The US government representatives have decided not to reform the financial system. No surprise. It was the richest that made the most from teh credit bubble of the 1990s/2000s and then got bailed out by the government rescue packages when the financial system imploded. Why would they want to make it more difficult for themselves? …
Continue reading No system change at the top. It’s up to you.
Category:3 The World of Money
Bankers stole your money.
The evidence has been revealed. The bankers and investment managers that were looking after your cash in 2007, stole it. As the mortgage market crashed, the insiders sold the market short, and their clients. The US Senate subcommittee has released more emails proving our conjecture made in 2007/2008 that the fiduciaries/regulators knew of the problems …
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Bankers crashed the economy.
It wasn’t just bankers, we all played a part. But top of the list of immoral players are fiduciaries. The US Senate Subcommittee investigating the financial crash of 2007/8 highlighted emails by top investment bankers who were short selling the mortgage security market as it declined, while publicly obfuscating the hole in the financial system. …
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The internet, like money, is used for evil as well as good.
It is sad news. The internet is facilitating trade in endangered species. I like the internet and I like nature, so it is painful to see that headline. Of course, the internet, like money, is not evil, but can be used for evil as well as for good. It reflects the values of the people …
Continue reading The internet, like money, is used for evil as well as good.
The King’s New Clothes – Market abuse by fiduciaries unacceptably high.
It’s still the same old story. Despite economic recession, trillions of your euros, dollars, clams being spent to prop up the financial system, the prevalence of abuse by fiduciaries has not declined. Bankers, stockbrokers, insurance companies, the whole lot of them (except, of course, the few with integrity, like you – ha ha) continue to …
Continue reading The King’s New Clothes – Market abuse by fiduciaries unacceptably high.
Repo 105 – it’s still out there.
A report on the Lehman Brothers bankruptcy came out today. It’s ancient history really, because to happened a year and a half ago. But it’s relevant today to remind us of the obfuscation that we endure from banks, politicians, the boss and others. Simply put, Lehaman fudged its financial performance by selling assets prior to …
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Wikinvest
A kind of open blog on financial markets. Worth a browse. Wikinvest
FT/alphaville
A good source of opinion on financial markets. FT/alphaville
Asia-Pacific exchanges overtake Europe
The value of trading on stock exchanges in the Asia-Pacific region overtook that on European rivals last year as markets rallied in the wake of the credit crisis. Read the FT story here.
GDP is obsolete.
A easy read article from Time magazine describing why the way we measure performance is primitive and unhelpful: Is GDP An Obsolete Measure of Progress? Since last summer the nation’s Gross Domestic Product (GDP) has gone up — indeed, it grew at a surprising 5.7% rate in the 4th quarter — seeming to confirm what …
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