[Phoenix Capital Research, Via Zero Hedge.] This is a chart of the US monetary base. In simple terms, it charts how much money the Fed has pumped into the system (at least that it admits). So it’s a kind of visual of the Fed hitting the PANIC button: when the monetary base explodes higher, the […]
There is a widespread notion among mental health professionals that most MBAs from Ivy-league level schools are either sociopaths or narcissists. And many of those ‘sociopaths’ who are also finance majors gravitate towards careers at Wall Street financial firms. I do not go so far as asserting this belief as truth. However, I will not […]
The following is from the US Attorney Preet Bharata’s complaint against Don Chu, who was arrested this week on insider trading charges. The Tech Company Inside Information On July 20 and 21, 2009, during the time when Lee was cooperating with the Government’s investigation, CHU facilitated a consultation between Lee and an individual (“CC-1”) who […]
With current financial turmoil entering its fourth year, it is time to reflect on things that got us here. Today Ben’s bandits at the Fed announced that they will buy US debt (“in small quantities”, yeah – right!) to stimulate the weakening economy. Call this quantitative easing 2 or plain old printing, it only means […]
Enough Said. (Hat tip to the Big Picture Blog)
The Senate just passed a stupid bill and called it financial reform. [via CBS Marketwatch] The mammoth legislative package — which passed 59 to 39, with three Republicans voting for the bill — requires “too-big-to-fail” banks to install new capital restrictions and divest their derivatives units, sets up a government board to assign credit raters […]
Says who? James Galbraith, son of legendary James Galbraith. Well, this is a late realization for my fellow academic. For at least 14 years I have been saying, “Real world is a special case for the economists.” Here is an insightful testimony to be given to Congress by Galbraith: (via Alternet) Why the ‘Experts’ Failed […]
Ladies and gentlemen, this is what speaking truth to the power looks like. Watch William Black’s congressional testimony. While he was ripping Lehman, Fuld was sitting right next to him. This testimony is for the history books.
