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. […]
via Gizmodo click to see the “BIG Picture” :). Are you guys feeling the same way ? How many of you are not using any product from these three companies ? And don’t forget to comment.
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 […]
Remember the pet-rock fad? People were stupid enough to buy those “pet-rocks.” Surprisingly, the business itself was legitimate. There is another ‘legitimate’ business, which is essentially fraud: several for-profit universities in USA! Online education by the ‘for-profit universities’ is the next biggest fraud to be exposed. These schools are businesses. They sell “degrees.” Nothing appears […]
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 […]
Dylan Ratigan gave a 6 1/2 min summary of how banks pocketed $121 bil of your money in bonuses from 2000-2006. He compared the banks to mob and Alan Greenspan to the God Father. Then he talked to Congressman Alan Grayson of Florida and Bill Fleckenstein about this crisis. I agree with both Grayson and […]
“The best way to rob a country is to own a bank.” A big bank. William Black explains the thievery of Wall Street in simple and easy to understand terms. Biggest take-away from this interview. Current financial melt-down is 30 times worse than the S&L crisis of 80s. Yet, the number of regulators working on […]
“When it comes to its role in the financial crisis, Goldman Sachs has a message for the world: Not guilty. Not one bit.” Here is how they “made” $13 billion in 2009. The following is via Business Week: Goldman’s reputation with its clients—who must have at least $10 million to open an account—has never been […]
