naked capitalism

Anonymous says:

http://www.hermes-press.com/real_history.htm

M.G. says:

Is this nakedcapitalism or End or replace capitalism?

a says:

Any currency option traders here? EUR/GBP’s march to parity looks too perfectly scripted. Are they any large options for the end of the year with barriers at parity?

Anonymous says:

ruetheday,

People are much more interested in the small scale fraud being perpetrated in Illinois than the massive fraud of a hedge fund.

It is much easier to understand someone calling people names and shaking down money.

ruetheday says:

http://biz.yahoo.com/ap/081218/madoff_scandal.html

———–
U.S. Attorney General Michael Mukasey removed himself from the probe because his son, Marc Mukasey, is representing Frank DiPascali, a top financial officer at Madoff’s investment firm. The Justice Department refused to say when Mukasey became aware of the conflict but confirmed he was removing himself from all aspects of the case.
—————

Frank DiPascali was one of the “three people with keys to the 18th floor” where the Ponzi Fund was run.

doc holiday says:

A Cat, hanging by a thread, obviously is a metaphor that relates to Schapiro as The New change for SIFMA … I mean The SEC. How nice to see another example of nepotism, lobbying and crooked, twisted political manipulation, as yet another cat slips through the cracks and into a position to take advantage of political opportunity.

What a great example of bait and switch for the people that were conned into voting for the nebulous concept of change, which makes me question if it was a verb or noun that Obama had in mind with his meaningless rhetoric.

Change as a verb: To substitute another or others for; exchange for something else, usually of the same kind: She changed her shoes when she got home from the office.

Change as a noun: The substitution of one thing for another: We finally made the change to an oil-burning furnace.

>> I like the idea that Obama used the process of substitution to switch out The idiot Cox with a SIFMA cheerleader, a women who understands exactly what SIFMA needs in terms of aggressive lobbying and specific results from Obama and Congress. No lack of clarity, she is connected to the machine and there is simply no doubt who she will serve.

SIFMA lobbied successfully (once again) for change and now, this successful mafia-like entity which helped engineer our current systemic financial collapse, will have one of its very own inside the chicken coup, thus — iit would only be fair to see the sign above The Hen House, changed from, The Investor’s Advocate to: SIFMA – The Powerful Voice of the Securities Industry (God Damn It)!

See Also: The Securities Act of 1933 is also known as the “Truth in Securities Act” or the “Federal Securities Act” and is often shorted to the “1933 Act.” Its goal is to increase public trust in the capital markets by requiring uniform disclosure of information about public securities offerings.

To ensure that the SEC remains non-partisan, no more than three Commissioners may belong to the same political party. The President also designates one of the Commissioners as Chairman, the SEC’s top executive. However, the President does not possess the power to fire the appointed commissioners; a provision to ensure the independence of the SEC. This issue arose during the 2008 Presidential Election in connection with the ensuing Financial Crises.

mxq says:

RE: Pettis…He cites Krugman jumping in on the trade imbalance debate…it seems like more and more serious economists are trying to figure out the end-game for this massive trade imablance.

DanyBoy says:

Outstanding conclusion stated sardonically! Good read:

FED Unleashes Greatest Bubble of all.
-John Kemp
Reuters

http://blogs.reuters.com/great-debate/2008/12/17/fed-unleashes-greatest-bubble-of-all/

“Bizarrely, Bernanke and Co are in fact inviting investors to bet the policy will fail, the economy will remain mired in slump for a long period, deflation will occur and interest rates will remain on the floor, as Japan’s have done since the 1990s.

Buyers of real estate and subprime securities have recently been lampooned for foolishly overpaying at the top of the market. Bernanke and Co are gambling memories will prove short and investors will prove just as eager to pay top prices for long-term government and private debt even though the downside is large.

Let us have one last bubble, and when it collapses, we promise not to do any more in future…honest.”