Take a look at Fraudonomics and Fun Fraudonomic Facts by Mark Ames in New York Press. I’m surprised that these are the first articles I have seen to spell out clearly what’s been obvious to me for a few weeks now after reading tons of material on synthetic CDOs that has come to the surface [...]
Archive for April, 2010
The United States of Fraud
Posted in Bonfire of the Vanities on April 30, 2010 | 1 Comment »
Song of the week: Sidecar
Posted in Songs of the Week, speedhair, tagged albedo effect, free-riding, sidecar, speedhair on April 29, 2010 | 1 Comment »
Hooray I’ve upgraded my blog so I can post audio. This is a song about free-riding and the general lackadaisical state of culture in 2006 when the song was written… The forgotten displeasures aren’t so forgotten at the moment, but if some observers are correct Big Finance will be back to its usual tricks within [...]
Go Habs Go!
Posted in Uncategorized on April 28, 2010 | Leave a Comment »
Leave it to the Canadians to defeat Washington!
Postcard from the Edge
Posted in Uncategorized on April 28, 2010 | Leave a Comment »
From “Out of the Black Hole”, an article by Michael Greenberger, a professor at the University of Maryland School of Law and a former division director at the U.S. Commodity Futures Trading Commission, that appeared on April 26th, 2010 in The American Propect. “Unregulated OTC derivatives have been at the heart of systemic or near [...]
Storm Cloud on the Event Horizon: The Final Upload
Posted in Financial Collapse?, Zoltar, tagged Apocalypse, black hole, event horizon, Greece, politics, Zoltar on April 28, 2010 | 1 Comment »
I must admit the whole European meltdown is happening much quicker than I, a staunch pessimist, would have thought. I guess we can chalk it up to markets being incapable of waiting. All the articles that I read about the crisis were suggesting that the $45 billion euro bailout package by the IMF and the [...]
Is Goldman Short on Obama?
Posted in Uncategorized on April 27, 2010 | Leave a Comment »
So this is where we are at. To be clichéd, the more things change the more they stay the same… It’s just that this time around the stakes are much higher. The global economy is dangerously interdependant on finance and IT and the leaders of America and Europe are terrified by the outcome of this [...]
Like a Greecy Pork and Cheese Sandwich Served Up in a Dirty Ashtray
Posted in What's a Grecian Urn?, tagged Apocalypse, Bailout, Bible, Conflagration, Greece, politics, Power on April 26, 2010 | 3 Comments »
The World is once again standing uncomfortably close to the edge of the abyss that was so narrowly avoided in 2008 when Lehman’s collapsed. If you don’t have vertigo..you are really not paying attention. No one knows for sure what will happen when (and it is when) Greece defaults. Will Portugal, Spain and Ireland follow? [...]
What the Frack Part Deux: Quebexaco
Posted in Frack Off!, tagged environment, gas, hydraulic fracturing, Quebexas, shale rock on April 26, 2010 | Leave a Comment »
Gas production via hydrolic fracturing IS coming to Quebec. Whatever the government says about respecting the environment is a load of poutine. There is no clean way to fracture shale deposits. It doesn’t mean we should not do it. But the Quebec Government should at least stop being hypocritical with their postering on energy. If [...]
If Goldman Sachs Burns Will America Follow?
Posted in Bonfire of the Vanities, tagged Baseline Scenario, Goldman Sachs, Oligarchy, politics, S.E.C., Tipping Point on April 24, 2010 | 2 Comments »
Read how America has become a Banana Republic With No Bananas. I’ve been wondering for months how come Americans are not marching in the streets with pitchforks and torches, ready to burn down Wall Street.. Apparently that time has come…minus the pitchforks and torches..for now… After reading “The Sickening Abuse Of Power At The Heart [...]
History doesn’t repeat itself – at best it sometimes rhymes. – MarkTwain
Posted in Bonfire of the Vanities, What's a Grecian Urn?, tagged 1930s, Depression, Greece, Mark Twain on April 23, 2010 | Leave a Comment »
Today at Naked Capitalism, Yves Smith compares the news that Greece is broke and needs a 45 billion euros bailout (60 billion U.S.) with the collapse of Creditanstalt, an Autsrian bank that collapsed in 1931 when markets thought a sustainable recovery was underway.. “The news about Greece’s bailout has me thinking a lot about Creditanstalt, [...]
