Category Archives: Ridiculously obvious scams

US Officials Make Non-Bailout Bailout of Silicon Valley and Signature Bank and Continue Class Warfare

An over-zealous Fed pushed a few banks, including the big and super connected Silicon Valley Bank, over the edge. A bailout was a given.

A Feminist Demand on International Women’s Day: Fire Victoria Nuland

If feminists support this Bush-era neocon simply because she is a woman, Victoria Nuland might just burn down the world in a nuclear fire.

Crypto Bank Silvergate to Shut Down and Liquidate, After FDIC Examiners Show Up. Shares Collapse Entirely

Silvergate: In 16 months from $239 at peak crypto consensual hallucination to $2.76, including the 44% plunge afterhours.

“How Stupid Do They Think We Are?” Nord Stream Pipelines Bombing Edition

Shameless Nord Stream spin.

Rail Workers Warn Safety Bill Loopholes Are Big Enough to ‘Run a Freight Train Through’

Post East Palentine rail safety reform proposals are embarrassingly unserious.

Salve Lucrum: The Existential Threat of Greed in US Health Care

A big reason US health sucks is that the government refuses to crack down on abuses like price gouging and billing games.

How Private Equity Bribes Public Pension Fund Officials: Subsidized/Fund-Paid Lavish Travel and Entertainment

Yet more private equity corruption! And see how little it costs to buy the assent of public pension fund employees.

Hubert Horan: Can Uber Ever Deliver? Part Thirty-Two: Losses Top $33 Billion But Uber Has Avoided The Equity Collapse Most “Tech” Startups Experienced

An update on Uber financial fakery and continued lack of bona fide profits.

Jim Chanos: The Golden Age of Fraud in Finance

Famed short seller Jim Chanos discusses the ever-rising role of fraud in the US financial system and his views of China.

The Government Makes a Profit on Defaulted Student Loans

The Federal government’s unheard of profits on defaulted student loans confirms that the scheme is predatory. And defaults are set to rise.

Public Pension Funding Average Now Below 50%, Yet Beneficiaries and Press Stay Mum

That light at the end of the public pension fund tunnel is the headlight of the underfunding train bearing down on them.

‘Absolute Hypocrisy’: GOP Unveils Bill to Make Trump Tax Cuts Permanent While Howling About Debt

The point of the debt ceiling melodrama is to give fiscal hawks another whack at budget-cutting. Tax increase are therefore off the table.

CalPERS’ Refusal to Put Clearly Insolvent Long-Term Care Insurance Plan in Bankruptcy Increases Harm to Policyholders and Makes Board and Responsible Executives Liable

CalPERS continues to behave badly.