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 […]
I came across this news from CNN which is part of CNN HEROS. I was touched by Narayanan Krishnan’s story. Read the article before watching the video. If you can spare a minute or two please go to CNN Heros site by clicking here and vote for Krishnan. Here is the touching part from the […]
Decimal or binary, it won’t make much of a difference – of course, ‘my 01 cents’ is ‘my two cents.’ I could add more, but that is where digital piracy is taking some of my (rather large) investments. Earlier on TeluGlobe, Krishna Chaitanya posted an excellent article on digital piracy and its effect on the […]
Question: How do you solve alcohol addiction? Answer: Give the addict heroine! Don’t laugh – this is the solution of the US Federal Reserve Board for more than two decades. Bill Fleckenstein is a savvy investor, fund manager and an analyst. A decade ago, I had the pleasure of interacting with him on Silicon Investor […]
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The Smart people at Google never fail to surprise us on April 1st. This is funny. A different kind of company name 4/01/2010 12:01:00 AM Early last month the mayor of Topeka, Kansas stunned the world by announcing that his city was changing its name to Google. We’ve been wondering ever since how best to […]
Tax evader and Treasury Secretary Geithner is singing “I understand your pain” mantra. దెయ్యాలు వేద మంత్రాలు వల్లించడం అంటే ఇదే. Take a look. Visit msnbc.com for breaking news, world news, and news about the economy MIT’s Simon Johnson – break those big banks:
Now, try to take this image out your mind. This is how I see these banks in their current form. My question is, do leeches produce any blood? What value does a bloated financial sector has in the economy? I would say, it is a negative value. Volker agrees with my take. (via NY Times): […]
MapQuest® 4 Mobile brings over a decade of digital mapping experience to your iPhone® with unique features to help you get where you’re going. Try Voice-Guidance, our latest addition to Driving Directions, for a more hands-free experience! Few people know that MapQuest actually produced paper maps prior to becoming an Internet icon. In the future, […]
In another blow to equality, the Supreme Court has revoked the Andhra Pradesh High court’s decision and re-instated the 4% reservation to Muslims. Chief Justice KG Balakrishnan opined that when socially and educationally backward societies in the Hindu community are availing of the reservations, the same can be extended to similar groups in the Muslim […]
What I am reading on the blogs is not at all encouraging to the bulls. Currently, stock market in United States and many European exchanges is completely deserted by many true ‘investors’ and even by many traders. This is a market held up by a) lack of significant selling, b) interventions by governments and major […]
Interesting article on high speed rail and the unwanted and unintended effects it might have. I wasn’t sure if the Teluglobbers ( 🙂 ) will find it useful. Please leave a comment if you do/not. It’s fast, it’s efficient and it is the future of transportation, but will high-speed rail cause sprawl? Yes, it could, […]
