Michael Olenick: Update Confirms That Share Buybacks Are Still Corporate Suicide
Reconfirming the findings of a study that debunked some key claims about the supposed benefit of stock buybacks.
Read more...Category Archives: Ridiculously obvious scams
SEC Knifes Its Whistleblower Program
Just when you think the SEC can’t possibly to more to demonstrate how toothless it is, it reinforces its sorry reputation in by gutting its Dodd-Frank mandated whistleblower, and worse, in a manner that Commission Kara Stein suggest is illegal.
Read more...Richard Murphy: Stock Markets Look Ever More Like Ponzi Schemes
Why is it entirely sensible to regard stock markets as Ponzi schemes.
Read more...Women (and Men) of the World, Unite! How to Stand Up to Extremist Orthodox Jews Who Demand You Give Up Your Airline Seat
In the last week, there have been two incidents of women relenting to pressure from airlines to give up their seats to accommodate Orthodox Jewish bigots who refused to be seated next to them. This should be as unacceptable as Klansmen asking blacks to change seats. And let us stress that the ugliest feature of […]
Read more...Naked Capitalism Readers Issue Scam Alert For Amazon’s “Become Our Freight Shipper” Scheme
Amazon isn’t satisfied with creating modern day sweatshops via its warehouses. It wants to suck the capital and labor of the not-so-savvy entrepreneur wannabes into its maw.
Read more...Koch Money and the Unflappable Economist
Mirowski on the Koch brothers scandal at George Mason University.
Read more...How Cynical Is the Democratic Party’s Support for Identity Politics? (Plus a Note on the Ocasio-Crowley Contest)
Another case study of Democratic Party hypocrisy.
Read more...Some Public Pension Funds Give KKR a Wet Noodle Lashing Over Toys ‘R’ Us Collapse
Not surprisingly, action in the wake of private equity investors Bain, KKR and Vornado stiffing Toys ‘R’ Us workers of their severance have generated more press than restitution. But some of the ideas bruited about would have real teeth.
Read more...Will Investors Like CalPERS Fall for Private Equity’s Long-Lived Fund Con?
Beware of the private equity “innovation,” the long-lived or “permanent capital” fund. It is virtually guaranteed to short change investors on returns needed to compensate for the longer holding period.
Read more...Leaked Memo by Larry Sonsini Shows Sonsini and CalPERS Violating Fiduciary Duty With Proposed Private Equity Outsourcing Scheme
A leaked memo written for CalPERS by Silicon Valley attorney Larry Sonsisi not only reflects poorly on him and CalPERS, but also validates concerns about corruption.
Read more...Finally: SEC Frets about Share Buybacks, “Torrent of Corporate Trading Dominating the Market” and “Short-Term Financial Engineering”
Mirabile dictu, a Republican SEC commissioner criticizes stock buybacks….
Read more...McKinsey’s and CalPERS’ Ignorance and Sleight of Hand on Private Equity
McKinesy and CalPERS appear to be kidding themselves at least as much as the general public on the subject of private equity.
Read more...Jim Chanos on Fraud: “Cryptocurrency Is a Security Speculation Game Masquerading as a Technological Breakthrough”
The legendary short seller Jim Chanos in a wide-ranging discussion of financial frauds, starting with cryptocurrencies: Bitcoin is the last thing he’d want to own in the event of a catastrophe.
Read more...Private Equity Kills Toys R Us, Workers Get No Severance
Toys R Us stores will shutter this month: private equity firms killed the company, and its workers are left with no severance.
Read more...Unsafe At Any Speed Redux, Self-Driving Cars, and Legal Liability
Senators seek information on testing protocols for self-driving cars; mandatory arbitration for further lawsuits involving such vehicles looms as a threat.
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