NYTimes headline – Iran Sentences Four to Death Over $2.6 Billion Bank Fraud. Hmmmmm – Sharia or Islamic Law has more bite on white collar crime than in the US. This is the number one festering financial problem in the World. The top ranks of the Financial community in the US,and all the developed world, appear to believe they a)have no fiduciary trust obligations to their Muppets…
Financial turnaround Tall Tales from the Banking Community are not hard to find because the Banksters are creating scandolous headlines at an ever faster rate this year. Yet these same parties and much of the Financial Press continue to insist that everything is a-okay. The apologists make very hollow arguments: 1)financial markets are the most efficient and effective in the world so why tinker…
The following is a rotten prediction based on the LIBOR Scandal. It is “rotten” becuase it has huge implications not just for the US Presidential elections but also for worldwide governance. And the situation is not pretty. First take a look at the LIBOR Scandal here: The whole problem is this. If banks and Financial Institutions are willing to manipulate the LIBOR rate that underlies…
What possible connection can one make with convicted child molester, Penn State Assistant Football coach Jerry Sandusky, and the LIBOR interest rates set in London by a select list of 18 banks lead by Barclays Bank? Another bit of trash journalism or is there a possible connection? Jerry Sandusky, convicted child molester This last week, the public learned from the Freeh report that highest level Penn State officials…
When you think of the English, Justice and “Doing the Right Thing” they are almost synonymous. One has to think that near-failure of the Royal Bank of Scotland and Northern Rock during the 2007-2009 Financial Crisis was just an anomaly. Just a whiff of the Wall Street Flu. The British run Wimbledon, the Olympics and they get things right. Well maybe not. LIBOR – 5…
The Big 3 in Consumer Computing for the next 3-8 years have declared themselves. With Microsoft and Google now committing to hardware as well as software they have joined Apple as all-in in Consumer Computing. In effect the Apple Model, compete in any and all hardware and software segments while holding the critical OS keys to Computing – this is the model that Google and…
Matt Taibbi at Rolling Stone is noted for his investigations of the Financial Community particulary since the Financial Meltdown of 2007 to 2009. In an article in Rolling Stone for February 2011 Matt asked the question Why Isn’t Wall Street in Jail?. he concluded that it was two major factors – The Obama administration and Treasury was a)protecting those who contributed to the President campaign…
Well I saw the Jamie Dimon performance on Meet The Press on Sunday Morning and he looked good in a Black Swan motif. Here is what some commentary had to say: LATimes - What Jamie Dimon Didn’t Tell You on Meet the Press NYTimes - What the Banker Did Tell you in StageCoach FinancialTimes – Jamie Dimon creates a drama about a Credit Crisis So there you have it,…
The following letter of resignation by Greg Smith from Goldman Sachs published at the NYTimes appears to provide proof that the Finance Vulture Culture has survived despite the onslaught of Bush and Obama administration legal prosecution cases against the financiers responsible for the Mortgage Meltdown and Financial Crisis. Now to be sure this Survival of the Fittest extends beyond Goldman Sachs. But at least find out what Axes, Hunting…
If the Republicans want a bona fide issue to tar and feather President Obama on, its his kowtowing to the banks exemplified most recently by the Housing Settlement. Once again, “for the sake of the economy”, banks get away with major white collar financial crime. Anything for a settlement. The $25Billion is peanuts in comparison to the the more than $700 billion in underwater mortgage due to the…
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Captain Jack Aubrey and Spymaster Stephen Maturin are the matching pieces in this historical novel. It is remarkable that English literature has two series, Horatio Hornblower and Aubrey + Maturin both set in the same era and of such great quality. Desolation Island tells you why the era of the dawning Enlightenment, European Wars and Industrial Revolution was so tempestuous... and on a prison ship voyage to Australia. Such drama!