Author Archives: Yves Smith

After 30 Years of Investing in Private Equity, Washington Decides That It Might Help if Its Board Knew What It Was Doing

Yet more confirmation of the dirty secret of private equity: the investors are way out of their depth.

Calling All Wells Fargo Whistleblowers!

We have published extensive whistleblower reports and encourage former and current Wells Fargo who’ve witnessed sales abuses to contact us.

Are Our Earnings Really Our ‘Just Deserts’?

Why the idea that wages represent “just deserts,” as in the individual’s contribution to social output, is bunk.

The Brexit Rupture Coming Down Under

Now that the Conservatives are showing more resolve about moving ahead with Brexit, even politicians in Australia are changing course.

We’re Past the Point of No Return for Climate Change

On why the case for combatting climate change is more urgent than ever, and what can be done about it.

Don Quijones: Rescue of Italy’s Monte dei Paschi Gets ‘Dark’ & ‘Complicated’

As Monte dei Paschi flounders, details of past chicanery emerge, implicating Deutsche Bank, Normura, the Bank of Italy, and Maro Draghi.

Links 10/5/16

Blackstone Presents New Fee Scheme: Tricky Fees are Dead, Long Live Tricky Fees!

Blackstone’s new, improved fee scheme confirms that any supposed concession to investors need to be viewed with great skepticism.

How Trump and Clinton Gave Bad Answers on US Nuclear Policy….And Why You Should Be Worried

As tensions with Russia rise, neither Presidential candidate gave a straight answer on the use of nuclear weapons.

The Prospects for Technology-Driven Growth: Dismal or Dazzling?

Advanced economies are caught between two giant, competing truths: economic growth is slowing down, and science is flourishing.

Links 10/4/16

Gaius Publius: A Clinton Speech to Millennials That Will Work

What Clinton needs to do to win Millennials.