Thankfully, plots to hurt civilians have been uncommon in the US. Unfortunately, its fear-inducing replacement isnt much better… a warped willingness to plant “financial weapons of mass destruction, as Warren Buffett famously described derivatives, that we’ve seenleave unprecedented economic damage in their wake.
[Read more...]The SEC May Turn Out to be Goldmans Smallest Problem
April 20, 2010 By Leave a Comment
In a recent Daily Beast article, Charlie Gasparino describes Goldman Sachs as already the most hated investment bank among investment bankers. Perhaps thats so. Throughout its long and storied history Goldman has been the most elite and prestigious firm in a very competitive pool of investment banks. Its not surprising that its success could have ruffled more than a few feathers.
[Read more...]Banks Gave You a Mortgage in Exchange for Your Honor
January 19, 2010 By Leave a Comment
In this thought-provoking clip, The Colbert Report’s Stephen Colbert dissects the real reason behind the mortgage meltdown. It wasn’t a matter of predatory lending, or irresponsible borrowing… it was actually a matter of honor:
“When you signed that mortgage you gave your word, and your word is who you are…
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Government Bailouts By Design
One question surrounding the Occupy Wall Street (OWS) protest is “Why now?” In part, the “corruption” is complex and hard to articulate. Here’s one valiant attempt:
[Read more...]This was a real sign seen recently at the OWS protests…