The reason Madoff was crucified is that the hypocrites need: 1) to vent their frustrations 2) a personal scapegoat, and 3) a public scapegoat So crucifying Bernie is a 3-fer. What should have happened was Bernie got 50, Geithner got 50, Paulson got 50 (3-way split) and Summers got the chair. Speaking of Ponzi schemes, [...]

This popular mantra of the age of conspicuous consumption must truly be the hardest habit to shake in the breaking of America’s particular “U. S. of A-ness”. It got us into this mess and it’s going to keep us there. Obama and his look-the-other-way Dream Team are doing literally nothing about ratings fraud, the inherant [...]

This is the most important news that everyone should be focused on for hope that the near term regulatory changes being considered can be steered in the right direction. Volker’s medicine might be a little painful, but without it, the Administration’s current position of sustaining the derivative leveraging stands no hope of recovery from this type of situation which is another way [...]

Since Bloomberg has a habit of changing or losing part of the text in their articles after they get “the call”, I’ll just quote the relevant text from the article here: The e-mails show that the Fed “engaged in a cover-up and deliberately hid concerns and pertinent details regarding the (B of A – Merrill) [...]

The few who can understand the system will be either so interested in its profits, or so dependent on its favours, that there will be no opposition from that class, while, on the other hand, that great body of people, mentally incapable of comprehending the tremendous advantage that Capital derives from the system, will bear its burden without complaint and, perhaps, without even suspecting that the system is inimical to their interests.

After doing a lot of link pruning (despite the fact that many fine blogs are blocked at my primary workplace) I think I have finally rounded up an excellent group of information sources whose authors seem to really “get it”.  If you just run through the latest post from each of these a sort of “big picture” [...]

It’s no coincidence that the multi-level marketing scheme known as AMWAY got its name from a shortened moniker of the American Way. Some parallels in the evolution, growth and eventual decline of the well known American icon are worth noting: 1) You deserve to “get rich quick” without working very hard because you know the “secret to success” formula of [...]