Skip to main content

Home/ Financial Crisis and Geopolitics/ Group items tagged Even

Rss Feed Group items tagged

thinkahol *

Is the SEC Covering Up Wall Street Crimes? | Rolling Stone Politics - 0 views

  • But even if SEC officials manage to dodge criminal charges, it won't change what happened: The nation's top financial police destroyed more than a decade's worth of intelligence they had gathered on some of Wall Street's most egregious offenders.
  • But we're equally in the dark about another hypothetical. Forget about what might have been if the SEC had followed up in earnest on all of those lost MUIs. What if even a handful of them had turned into real cases? How many investors might have been saved from crushing losses if Lehman Brothers had been forced to reveal its shady accounting way back in 2002? Might the need for taxpayer bailouts have been lessened had fraud cases against Citigroup and Bank of America been pursued in 2005 and 2007? And would the U.S. government have doubled down on its bailout of AIG if it had known that some of the firm's executives were suspected of insider trading in September 2008?
  •  
    Imagine a world in which a man who is repeatedly investigated for a string of serious crimes, but never prosecuted, has his slate wiped clean every time the cops fail to make a case. No more Lifetime channel specials where the murderer is unveiled after police stumble upon past intrigues in some old file - "Hey, chief, didja know this guy had two wives die falling down the stairs?" No more burglary sprees cracked when some sharp cop sees the same name pop up in one too many witness statements. This is a different world, one far friendlier to lawbreakers, where even the suspicion of wrongdoing gets wiped from the record.
thinkahol *

David Graeber: On Playing By The Rules - The Strange Success Of #OccupyWallSt... - 0 views

  •  
    Just a few months ago, I wrote a piece for Adbusters that started with a conversation I'd had with an Egyptian activist friend named Dina: All these years," she said, "we've been organizing marches, rallies… And if only 45 people show up, you're depressed, if you get 300, you're happy. Then one day, 200,000 people show up. And you're incredulous: on some level, even though you didn't realize it, you'd given up thinking that you could actually win. As the Occupy Wall Street movement spreads across America, and even the world, I am suddenly beginning to understand a little of how she felt.
thinkahol *

"Captured Europe" by Simon Johnson | Project Syndicate - 0 views

  •  
    The Greek default has turned out to be the proverbial dog that didn't bark. The lesson for Europe - and for the US - is clear: it is time to stop listening to what banks say, and start focusing on what they do. We must re-evaluate the distorted political economy of the financial sector, before the excessive power of the few imposes even larger costs on everyone else.
thinkahol *

[1112.3095] Evidence of market manipulation in the financial crisis - 0 views

  •  
    We provide direct evidence of market manipulation at the beginning of the financial crisis in November 2007. The type of manipulation, a "bear raid," would have been prevented by a regulation that was repealed by the Securities and Exchange Commission in July 2007. The regulation, the uptick rule, was designed to prevent manipulation and promote stability and was in force from 1938 as a key part of the government response to the 1928 market crash and its aftermath. On November 1, 2007, Citigroup experienced an unusual increase in trading volume and decrease in price. Our analysis of financial industry data shows that this decline coincided with an anomalous increase in borrowed shares, the selling of which would be a large fraction of the total trading volume. The selling of borrowed shares cannot be explained by news events as there is no corresponding increase in selling by share owners. A similar number of shares were returned on a single day six days later. The magnitude and coincidence of borrowing and returning of shares is evidence of a concerted effort to drive down Citigroup's stock price and achieve a profit, i.e., a bear raid. Interpretations and analyses of financial markets should consider the possibility that the intentional actions of individual actors or coordinated groups can impact market behavior. Markets are not sufficiently transparent to reveal even major market manipulation events. Our results point to the need for regulations that prevent intentional actions that cause markets to deviate from equilibrium and contribute to crashes. Enforcement actions cannot reverse severe damage to the economic system. The current "alternative" uptick rule which is only in effect for stocks dropping by over 10% in a single day is insufficient. Prevention may be achieved through improved availability of market data and the original uptick rule or other transaction limitations.
Ride Harry

Get a loan of $ 1500 to pay your rent and other bills - 0 views

  •  
    If you have just moved house then there are a lot of expenses that you are incurring right now. If you need a loan of about $ 1500 to take care of the important bills and rent, is it possible without stress? With traditional loans that would not be possible as there will be a list of formalities to go through and carry out. If you have neither the patience nor the time for it, then apply for loans 1500 online, with lenders or banks. You can borrow the loan for a short amount of time as decided by the lender and then repay when you have money from your paycheck. These loans will not come with the requirement for you to pledge some of your assets or valuables. Since the amount is fairly small, there is no need to place collateral like house papers or jewelry with them. In case you are suffering from any credit related issues like arrears, foreclosures, bankruptcy etc., you may be rejected by traditional lenders. But lenders offering loans 1500 will not turn you down. In fact you will be given a loan without the lender bothering to look into your credit profile. These loans are approved without the lender wanting to know as to how or where you intend to use it. Also there will be no set of instructions as to what you can or cannot do from the lenders end. So you can pay your rent, repaint the house, think about bills to be paid etc., without a worry. These $ 1500 loans are going to be approved without even of the simplest forms of documentation being involved. The details that you furnish at the time of application do not have to be supported by fax copies of your important documents. What this does reduces the processing time and allows the lender to sanction a transfer within 24 hours of receiving the request.
thinkahol *

China stutters on purpose, world freaks out - Chinese Economy, Yuan Revaluation, Chines... - 0 views

  •  
    The danger of depending too much on a Chinese rescue for the global economy: Even planned slowdowns cause panic
Giorgio Bertini

Unjust Spoils - the structural reason for the Great Recession still haunts America is A... - 0 views

  •  
    Wall Street's banditry was the proximate cause of the Great Recession, not its underlying cause. Even if the Street is better controlled in the future (and I have my doubts), the structural reason for the Great Recession still haunts America. That reason is America's surging inequality.
Giorgio Bertini

In Defense of Outsourcing in the Recession - 0 views

  •  
    When the spending bubble popped, it ushered in the era of the incredible shrinking consumer. Demand is weak, and companies are looking to do more with less by stretching their workforce and filling the gaps with cheap labor, even part-timers. Indeed of Brookings' 20 strongest cities have average or below average cost-of-living, and most of those cities have below average wages.
Giorgio Bertini

The Next Global Problem: Portugal - 0 views

  •  
    Europe will eventually grow tired of bailing out its weaker countries. The Germans will probably pull that plug first. The longer we wait to see fiscal probity established, at the European Central Bank and the European Union, and within each nation, the more debt will be built up, and the more dangerous the situation will get. When the plug is finally pulled, at least one nation will end up in a painful default; unfortunately, the way we are heading, the problems could be even more widespread.
Giorgio Bertini

Fears of Euro Zone Domino Effect: Will Greek Contagion Bring Portugal Down? - 1 views

  •  
    Will the Greek malaise spread to Portugal? Fears of a national bankruptcy are now also growing in Lisbon, even though the country is capable of getting its debt under control by itself. The problem is that markets no longer have faith in the Portuguese to fix their own affairs.
Giorgio Bertini

Spain Seen as Moving Too Slowly on Financial Reforms - 0 views

  •  
    Spain risks falling into the same trap as Greece, these investors say, unless it takes more forceful action. It could find itself unable to raise money on the private markets at acceptable interest rates - even though its government debt burden, as a share of the overall economy, is only half what Greece carries.
Giorgio Bertini

Germany, Greece and Exiting the Eurozone - 0 views

  •  
    Rumors of the imminent collapse of the eurozone continue to swirl despite the Europeans' best efforts to hold the currency union together. Some accounts in the financial world have even suggested that Germany's frustration with the crisis could cause Berlin to quit the eurozone - as soon as this past weekend, according to some - while at the most recent gathering of European leaders French President Nicolas Sarkozy apparently threatened to bolt the bloc if Berlin did not help Greece. Meanwhile, many in Germany - including Chancellor Angela Merkel herself at one point - have called for the creation of a mechanism by which Greece - or the eurozone's other over-indebted, uncompetitive economies - could be kicked out of the eurozone in the future should they not mend their "irresponsible" spending habits.
Giorgio Bertini

Euro Rescue Bid: Punish the Markets for their Mistakes! - 0 views

  •  
    Europe has put up 750 billion euros in an effort to stop speculation against the European common currency. Still, it remains to be seen if financial markets will learn their lesson. After all, speculators aren't even being punished for the damage they have caused. But they should be.
Giorgio Bertini

China - Constructive deal - 0 views

  •  
    Iran's nuclear fuel swap deal with Brazil and Turkey could be a positive step forward in resolving the international impasse over its nuclear program. Even as the United States is stepping up efforts toward UN-mandated fresh sanctions against Iran, it is praiseworthy that members of the international community have stuck to diplomatic means to defuse the tension.
thinkahol *

Yes, There Are Ways to Reduce Unemployment and Revive the Economy | Op-Eds & Columns - 0 views

  •  
    As President Obama begins the second half of his term with a campaign for "jobs and competitiveness," we would do well to consider how he might achieve these worthy goals. It is jobs that matter most to the vast majority of Americans, and unemployment remains at 9.4 percent - about double its pre-recession level. This is a terrible punishment to inflict on millions of Americans who did nothing to deserve it. It will cause long-term and even permanent damage to many of the unemployed and their children.
thinkahol *

Record profits and record unemployment: Nothing's trickling down - CSMonitor.com - 0 views

  •  
    The Big Money economy is booming. According to a new Commerce Department report, third-quarter profits of American businesses rose at an annual record-breaking $1.659 trillion - besting even the boom year of 2006 (in nominal dollars). Profits have soared for seven consecutive quarters now, matching or beating their fastest pace in history. Executive pay is linked to profits, so top pay is soaring as well. Higher profits are also translating into the nice gains in the stock market, which is a boon to everyone with lots of financial assets. And Wall Street is back. Bonuses on the Street are expected to rise about 5 percent this year, according to a survey by compensation consultants Johnson Associates Inc. But nothing is trickling down to the Average Worker economy. Job growth is still anemic. At October's rate of only 50,000 new private-sector jobs, unemployment won't get down to pre-recession levels for twenty years. And almost half of October's new jobs were in temporary help.
Giorgio Bertini

Rifts in Europe Grow Wider Over Greece - 0 views

  •  
    Fissures among Europe's currency partners are becoming even deeper and more widespread than was previously evident, raising new doubts about whether the group can resolve the regional debt crisis that has simmered for more than a year.
thinkahol *

Report: Military coup possible in Greece - Hurriyet Daily News and Economic Review - 0 views

  •  
    The U.S. Central Intelligence Agency warned in a report that the tough austerity measures and the dire situation could escalate and even lead to a military coup, according to a report by Germany's popular daily Bild.
Giorgio Bertini

A Country Without Libraries « Learning Political Economy - 0 views

  •  
    All across the United States, large and small cities are closing public libraries or curtailing their hours of operations. Detroit, I read a few days ago, may close all of its branches and Denver half of its own: decisions that will undoubtedly put hundreds of its employees out of work. When you count the families all over this country who don't have computers or can't afford Internet connections and rely on the ones in libraries to look for jobs, the consequences will be even more dire. People everywhere are unhappy about these closings, and so are mayors making the hard decisions. But with roads and streets left in disrepair, teachers, policemen and firemen being laid off, and politicians in both parties pledging never to raise taxes, no matter what happens to our quality of life, the outlook is bleak. "The greatest nation on earth," as we still call ourselves, no longer has the political will to arrest its visible and precipitous decline and save the institutions on which the workings of our democracy depend.
  •  
    This is a new blog.
1 - 20 of 37 Next ›
Showing 20 items per page