Wells Notice is issued to warn companies of potential criminal investigation. If a company receives Wells Notice, the event itself is deemed a news of material consequence on a firm’s business. All news of material consequence must be filed with SEC. Goldman received its Wells Notice in September 2009 and never filed with SEC about […]
Dylan Ratigan explains why ‘Fat Finger’ excuse for mid-day 1000 pt drop is bogus – in plain English. Dylan has a way with metaphors and words. He coined the following memorable lines in this segment. Quite simply, there is very little capital in our ‘capitalism.’ If a market based on actual value, real accounting standards, […]
I despise the Federal Reserve Board with a passion. Especially the Fed under Greenspan and Bernanke. The right anger has to be aimed at the Fed. Congressman Alan Grayson of Florida explains why we should audit the Fed, which the Senate is resisting.
I am sure you heard about this intraday crash already. At one point today DOW dropped nearly 1000 points. A typo may have triggered it and high frequency trading may have accelerated it. But… Watch the backdrop for this steep drop.. Plunging Euro… Sovereign debt problems at STUPID countries (ex Greece – thanks to Zero […]
The head of the Squid says, “We share some burden.”
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 […]
Back in May 2009, I talked a lot about Matt Taibbi’s article in Rolling Stone magazine, in which he called Goldman Sachs a “Vampire Squid.” In January of this year, I had written an article on TeluGlobe about Matt’s lone crusade against the Wall Street’s mighty banks. Alas, I lost that article to a database […]
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 […]
Folks, beware if you are a facebook user. I used to think Google as Evil company( Rakshasi) , but facebook is more criminal ( Brahma Rakshasi) :). The issue is facebook really knows who you are. Like the old saying “Tell Me Who Your Friends Are and I Will Tell You Who You Are” , […]
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 […]
Remember the phrase by Mr. Buffet, “Financial weapons of mass destruction?” Not only that, several times he mocked investment bankers for little or no value they create in the economy. That was before he himself got stuck in a deep derivatives mess in 2008. He sold European style puts on S&P and it was rumored […]
His name is Fabrice Toure. He is in the central figure in the Government’s fraud case against Goldman Sachs. He was only 27 when Goldman gave him the FABulous opportunity to fleece clients and there by fleece some European retirement accounts. Blogs are referring to this sociopath of a banker (who is now 31) as […]
I think Senator Dodd’s bill on Financial Reform is no-good, very-bad, ugly bill! I have been investing/trading stocks and options (derivatives) for nearly 20 years. I read a lot of stuff on economy, markets etc etc. These are my 2 cents on Financial Regulation based on whatever I come to know from my exposure and […]
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 […]
