Volker: How to Fix the Financial System (Must Read)
I have great respect for Mr. Paul Volker, former Chairman of the Federal Reserve Board. He is widely credited for saving the US financial system…
Business
Greek in Plain English: To Bailout or Not to Bailout
In the next few weeks we will be hearing a lot about sovereign debt crisis for Greece. Debt crisis is derivatives crisis. Derivatives are Greek…
Shhhhh…. Don’t Tell Anyone
Those who have been following US financial markets for a long time know one thing for sure: markets are manipulated by the money interests. Many…
Worrisome Signs for Stocks
Now that Bernanke is confirmed for another term at the helm of the Fed, some pundits will have you believe that the stocks are safe….
Goldman, AIG and NY Fed Hearings Preview
It has been widely reported that Goldman Sachs got a sweet-heart deal from the bailout arm of the US Treasury, courtesy the then Treasury Secretary…
Can’t Pay, Take the Keys
This event by itself may not unsettle the credit markets like the news of Lehman Brothers bankruptcy filing did. But it epitomizes the symptoms of this country’s corrupt financial system where excessive credit and leverage has pretty much sucked every last penny out of the system – especially from the hardworking middle class.
Give What We Want or Else…
It is irrelevant which party is in power, the modus operandi is the same. Give us what we want, or else markets will tank! What we know from this process is that it is not the elected officials who are in charge. This is no democracy. This is an oligarchy. A bunch of fat cat bankers and large corporations are in charge. Not the Congress. Not the President.
Obama’s Words Didn’t Cause the Market Slide This Week
For several months, the market has been heavily manipulated by the Feds and the influential trading firms on Wall Streets. Now what? Looks like on Friday the market averages retreated to a technical support level (holding the 11-month uptrend line.) The markets may be due for a short-term bounce. But I do think that this may be the beginning of another steep slide in the market.
New Found Spine or Mass Wake Up Call?
Banks, bonuses and bailouts – busted? Is this a new found spine for the President? Or, is it a reaction to the wake-up call he got from Massachusetts? Whatever it is, I don’t see the bank executives shivering in their boots.
This Guy Shoud be Prosecuted
This news is at least 10 days old. But it is important enough to share with you. [This story is a bit of an extension…
The Dudd who Wanted to be the President
Senator Chris Dodd is stepping down. I hope it is done in disgrace. This is the man who willfully inserted loopholes in a Senate bill to help the scumbag millionnaire thieves at AIG. Watch this March 2009 admission of guilt by this scumbag.
Boycotting Big Banks
I do not have any New Year’s resolutions. Of all the New Year resolutions I have seen so far, the most novel idea that makes…
Person of the Year, huh?
Time wants us to believe that Bernanke saved us from melt-down, but I think time will tell us a completely different story: Bernanke’s cure is worse than the disease that was ignored even caused/spread by Greenspan’s Fed.
Bombay Sensex was up 81% in 2009
[Photo courtesy: WSJ] The year 2009 saw relentless printing by Uncle Ben. He got more than a bit of manipulative helping hand from the Wall…