Wall Street Journal: ‘Blame the Regulators’ Chutz-pah′: killing your parents, then throwing yourself on the mercy of the court because you’re an orphan. So, according to The Wall Street Journal, who’s to blame for the still-missing $1 billion of client funds at now-bankrupt MF Global? Not the company’s senior management, led by CEO Jon Corzine,...Read More
Is That Like Charlie Sheen “Winning?” John Paulson, one of the winners of the subprime crisis, is having a bad year. Investors are showing unusual patience. –“Despite Losses, Investors Stick With Paulson“; The New York Times (11/2/2011) Did you know that the housing bust has also had big “winners?” People like hedge fund titan John Paulson,...Read More
“Nice . . . uh, Gig?!?” In 1998, I was gleaning the want ads and found a position for a Private Chef for a family…. I am presently one of 9 employees who work at their house. The place is huge and it is just the 2 of them. I cook dinner only 6 days...Read More
Wall Street – Washington “Do-Si-Do” If the SEC prosecuted bank robbers . . . . –98% would get away with it, scott-free; –the ones it apprehended would sign a cease-and-desist letter “neither admitting nor denying guilt,” and pay a civil fine of 2¢ for every $1 they stole. –the bank robbers so chastened would wait six months (maybe) before ....Read More
Goldman Sachs Deserves “Capital” Punishment So, Goldman Sachs stands accused of having pocketed billions from its massive short against the housing market — and lying about it to Congress. How is it defending itself? Watch carefully. Legal Semantics — Not a Denial The company is not saying, “we didn’t do it” — even though that’s sure what it sounds...Read More
Why Goldman Sachs Should Hire Matt Taibbi The most the Securities and Exchange Commission could exact from serial transgressor Goldman Sachs — for what appeared to be blatant fraud that netted the firm billions — was a measly $550 million fine last Summer. By contrast, in just one day of trading (yesterday), Matt Taibbi’s latest Rolling Stone...Read More
