wolf Richter- Testosterone Pit

On paper, Apple has no reason to borrow. Last time it issued bonds was in 1996, when it flirted with bankruptcy and absolutely had to get its hands on some moolah. After Steve Jobs returned in 1997, Apple wisely stayed away from Wall Street and did its own thing. But that era is over. And…

The Worldwide Economy Is Fine, But The Sales Reps Are Lazy – Or Something – Wolf Richter- Testosterone Pit

Some of the crown jewels of corporate America have reported declining revenues and earnings, and have lowered their forecasts, and in doing so, have unleashed a flood of obfuscation and excuses – from Easter falling on the wrong date to lazy sales reps. So when Caterpillar reported on Monday, it was almost refreshing in its…

Wall-Street Craziness Is Back- Wolf Richter- Testosterone Pit

The craziness on Wall Street, the reckless for-the-moment-only behavior that led to the Financial Crisis, is back. This time it’s Citigroup that is once again concocting “synthetic” securities, like those that had wreaked havoc five years ago. And once again, it’s using them to shuffle off risks through the filters of Wall Street to people…