Shady NZ shell company merchant GT Group’s global footprint just keeps growing, as do its links to the dreamy nonsense that is the “Maharal Network”. In our latest global tour, let’s visit Romania and Moldova first, via Ukraine and New Zealand.
Friday, October 31, 2014
ves here. The excuse that Deputy Attorney General Juan Cole offered for DoJ’s failure to prosecute financial fraud, that they were overmatched by “rocket science” isn’t just pathetic, it’s a flat out lie. I know people personally who were experts in mortgage backed securities and collateralized debt obligations who offered not just their expertise, but specific legal theories to state attorneys general, as well as members of the famed Mortgage Fraud Task Force and were ignored. Individuals with similar skills offered to train the SEC and were also turned down. The idea that prosecutors and regulators were up against complicated technology above their pay grade is a self-serving canard. They were repeatedly offered ways to get down the learning curve and rejected them.
Today’s Water Cooler: 2014′s desperate Democrats, 2016′s prospects, protests in Ferguson and Hong Kong, good news on ebola, and map geekery
Posted by Lambert Strether at 6:55 am |
One of Teddy’s Roosevelt’s famed sayings was “Speak softly and carry a big stick.” The SEC seems to be hoping that speaking loudly and brandishing a water pistol will be as effective.
Silicon Valley labor law violator LinkedIn has a vision — “the Economic Graph” — and it’s sponsoring a $25,000 contest to find “researchers, academics, and data-driven thinkers” to help them make it a reality. Here’s the vision in short form: There are approximately 3 billion people in the global workforce. LinkedIn’s vision is to create […]
There’s no capital investment in America or Europe. We’re living on the corpse of the economy that was left in 2008.
Tom Englehardt Interviews Laura Poitras on Snowden and the Total Information Capture Approach to Surveillance
Yves here. This interview with Laura Poitras is a reminder of how the world has, and more important, hasn’t changed since the explosive revelations made by Edward Snowden less than a year and a half ago. Even though his disclosures produced a great uproar, with demands in the US, UK, and Europe for explanations and […]
Gretchen Morgenson filed a must-read story on the range and some of the consequences of the private equity fetish for secrecy. The short version is that if the private equity industry had nothing to hide, they wouldn’t be hiding it.
Even so, Morgenson’s story is certain to be an eye-opener to readers fresh to this topic and has important revelations for even those who’ve been on this beat for a while.
Bill Black takes a blowtorch to Paul Krugman’s straw men.
Topics: Guest Post
Posted by Lambert Strether at 1:55 am |
Posted by Yves Smith at 6:55 am |
Yves here. This post by Steven Horn about that shows the typical terms of an oil and gas rights lease for American Energy Partners buries the lead, in that Steve needs to give the context of how the lease came to be public before he turns to explaining how the lease rips off the party who signs it. Among other things, it requires the homeowner to have any mortgage made subordinate to the royalty agreement, something no lender will agree to. If the homeowner can’t get the subordination (a given), no royalties will be paid! As you’ll see, there are other “heads I win, tails you lose” terms in these agreement.
Yves here. This post presents some of the CIA’s less-than-proud moments, curiously omitted in a recently-published history of the CIA’s meddling in the Middle East, juxtaposed with some of its more recent miscues.
Today’s Water Cooler: Yellen on income inequality, ebola gets a czar, Hong Kong, Ferguson, and how not to catch a cold.