Wells Fargo Screws Customers Yet Again, Now Failing to Make Right on Abuses; Elizabeth Warren Demands Answers
Wells Fargo is still up to no good…
Read more...Author Archives: Yves Smith
Monopoly Now Wants You to Cheat—Just Like Real Capitalists
Bad monopoly behavior, both in the classic game and in real life, are ever more in vogue. But a backlash has begun.
Read more...A Transatlantic, Transpacific or Eurasian Global Economy?
Which nexus – Transatlantic, Transpacific or Eurasian– is likely to dominate global trade?
Read more...Wolf Richter: Big Reset Looms for Corporate Credit Market
Collateralized loan obligations and other risky corporate credit assets are trading at tight risk spreads despite stock market upheaval. What gives?
Read more...Links 2/14/18
Financial Markets Have Taken Over the Economy. To Prevent Another Crisis, They Must Be Brought to Heel.
A detailed and well-argued explanation of how the growth in the role of financial markets has become destructive.
Read more...Private Equity Firms Turn Up Noses at Trump’s Infrastructure Headfake
A perverse bit of good news: PE firms don’t like Trump’s infrastructure scheme.
Read more...Government Shutdown Once Again Shows the Lies Behind Deficit Hysteria
How the wealthy use deficit scaremongering to keep wages down and stave off calls for more investment and social spending.
Read more...Links 2/13/18
An Aetna “Fake Accounts” Level Scandal? Medical Director Admits He Never Reviewed Medical Records Before Denying Care
An Aetna medical director said he didn’t review any cases, a bombshell admission even for one doctor, and damning if a normal practice.
Read more...After Carillion, Can Capitalism Clean Up Its Act? Or Will Marx Have the Final Word?
Will Carillion and other pending outsourcer blow-ups finally put Thatcherism in its grave? And will the US have a similar wake-up call?
Read more...Cryptocurrencies Don’t Make Sense
How cryptocurrencies do a poor job of delivering on their supposed purposes.
Read more...Why CalPERS’ Private Equity Outsourcing Scheme Is Likely to Hurt Returns
Why CalPERS’ private equity outsourcing scheme is likely to leave the funds’ beneficiaries and California taxpayers worse off.
Read more...CalPERS Let New Fox in the Private Equity Henhouse: Silicon Valley Fixer Wilson Sonsini
Why Wilson Sonsini’s not-obvious role at CalPERS is another red flag for CalPERS’ private equity outsourcing scheme.
Read more...Gaius Publius: More on the Cape Town, South Africa, Water Crisis
Cape Town is becoming ground zero of water scarcity….a future that will arrive for many more in the coming decades.
Read more...