Category Archives: Corruption

The insatiable greed of Capitalist banks and other institutions in America dooms us to one of the hardest crashes of any nation as energy resources decline. The rampant fraud in all of our institutions comes at a time when the political system needs to be reinvented towards a steady-state, sharing one. It’s probably too late, but any success at all towards staying under the depletion curve by restricting immigration and women to one child would lessen social chaos and suffering in the future. So far we’ve been staying under the net energy curve by pushing over half of Americans into such desperate poverty they can’t afford to drive as much, or at all, and live with less food, heating, air-conditioning, and other goods. How is a nation of individualistic, obese, out-of-shape and unhealthy people going to shift from fossil fuel power to muscle power in less than a decade?

Banks still gambling on illegal Collateralized Loan Obligations (CLO)

Banks Cling to Bundles Holding Risk APRIL 19, 2014 GRETCHEN MORGENSON New York Times Some $431 billion worth of C.L.O.s currently exist. The Volcker Rule doesn’t go into effect until 2015, but that hasn’t stopped big bankers and their supporters … Continue reading

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Fannie & Freddie started the mortgage crisis

Reckless Endangerment. How outsized ambition, greed, and corruption led to Economic Armageddon 2011 by Gretchen Morgenson and Joshua Rosner This book makes the case that Fannie & Freddie started the mortgage crisis and then Wall Street got in on the … Continue reading

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Tax avoidance

8% of the global financial wealth of households is held in tax havens, 75% of which goes unrecorded Gabriel Zucman. July 6, 2013.

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Gordon Long Extend & Pretend

Gordon Long has interesting ideas about what’s going on and how to invest accordingly.  I don’t agree with all that he writes, but what he has to say sure is interesting and a good overview of the incredibly widespread corruption … Continue reading

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We’ve been “Bankalized” Banks rule and always will

Ilargi Nov 8, 2010 I read an article Ashvin Pandurangi, our by now greatly valued roving reporter, sent me, entitled “Plutocracy Now”. Ashvin writes about that first notion I was pondering: the nationalization of US banks, though for him it’s … Continue reading

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Back-Office Blues  Nov 8, 2010. James Surowiecki. The New Yorker. In the late 1960s, Wall Street was crippled by an unlikely nemesis: unfinished paperwork. Thanks to a booming stock market, trading volume had soared in the course of the decade; … Continue reading

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Why do people fall for Ponzi and other schemes?

Fooled by Ponzi (and Madoff). How Bernard Madoff Made Off with My Money  Dec 23, 2008. Stephen Greenspan. There are few areas of functioning where skepticism is more important than how one invests one’s life savings. Yet intelligent and … Continue reading

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Let banks fail, says Nobel economist Joseph Stiglitz

Feb 2, 2009 The Government should allow every distressed bank to go bankrupt and set up a fresh banking system under temporary state control rather than cripple the country by propping up a corrupt edifice, according to Joseph Stiglitz, … Continue reading

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Wall Street’s version of capitalism is a fraud wrapped inside a delusion

Demerit-Based Pay Feb 5, 2009. Eric J. Fry. Rude Awakening Russia, according to Winston Churchill, was a “riddle wrapped inside an enigma.” Wall Street’s version of capitalism, according to us, is a fraud wrapped inside a delusion. The fraud is … Continue reading

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Your Bank is NOT Safe

PublicBankingTV : Your Money Is Not Safe in the Big Banks August 25, 2013 by Ellen Brown This 13 minute video explains the situation well, a couple of points made: In 2014 the FDIC can only cover .25% of deposits and … Continue reading

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