JP Morgan Chase $2bn Trading Loss
Still messing around with Credit Default Swaps? SERIOUSLY??
Haven’t these people learned ANYTHING?
No wonder they are lobbying so hard against increased regulation - can’t stop that gravy train….
About Freakin' Time
I know this isn’t a binding vote, but it should nevertheless be treated as a serious wake-up call.
Hopefully, this is the beginning of a trend….
Corporate Bullsh*t Generator
Is this definitive proof that it really is all bullish*t??
Why I am Leaving Goldman Sachs...
With all deference to Matt Taibi’s “Vampire Squid” commentary, it looks like Goldman Sachs continues its decline….
Some Careers Aren't Coming Back
Great Article by Zachary Karabell at the Huff Post on the harsh realities of the “new” economy - depressing but required reading!
Standard & Poor’s and Other Ratings Agencies Must End Their Power Trip
Great Article by Zachary Karabell
It amazes me how quickly people forget that these agencies are the same morons who were handing out AAA ratings on garbage mortgages just a few years ago.
They are the ones who should be under scrutiny to prove that they have cleaned-up their act - NOT the other way around!!
Wall Street: Brush Up Your Melville
Great Article by Carla Seaquist at The Huffington Post on how Wall Street chooses to ignore the question of risk (easy when there’s a blank check to bail you out!).
6 months ago - 
4 -
4 - Banks Quietly Ramping Up Costs to Consumers
Great Article by Eric Dash at the NYT.
If only banks would put as much effort into helping customers as they do into fleecing them! How is it morally justifiable to add fees on the grounds of lost revenue from charges that were borderline criminal to begin with?
“Dear Mr. Customer - because the Govt took away our right to manipulate the order of your debit transactions to maximize the overdraft charges we can hit you with, we are left with no alternative but to raise fees - and since you seem to be a little irked about that, we are going to have to do that under the radar”
Asking them to devote some creative thinking to making better use of all the money they are apparently having difficulty lending - would seem to be asking too much.
Do they ever read the surveys that tell them that their loan application processes are bureaucratic, non-sensical and often totally arbitrary? Spend some time and money on that why don’t you? Oh, wait, they don’t want to do that either - that’s why the CFPB is going after the HUD closing statement to make it easier for all the non-astrophysicists out there to actually understand it.
6 months ago - 3 -
3 - Who Killed the Economy? Accounting Parasites
Excellent op-ed by Bob Burnett - couldn’t agree more!!
7 months ago - 56 -
56 - How to Stop the Drop in Home Values
Excellent Op-Ed piece in today’s NYT from Harvard Economics Professor Martin S. Feldstein.
Not the most palatable proposal, but it makes sense - of course, since it requires spending $$$, it will go absolutely nowhere in the current Tea Party driven paranoia of Washington
7 months ago - 5 -
5 - 
