Yesterday the White House released the annual Economic Report of the President – a detailed analysis of actions taken by the Administration to address our Nation’s economic challenges over the past year and the President’s plans to rebuild and rebalance our economy for the future. As part of White House’s commitment to make government more accessible, […]
Remember the infamous slip of tongue by Goldman’s CEO Lloyd Blankfine that Goldman is doing “God’s work?” This PBS report sheds some light on that “God’s work.” You will know what front-running is. Pay particular attention to what former insider Nomi Prins and hedge fund manager Jeff Macky are saying. I agree with Jeff’s defense […]
Finally the only economist on this planet who has really succeeded in battling dire economic conditions with a series of tough measure is having his say in regulating US financial institutions. The following is an excerpt from Mr. Volker’s interview with the Financial Times on Feb 11th. Excerpts: “The implication for Goldman Sachs or any […]
It seems to me that Elizabeth Warren, Chairwoman of Congressional Oversight Panel is the only person fighting for the consumer against the sleazy business practices of big banks. See this interview and notice how CNBS anchors, whose job is to shill for Wall Street money interests, come out as apologists for those unconscionable business practices […]
Today the Eurozone leaders have announced some sort of a rescue plan for debt burdened Greece. The pledge failed to calm fears. Experts I follow are warning that this sovereign debt storm will not stop with Greece, Spain or Portugal. It is expected to spread to entire Europe and affect US and all economies in […]
Here is a nonsensical rant from a right-wing nut and a CNBS host Larry Kudlow. According to this ‘recovered’ drug addict and yet to recover ‘BS’ addict, all tax cuts are good, unions are bad. Bailouts are a necessary evil as long as they prop markets which were not fundamentally justified being at the levels […]
They claim to be the smartest, better than the best. yada yada yada. May be, they are better than the best at keeping the right people in right places. Ladies and gentlemen, “Goldmen” and their Sachs are everywhere there is power. Goldman Sachs is the power. [media id=33]
Mark Faber doesn’t need introduction. A smart, no, very smart investor. Listen to what he has to say.
Recent slide in markets is mainly attributed to the implosion of economies in PIGS (Portugal, Ireland, Greece and Spain). While this is going on,rumor is that Goldman is incurring significant losses YTD (year-to-date) on carry trade and may have to place stop-loss orders. One might ask, “What is a carry-trade?” I was going to explain. […]
Gretchen Morgenson of NY Times is a great business reporter. She is one of the few financial reporters who went against the market hype during the dot com does real work. In her latest NY Times piece (Testy Conflict With Goldman Helped Push A.I.G. to Edge) she exposed Goldman Sach’s sleazy maneuvers that may have […]
This person has been living in their house without making a mortgage payment for nearly a year and a half, and the bank – it’s one of the “Big Three” – HAS NOT FORECLOSED. [Big three: Bank of America, JP Morgan Chase and Citigroup]
If you haven’t noticed the recent turmoil in world financial markets, you haven’t been paying attention. Oh yes, it will affect you in one way or the other. Wonder what is happening? In July 2007 it all started with was souring debt and derivatives related to sub-prime mortgages. Essentially, corporate debt and its derivatives. Now, […]
CNBC is notorious for its cheer leading for markets when they are going up. They even go to the extent to discredit any voices of reason for urging caution against insanity in markets. They got to cheer for DOW 10,000 – twice. Well, they must be devastated to see the magic line cross again today, […]
Few people with vested interest in financial markets openly say things that are worth listening to. Mr. Mohamad El-Erian of Pimco is one of the few financial gurus with some integrity left. He is telling us to be cautious in financial markets. Why? You can read more on his thoughts at Bloomberg, “Mind the Gap.” […]
Dylan Ratigan was one of the very few sane reporters on CNBS. He was shown the door for reasons not disclosed. However, he came back to host a morning show, “Morning Meeting” on MSNBC about 10 months ago. Listeners of Mohana Murali GaanaLahari know that I strongly believe that President Obama only talks tough and […]
