Submitted by jest on Mon, 02/20/2012 - 10:44am
Submitted by a little night ... on Thu, 10/27/2011 - 9:50pm
Submitted by twig on Mon, 01/17/2011 - 9:39pm
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...
Submitted by angryfutureexpat on Wed, 06/30/2010 - 3:19pm
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...
Submitted by angryfutureexpat on Tue, 06/01/2010 - 1:42pm
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...
Submitted by angryfutureexpat on Thu, 04/22/2010 - 11:09am
[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...
Submitted by Valhalla on Thu, 02/04/2010 - 9:41pm
Submitted by Valhalla on Fri, 12/18/2009 - 7:28pm
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...
Submitted by Valhalla on Thu, 12/10/2009 - 11:25pm