POMO stands for permanent open market operations by the US federal Reserve Board. With a POMO, the Fed buys the US Treasury debt and pumps liquidity into the system. The idea is that the money freed-up from holding US Government bonds will be put into use in boosting the spending and thereby the economy. In […]
“We are doing God’s work,” said Llyod Blankfeign of Goldman Sachs. In 2008 Goldman saved its existence by converting itself into a regular bank. They are still classified as a deposit institution. But a bulk of what they do is investment banking and trading. Most of their profits come from proprietary trading. In other words, […]
“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 […]
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 […]
Stock markets, if they are as free as advertised, NEVER GO UP in a straight line like this (Chart courtesy Jesse’s blog) There is indisputable evidence that the US treasury, the Federal Reserve bank and the select few banks on the Street are engineering this market surge on low volume. Now, the Government plans to […]
This one comes to you via courtesy of Zero-Hedge: The Scamming Of Investors Continues, Courtesy Of The Rumormill Formerly Known As The Equity Market 1) Somebody (wink wink) spreads a rumor that shorting government-owned companies will be banned. Citi is one of these companies. 2) Rumor spreads, causing AIG, C, FNM and FRE to skyrocket. […]
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 […]
