A Billion-Dollar Bank Fraud in Moldova, and 20,000 Opaque British Corporations
The role of UK Partnerships in a $1Bn bank fraud in Moldova
Read more...Category Archives: Ridiculously obvious scams
Carlyle, Apollo, Blackstone Cheat Private Equity Investors with Legal Fee Ruse
Another day, yet another private equity exposé, this one on an atypically simple-minded scam.
Read more...Mathew D. Rose: Why the US Will Have to Clean FIFA’s Augean Stall
Having the US do the cleanup on FIFA exposes how lax prosecutors were elsewhere, above all in Germany and Switzerland.
Read more...New Brunswick: How the Scammers Behind Virgin Gold Mining Corporation Found a Really Soft Touch
By Richard Smith It’s high time for an update on this vast fraud story, which has, near its core, Bryan Cook and Thomas Yi, of bogus international investment bank London Capital. Here’s a synopsis of the story so far at NC, and the global press coverage that has ensued. First, there was “Is Power8, Sponsor of […]
Read more...CalPERS Admits It Has No Idea What It is Paying in Private Equity Carry Fees
We are not making it up. Private equity limited partners like CalPERS have no idea what they are paying in carry fees, one of the biggest costs they incur.
Read more...Memo to Readers: If You Want to Beat Big Finance, You Need to Be Able to Take the Fight to Their Terrain
We are now 35 years into a finance-led counterrevolution. If you care about income inequality, student loan debt slavery, foreclosure abuses, and other products of the success of this effort, it behooves you, as Sun Tzu urged, to understand your enemy.
Read more...The Shafting, Um, Sharing Economy
The Wall Street Journal, of all places, describes the dark economic underbelly of Uber and other Orwellianly-named “sharing” services.
Read more...Good News on TPP, as Senate Passes Fast Track Bill with Human Trafficking Poison Pill
Revenge is a dish best served cold. Senator Bob Menendez just served an even bigger plate than he intended via an amendment to Obama’s Fast Track bill that thanks to some Republican help, didn’t get modified into mere symbolism. Ooops!
Read more...More on the Myth of Outsourcing’s Efficiency
Why outsourcing winds up producing cost creep over time.
Read more...Belvedere Management and its $16Bn: Now Looking More Like a Huge Collapsing Scam
As the regulatory actions accumulate, Belvedere Management looks less and less like a maligned fund manager, and more and more like a giant fraud. How much of the $16Bn it purported to manage is left?
Read more...Private Equity Standard-Setter Confirms That Investors Have No Idea What Firms Charge Them
Investors keep their heads deeply in the sand as far as the true cost of investing in private equity is concerned.
Read more...Fast Track/TPP: The Death of National Sovereignty, State Sovereignty, Separation of Powers, and Democracy
How the TPP, if passed and implemented, would create profound governance changes in the United States without benefit of the constitutional amendments that would normally be required to accomplish such changes.
Read more...John Helmer: Ukraine Readies Itself for War When No One Wants to Pay for It
The IMF is finding it hard to put enough lipstick on the pig of financing Ukraine.
Read more...MSNBC’s Egalitarian Krystal Ball, and Her Husband Jonathan Dariyanani, Star of Numerous International Pump and Dumps
A shallow dive into the financial dealings of Krystal Ball of MSNBC and her husband Jonathan Dariyanani
Read more...Quick Note on Slavery, Finance, Minsky, and the Panic of 1837
Looking at slavery from the financial perspective, 1837 looks a lot like the Crash of 2007 – 2008.
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