The Age of Regulatory Capture Millions of Americans lose their homes and jobs, Wall Street devours trillions in government bailouts while its leaders pay themselves billions . . . and there’s still no discussion of meaningful financial reform? Incredible. Here’s a quote from one of the best Op-Ed piece I’ve seen this Summer, contrasting the...Read More
Goldman Sachs: ‘Bad, But Not the Worst’ Based on the drivel I’ve read the last six weeks, I’m convinced that if Matt Taibbi had chosen to rail against, say, the mayor of Sodom & Gomorrah — instead of Wall Street and its undisputed kingpin, Goldman Sachs — the same pack of apologists would have jumped...Read More
Michael Lewis on Goldman Sachs “The Aristocrats” is one of those iconic (and very off-color) jokes that every comedian of a certain stature feels compelled to put their own comedic imprimatur on. In fact, the movie of the same name is nothing but a collection of famous comedians telling exactly the same joke, in their...Read More
After Almost a Year, The Fog Lifts Maybe it’s just me, but it certainly seems as though, almost one year after the financial system’s September, ’08 “heart attack,” some clarity and consensus are emerging about exactly what happened, and why. If you’ve been on a desert island, read Robert Wilmer’s excellent “Where the Crisis Came...Read More
Goldman to Clients: You Shouldn’t Have Trusted Us If you didn’t know, Realtors’ owe their clients a fiduciary duty. What does that mean? Actually, quite a bit. The legal definition of fiduciary duty has two components: a duty of loyalty, and a duty of care. By definition, your Realtor knows more than you do about...Read More
And Then There Were Two Goldman and Morgan were assisted in a rather violent industry consolidation. They remain, more than ever, officially “too big to fail” (TBTF), so they know they can always request tax funds directly from the Treasury Department and elevate risks above competitors. With their enormous profits they can buy out any...Read More
