Yes, that should be the proper headline for the settlement of Goldman Sachs, the Emperor of Fraudsters, with SEC. Via AP News: WASHINGTON (AP) — Goldman Sachs & Co. has agreed to pay $550 million to settle civil fraud charges that the Wall Street giant misled buyers of mortgage-related investments. The settlement was announced by […]
Guts, or kahunas as some would call it, look like this: In this video, Dylan raises temperature on the congressman who does nothing but divert the topic to criticize the Govt and spew Republican talking points. Talking point #1: Indict the Federal Government Talking point #2: Divert the topic to all Republican talking points And […]
So, you are a financial “professional” on Wall Street. You think the world owes you bazillion dollars because you are: a) very smart, and b) you have an MBA in finance, may be from Wharton, or Harvard or Columbia and therefore what you do must be good. You claim that your financial “innovations” help the […]
When Congressman Alan Grayson asked this question, Bernanke said in a written statement, “No!” But a lot of market participants believe that the government does in fact intervene in markets in many overt and covert ways, one of which is to buy S&P futures. CNBS guys debunk this. [This via Zero Hedge] A highly amusing […]
She is baaaaaack! You may recall one of my earlier posts in which I featured a Frontline documentary on Brooksley Born. Well, this visionary and caring woman got to take on the chief criminal himself. From Huffington Post: The panel created to investigate the roots of the financial crisis escalated the government’s assault on Goldman […]
This guy doesn’t mince any words. With exception of a reference to ‘teleprompter’ (what does got to do with anything he said?), and a vicious attack on Obama, – he is right on. ———-
William Fleckenstein is a great resource of sanity in the midst of bubble. He is my erstwhile blogging buddy on Silicon Investor before he catapulted into mainstream punditry. In fact, I got schooled a lot from him about Greenspan’s follies. Bill weighed in today about markets. Watch and think. “after having completely ignored the bursting […]
Folks Here is an excellent summary on GLD. Please be careful and read the fund’s prospectus, if you are invetsed in it. The emperor is naked. “The Gold ETF is an excellent conduit to redirect physical demand into paper. The Gold ETF is similar to a fractional reserve bank. As long as customers don’t fear […]
IN the past few days, I have been occupied on several fronts, which is why lately I am not able to post much on TG. Today’s market action deserves some mention from me. Add to this, Japan is at new 52 week low. 2.5 to 4% losses in a day don’t come that often. Tomorrow […]
Hello Friends This is my first posting. If you are really want to know what a “Dollar” is please see this presentation. Collapse of the Dollar: Testimony on MT Sound Money Bill (HB 639) from Constitutional Money on Vimeo. Some brave folks who shine the light – http://www.gata.org/
This kind of totally goofy market action is happening too often and too much. From Zero hedge: The kneejerk reaction to the completely unsurprising FOMC statement was down… Which is why the corresponding 12 handle move up in the ES is perfectly understandable… as long as one understands that our market is totally broken. 12 […]
Enough Said. (Hat tip to the Big Picture Blog)
Goldman, Toyota and now BP all have problems with consumers. But only one company stock bucked the sentiment. Your government’s handouts help even if your customers ditch you. Enough said.
Apple announced the iPhone 4 today. Many of you might have seen the pictures that were leaked to the gadget site gizmodo.com. The leaked pictures are indeed real. The phone looks like chiseled by Swiss watch makers. Hardware is impressive. And Apple once again raised the bar. Seriously you could hurt someone with this all […]
I teach Engineering Economics, which is essentially an introductory subject on infrastructure finance. One of the questions I routinely asked in this class was, “if you have unlimited amount of money and don’t have to worry about money, what would you do?” The single most popular answer was: “I will travel” Second most popular answer: […]
