financial fiascoes

Moral Vacuum: Jerry Sandusky and the LIBOR Scandal

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 …

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LIBOR = Continuing Corruption in Banking and Finance and Governance

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 …

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Apple, Google, Microsoft Now Dominate Computing

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 …

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On Financial Meltdown Prosecutions

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 …

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The Culture of Finance

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 …

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The Housing “Settlement” Stinks Badly

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 …

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5 Major Wicked Problems and US Election Politics

The five major problems facing not just the US but almost all developed countries are the following: 1)Jobs are going to the developing countries with very favorable rates of exchange and wage level relative  to prosperous developed countries. Wages in China, India, Vietnam, Brazil and others  across the board are a fraction of the developed …

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Occupy Wall Street’s Enduring Message

Nicholas Kristoff at the NYTimes, has a very telling piece about the Bankers who brought about the 2007-2008 Financial meltdown. Recent disclosures by Bloomberg and others have made it clear that the $0.70 Trillion TARP bailout was just the tip of the iceberg as 10 time the TARP, or $7.0trillion has been spent to bailout …

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Occupy Wall Street Moves to TV?

Harry’s Law, in yesterday’s episode called Head Games, takes up the Occupy Wall Street Message in full form.The episode deals with a woman whose home is foreclosed; so in desperation she goes and robs one of the bank’s branches. The team’s defense for the woman is the so called Outrageous Government Misconduct defense. In the …

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