In 1997 the Asian debt crisis was termed by the western media as “Asian Contagion.” The implication being – it is some sort of a terrible communicable disease from Asia. In the interest of ‘fairness’ I am calling the current European debt crisis, “European Contagion.” Zero Hedge reports: Now that Greece is thoroughly irrelevant, the […]
The readers of this blog know how much I love Goldman!! I watched some part of the ‘Goldman hearings’ yesterday. A lot of these senators’ populist rhetoric is utterly stupid. So stupid that even I felt some sympathy for Goldman. Here is the simplified business model of Goldman As a market maker Goldman buys and […]
If it appears from my writings that I am heavily into stock market, that would be true in the past. But, currently I am in a time out mode. For this reason, so far on this blog I refrained from making a market call. The closest comment I made on market direction was in early […]
Ladies and gentlemen, this is what speaking truth to the power looks like. Watch William Black’s congressional testimony. While he was ripping Lehman, Fuld was sitting right next to him. This testimony is for the history books.
At the time of the founding of the United States, European countries were suffering under crippling government regulation. Founding fathers of the United States, in their infinite wisdom, subscribed to the philosophy of freedom instead of feel-good social progressivism. They founded United States on 3 simple tenets of life, liberty, and property*. Life: Government should […]
Adam Smith and Karl Marx are two thinkers that shaped the post-monarchical political framework for the societies. More on these origins later… [Edited inset: I have long argued that communism fell because it tried to restrain one of the basic instincts of human beings – that is, “to be selfish.” During the go-go bubble years […]
A complicated story is better understood with a rightly constructed analogy. Goldman’s selling CDOs and shorting them at the same time might be too complicated for some. If you are one of them, just follow these two great analogies. Mystery solved! First Dylan Ratigan’s car manufacturer analogy: Visit msnbc.com for breaking news, world news, and […]
President Clinton chimed in about his administration’s failure to regulate derivatives and restrain Wall Street’s reckless behavior. In that video bit, he essentially said, “It is not my fault. Even if I tried to do something, Republicans would have blocked anyway. Furthermore, Bush made it worse.” The last two lines are essentially true. But, my […]
This video is from July 2009. The guy doesn’t mince any words. Goldman and more. Just listen to him. I agree with him all the way. I won’t use the language he uses. Still… ఇతగాడి తిట్లు నాకెందుకో శ్రవణానoదకరముగా నున్నవి.
I was excited to hear this news this morning. However, I am not fully convinced that even a tiny fraction of their fraud is brought to light. This is a bit late, but a decent start. However, I don’t think this doesn’t make any dent in GS. Furthermore, Obama admin may be playing politics here. […]
Today’s discussion about free markets on MMGL reminded me of this very funny sketch as a part of a British show, A Bit of Fry and Laurie. This show was done by Stephen Fry and Hugh Laurie (of the House fame in US). Both also featured as lead actors in the TV adaptation of P.G. […]
Folks familiar with electronics and tech news probably don’t see this as a surprise. We have heard Chinese factory worker committing suicide for leaking Apple product details. Now this is even worse. Free market economy in one country is resulting Gulags in another country. Read on. Via Engadget Yesterday, the National Labor Committee produced a […]
There is a lot to discuss on this subject. For lack of time, I was not able to participate in the discussion started by Sandeep. Here is an excellent depiction of the complicated political and economic continuum, which some see in black-and white. What do I mean by “black and white?” “Government is not the […]
I’ve been listening to MMGL for a little while now and once heard a conversation between Mohan garu and Chakravarthy garu, on the show where he talked on health care. I’m waiting for the show which is going to be on the economic policies, etc. – the on Mohan garu promised to do 🙂 I’ve […]
Greenspud was on the hill today and tried to distance himself from any responsibility for helping the banks rob you in the broad daylight.[Via NY Times] In his testimony, an unflinching Alan Greenspan fended off a barrage of questions about the Fed’s failure to crack down on subprime mortgages and other abusive lending practices during […]
