Tag Archive for Wall Street shenanigans

Dow Hits New High, 59% of Americans Feel A Recession – Wolf Richter- Testosterone Pit

By the irony of timing, the Dow hit an all-time high as markets opened. Even Apple rallied. Exuberance wafted through the air. Hype was flowing thickly. The happy days were back. New highs beget new highs. And everyone knew why: the Fed’s money-printing and asset-purchase operations. By the irony of timing… because 30 minutes later, kitchen-table…

A Year After Declaring War On The Banks – Wolf Richter- Testosterone Pit

On January 22, 2012, French presidential candidate François Hollande shook up the banks: “It has no name, no face, no party, it will never be candidate, it will therefore never be elected, yet it governs: that enemy is the world of finance,” he said. It “freed itself from all rules” and “took control of the economy,…

How Big Is “BIG”- Wolf Richter- Testosterone Pit

“Repression” is what Richard Fisher, President of the Dallas Fed, called “the injustice of being held hostage to large financial institutions considered ‘too big to fail.’” He sketched out the destructive impact of these TBTF banks that, as “everyone and their sister knows,” were “at the epicenter” of the financial crisis—“whose owners, managers, and customers…