financial fiascoes

Historic Financial Penalty = Feds Cave Again

I dread reading the following headlines in the NYTimes or the Wall Street Journal – Gargantuan Fines Imposed on Wall Street Institution or Record Breaking Damages Inflicted on Bank. It might as well read =>  Hugest Biggest Historically Supercalifragilisticexpealidocious Compensatory Damages Imposed on Piteous Bank because of course it means the opposite. The Federal Government …

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Where is the David Einhorn for America

David Einhorn, the tiny $7Billion Hedge Fund manager, has tweaked the nose of computing’s Goliath, Apple. Since a week Thursday, David  has shocked the US business world with his direct, loud, and “uncivil’ attack on Apple’s huge cash hoard of nearly $130Billion. And Apple’s cash hoard islikely getting bigger on a  growth rate of 10%per quarter for the …

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Daily Fact: GOP Presidents have worst record for Stock Market Performance

No less an authority than the Economist shows that under Democratic Presidents the stock market   has outperformed by a wide margin  what was accomplished by Republican Presidents. And this GOP poor economic and stock market performance  goes back  80 years. The fundamental problem is that Republican Presidents have had poor economic policy and tolerated …

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US Banking:Bank of America Is Sc**wing Shareholders Again

Bank of America is reported in the Dealbook of the NYTimes as settling a class action suit by Bank of America shareholders for $2.43B. An earlier Dealbook  story decribees the reasons for the lawsuit. This lawsuit, brought by Bank of America shareholders, claims that Bank of America and its executives, including its former chief executive, Kenneth …

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Daily Facts: Trust in US Financial Institutions

Each quarter the Kellogg School of Northwestern University and the University of Chicago Booth School of Business do a survey of  more than 1,000 American households examining the trust in US Financial institutions. The latest results for June 2012 are labelled Too Big To Trust. The Stock Market has the lowest confidence level at 15% …

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Weill Weill Weill – the Financial Tall Tale Gold Medal

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 …

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