So basically a small group of bankers (Summers, Paulson, Rubin) that saunter back and forth between private and government jobs, along with regulators (Greenspan, Bernanke, Geithner, SEC, etc) - who don’t really regulate - created a situation where the US taxpayer would foot the bill when the bank’s had finished their shenanigans. Check out the interview with William K. Black, the article about Brooksley Born’s attempt to regulate the CDS market, and other similar articles. Oh and by the way, Fannie and Freddie are about to pay $210 million in bonuses.
Those are just a few picks from the past week’s reading list at news.tradersnarrative.com. Follow the link below to get much, much more:
- FASB’s Mark-to-Market Ruling
- A Few Drops Don’t Make the Glass Half Full
- Geithner’s Plan is worse than nationalization
- Fine-Tuning Candlestick Trading: Combine Moving Average Techniques
- The Regulatory Charade
- One Secret to Life Success
- MIT Blackjack Team perspective on the financial crisis
- 6 reasons I’m calling a bottom and a new bull
- I helped build the bomb that blew up Wall Street
And remember to check regularly since there are new links added everyday.
Lawrence Summers Comments on Jobs, Economy:
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