Finally we are seeing some cops on the Wall Street. From AP: WASHINGTON (AP) — The Federal Bureau of Investigation has raided three hedge funds linked to a broader insider-trading probe, law enforcement officials said Monday. Bureau employees searched the New York offices of Level Global Investors LP, and the Stamford, Conn. headquarters of Diamondback […]
Folks who know about Tesla might see this as no surprise. For those of us not in the “Know”, Toyota is collaborating with TESLA , the super electric car maker. The result is RAV4 EV with 100 MPG. This was demoed two days back in LA autoshow. Check the video below. Do you buy one […]
Via Zero Hedge: While America is entertained by a rather realistic cartoon of what happens when the Fed (semantics aside) prints money with which to buy up whatever assets it so chooses, and launders the cash for the Primary Dealers (a topic discussed ad nauseam on Zero Hedge), we present a rather more somber and […]
In this post, I want to write as little as possible. Hope the seriousness is conveyed. Pay no attention to stock market. Debt markets are smarter than equity markets. Right now, the municipal bond market is taking a “shellacking.” Imagine a large California defaulting on its debt obligations. That is where this is headed. I […]
Remember the phrase “giant vampire squid wrapped around the face of humanity” that described Goldman Sachs? The man who phrased this apt description of the biggest vulture on Wall Street has come out with another investigative piece on FraudClosure Gate. Friends – you have to read this piece and see how corrupt this system has […]
Well, well, well – who would have thunk that the communist China is dispensing more truth about the precarious and fragile nature of the US financial situation? This is not a joke – (via Zero hedge) Dagong has downgraded the local and foreign currency long term sovereign credit rating of the United States of America […]
Those who are active on the Indian movie scene might have heard about the block-buster release of the south Indian movie Robo that came out recently. It was starred by the popular Tamil star Rajanikanth. Vinoo is a good friend of mine. He usually watches Rajanikanth’s movie in the first week of the release, but […]
More on this loony action by Bernanke, the crackpot No 2 (No 1 was Greenspan) later. For now , check this pic, which I stole from the Big Picture Blog:
In Yesterday’s US elections, 54% of the voters were concerned about the economy and their own jobs. Only 7% were concerned about health care. Is there any surprise why there so much anger towards politicians and the banks? [I will post something on election results later.] If you are an unemployed person, you already feel […]
Eenadu sunday edition (10/31/2010) published an excellent article on the great Chanakya . Click on the photo to read it. Super article which is relevant to today’s issues. Comment away. Via Eenadu.
In his Interview with Jon Stewart, President Obama complimented Larry Summers, “Heck of a job, Larry.” As I said several times on this blog, Mr. William Black has been one of the best sources of information for me in the last several years. He weighs in on the President’s vote of confidence in Summers – […]
Did you watch the much anticipated interview of Obama on the Daily Show last night? The President had his own ‘Heck of a job, Brownie’ moment. I said several times, President Obama lost me the moment he appointed Summers to the economic team. Recap – Summers is a Wall Street crony and he was the […]
Is more stuff is about it hit the fan again? FDIC chairman Sheila Bair weighs in on Fraudclosure gate. (Via Reuters) (Reuters) – The foreclosure mess won’t be cleaned up quickly and could hurt the housing market, which is already a weak link in the economic recovery, regulators said on Monday. Sheila Bair, head of […]
The Wall Street elite have no empathy for the road-kill they ran over while driving drunk. This mess has the signature of Alan Greenspan and the Wall Street banks all over it. No further commentary needed. Just watch and cry.
Many of the MMGL listeners would know, in the 2008 election, I voted straight down the democratic ticket. In less than 10 days, America goes to polls for the mid-term. Obama lost me when he appointed Summers and Geithner to his economic team. For two years, he has been more a functionary than a revolutionary. […]
