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vampire squid

transcriber's picture

RT video - The Truthseeker: Looting of America

Both Naked Capitalism and New Economic Perspectives among many others have posted this video. It's fast paced, wide ranging, packed with visuals, and has several guests. Here it is with a transcript, packed with some of the visuals for us visual learners: Read below the fold...

twig's picture

Goldman's Facebook Stock Offering: No US Investors Allowed

GS, which was bailed out by US taxpayers not that long ago, has decided to allow only foreign investors to buy shares of Facebook.

The reason for excluding domestic buyers? "The intense media spotlight left the deal in danger of violating U.S. securities laws," says The Wall Street Journal. And we all know how carefully Goldman Sacks toes the line when it comes to securities laws! Read below the fold...

angryfutureexpat's picture

It's The End Of The World As We Know It, And I Feel Fine

Well, maybe not fine, since the global economy is completely, totally, and irredeemably fucked (only a household debt jubilee can save us!). As we've been saying for a while around here, the future holds two decades, or more!, of deflation, defaults, bankruptcy, sovereign restructuring their social program obligations (Note that in the lingo of dominant creditor class, this is called "austerity" instead of "default" because the people they're fucking are poor and middle class). But let's start with a comment from the Economist magazine: Read below the fold...

angryfutureexpat's picture

What A Bailout Is And Is Not: Or Why You Should Run Away From Your Debt

There is a fundamental disconnect among many people about what they think is a "bailout," and what a bailout actually is. This disconnect is well represented by the following bumper sticker. The simple fact is that, with the exception of a couple people who had their notes cancelled by the courts due to fraud, bad faith, a lack of standing, or other misconduct, no mortgage holder anywhere in the United States have ever received a government bailout. Period. Read below the fold...

angryfutureexpat's picture

Lloyd, You're Confusing "America" And "Goldman Sachs" Again

[Welcome, C&L readers! -- lambert]

Charles Wilson, the President of General Motors once famously said during congressional hearings that, as Secretary of Defense, he would be able to make a decision adverse to the interests of GM but that such a situation was virtually inconceivable "because for years I thought what was good for the country was good for General Motors and vice versa". For decades, Charles Wilson has stood alone as the Platonic ideal of corporate whores and douchebags who have no compunction about plundering the public and the Treasury to serve their corporate ends, because, well, hey if it's good for us, it's good for the America. Read below the fold...

Valhalla's picture

Rentsfest!

dakinikat at TC has the lowdown on new credit card company practices designed to evade the few restrictions Congress has seen fit to impose:

Stupid Banker Tricks Read below the fold...

Valhalla's picture

If Women Ran Wall Street Would We Be Looking at Epic Fail?

Over at New Deal 2.0, Nomi Prins, a former Goldman insider, thinks the answer's no:

But, the question is, would the massive bailout of the financial sector have occurred, had women been at its helm? Indeed, Davos economists this year speculated that the presence of more women on Wall Street might have averted the downturn.

She lines up the likes of Elizabeth Warren, Sheila Blair, Brooksely Borne against some of the more prominent vampire squid -- Bernke, Paulson, Geithner, Lloyd Blankfein (of we're doing "God's work" fame) et al and thinks the gender split may be not just coincidental.

Read below the fold...
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