Category Archives: Ridiculously obvious scams

CalPERS Used Sleight of Hand, Accounting Tricks, to Make False “There is No Alternative” Claim for Private Equity

CalPERS staff and outside experts went to considerable lengths distort data and abuse analytical methods to make the case that only private equity could offer the allegedly superior returns needed to meet CalPERS’ targets. The fact that CalPERS did not make an honest case for private equity suggests that no honest case could be made.

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Antitrust Incompetence from the FTC, as Albertson’s/Safeway Divestiture Goes Awry

Over the past several months, I’ve come to the conclusion that so many problems in our politics and our economy results from our tolerance of monopoly capitalism. I did a super-long story for The American Prospect laying this out, and how we need a revival of antitrust policy at the grassroots level. Here’s a depressing case study that suggests maybe we should just relieve one of the antitrust enforcement agencies, the Federal Trade Commission, of its duties.

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Exclusive: Are the SEC’s Mary Jo White and Her Husband Teaming Up to Gut Corporate Disclosure and Make It Harder to Fight Fraud?

The heart of the SEC’s mission is disclosure, providing enough information to investors so they can make reasonable choices about stock and bond offerings. Without disclosure you don’t really have an SEC, and you put investors – and potentially the whole economy – at risk. But the commission is striving to hit that self-destruct button, by allowing new rules that would make it much easier for companies to hide their activities. And it’s highly likely that this reaches all the way to the office of SEC Chair Mary Jo White.

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