Search Results for: Greedy

Greedy Parable

The NYTimes has a story on the Bernard Madoff $50Billion Ponzi scheme that has wreaked havoc among the wealthy in New York this Christmas. Fittingly the story title is : For Investors, Trust Lost, and Money Too Maddof’s doing to his posh investors is but a reflection of what US Finance and Wall Street has …

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Greedy Guts vs Moral Hazard

Up until recently, the Financial Community has been spurning participating in a solution to the financial problems plaguing capital markets due to the leverage, derivative  and sub-prime fiascoes. But now the Adminsitartion is supposedly reading the riot act to the big banks and financial houses regarding the fall of Lehman Brothers. See here.  Now, this …

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Greedy Guts Us 2

The depth of the injury that Wall Street Greed has done to the US Economy is stunning. But now it is being made worse by the major financial institutions working for their own ends primarily at the risk of the whole economy. Yet the cost to  taxpayers through their Moral Hazard Insurance Agents(think US Treasury …

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Greedy Guts Us

Our continuing series on the credit crunch gripping US financial markets in which key Financial Players in the mortgage and security creation and evaluation businesses (think Moody’s and Standard and Poors in the latter case) did an Eliot Spitzer – failed to deliver on the fiduciary trust and monetary integrity for which they are paid …

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Wall Street Presents Sweeny Todd – Greedy Guts Itself Again

In Sweeny Todd fashion the Financial industry has chosen, on first blush, a rather unexpected target for its financial rapacity – itself. And recent articles in the prestigious MIT Technology Review- The Blow Up and The Economist-the Darkside of Debt detail how the jugular cuts, more appropriate to a cheap Hollywood Slasher flick, were done …

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Greedy Guts Itself:2

In our initial Greedy article, I have argued that Financial Institutions have largely put aside Fiduciary Trust – and now have a new primary goal – their own wealth with perhaps some coincident client gains but only for a carefully selected class. In this article by Steven Pearlstein at the Washington Post – you see …

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Posts

Gun Culture: 2 Views By admin | Aug 6, 2019 | tools In the aftermath of 4 mass shootings in a week in the US, two view points on the nature of the Gun Culture appeared to offer insights and into the prevalence of gun ownership in the US relative to the rest of the …

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MF Global:Wall Street Reforms Fail: Update

Three new reports on MF Global’s Bankruptcy and its Impact on Financial Policy are worth noting: NYTimes – Gretchen Morgenstern, who has been instrumental in exposed recent Financial Follies, describes the damage to the credibility of current financial regulatory reforms and how the current European financial crisis impacts American banks and financial institutions as a consequence. Marketwatch …

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Is the Wall Street Banking Game Fixed ?

There is strong evidence that what has been suspected is true – the Big Banking Game is Fixed. And you thought the top US Banks had to fight to survive in one of the toughest and most coldly efficient banking markets. But diverse financial media players like China Post, Bloomberg, Iranian Financial Times,  NYTimes,  and …

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Wall Street’s Made-off with the Money Culture

What is becoming increasingly apparent and broadcasted ever more widely across all media is that the culture at the top tier US banks, hedge funds, and financial firms is an anything goes, casino gambling culture. $50B fraudster Bernie Madoff was not an isolated aberration but symptomatic of Wall Street’s greedy gambling addiction. Just one example, …

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Update:Finance and Economics -The Obama Achilles Heel

Frank Rich of the NYTimes provides another update to this article in his opinion piece “After the Massachusetts Massacre”. Rich argues that the problem for President Obama has been that he failed to make jobs and financial regulation top priorities. Here is the core of what he had to say: Obama’s plight has been unchanged …

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The Supremes Vote for a Bautocracy=Bought Political Power

Conservative pundit George Will is consistently arguing in favor the myth of markets being efficient and self-correcting. Greed is a good thing because those who are too greedy will “eventually” get their come-uppance in efficient, free markets – just like monopolists will finally fail if they don’t meet their customers needs. The only thing preventing …

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Wall Street Banksters Disqualify Themselves Deliberately

Watching the Congressional Financial Crisis Commission hearing under Congressman Peter Angelides the past two days has been as enthralling as watching screeching chalk writing on a blackboard. It is so discordant. This is Kabuki Theater where all the players know their roles and the only question is who will break form or slip up. The …

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Has Too Much of the Financial Community Gone Over to the Dark Side ?

The question confronting the Obama administration, Treasury Secretary Tim Geithner,  and its financial regulators is whether too much of the Financial Community has gone over to the Dark Side. This notion has two possible interpretations. Information Dark Side – The first idea posits that financial institutions have now become dependent on having corners on the …

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Six Sigma Compensation

 We need Wall Street greed control. Why greed control ? Time after time reporters of the financial scene are telling us that unbridled greed spurred otherwise rational bankers and other financial executives to make the stupid bets that has caused the mortgage meltdown and spread a recession throughout the world while many people in developed country’s around the world …

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Rest of the Story 3: Somali Pirates and The Economist

Some people ask why has free Open Source software got such a broad foothold in so many markets? Because at the price of free its protected against “cut off the oxygen” zero pricing tactics by Microsoft, Oracle and other major software players while providing the decided competitive advantage of allowing customers to see and fix …

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Madoff, QED

In mathematics QED Quod Est Demonstrandum is used at the end of a proof. It  means that which was required to be proved has now been provided for all to see. I have been arguing for the past two years that the US Financial System has gone off the rails because unmitigated greed (I have …

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