Hoisted From Comments: First Cut at Perps in Massive Wells Fargo Consumer Fraud
More evidence that regulators had no excuse for not naming, shaming, and at least fining key Wells Fargo execs in its massive consumer fraud.
Read more...Author Archives: Yves Smith
Wells Fargo Fined $185 Million for Opening Phony Customer Accounts, Charging Fees Without Consent; Executives Go Scot Free
Wells Fargo executives make a clean getaway despite the bank engaging in large-scale, systematic consumer fraud.
Read more...Is Fiscal Policy for Prosperity Back in Place of Austerity?
Austerity appears to be quietly going out of fashion.
Read more...Japan Throws Spanner into Brexit Negotiations
Multinationals just weighted in on the Brexit talks, in the form of a letter from Japan’s government.
Read more...Liberty Reserve, Bitcoin, and the US Bank Regulatory Dog That Didn’t Bark
How a toothless US watchdog, FinCEN, has largely ignored money laundering via Bitcoin and other digital currencies.
Read more...Why Behavioral Economics Is Really Marketing Science
Not only do economists ignore the role of banks in their models, they also omit marketing and the malleability of consumer preferences.
Read more...Links 8/26/16
The Newspaper Ad Collapse: Bad News for Readers
A look at the data on the decline of newspapers.
Read more...How Veterans are Victims of Big Pharma
Yves here. While this post makes an important point about the degree to which veterans are targets for opioid marketing, as well as the creation of a large and multiheaded “pain lobby” to promote the idea that pain was undertreated (which may have been true, but not to the degree suggested). However, the article also […]
Read more...Links 8/25/16
Even Matt Levine Feels Compelled to Say Sorta Bad Things About Apollo’s Conduct in $52.8 Million SEC Settlement
Apollo gets nicked by the SEC, but par for the course, not all that badly.
Read more...The Real Scandal of Clinton’s Emails: Conducting Foreign Policy In Secret
A revealing effort to acknowledge that the Clintons are corrupt but contend that it doesn’t matter much because the system is rotten.
Read more...Could a Lithium Shortage De-Rail the Electric Car Boom?
Will lithium be the next plastics?
Read more...Links 8/24/16
CalPERS Board, General Counsel Illegally Silence Naked Capitalism Even as We Try to Help
CalPERS’ general counsel lied obviously and casually to the board, a sign of a deeply diseased institutional culture.
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