How You Finance Goldman Sachs' Profits by Nomi Prins


This is perhaps the most important thing I learned over my years working on Wall Street, including as a managing director at Goldman Sachs: Numbers lie. In a normal time, the fact that the numbers generated by the nation's biggest banks can't be trusted might not matter very much to the rest of us. But since the record bank profits we're now hearing about are essentially created by massive federal funding, perhaps it behooves us to dig beneath their data. On July 27, 10 congressmen, led by Rep.

Looking for the Lenders’ Little Helpers (about mortgage fraud)

Looking for the Lenders’ Little Helpers

Dismantling the Temple

Temple= the US Federal Reserve
By William Greider
from the August 3, 2009 edition of The Nation. July 15, 2009

The Fed As Super Duper Regulator? Will We be Duped Again?

 By L. Randall Wray

     Treasury Secretary Geithner is floating a plan that would consolidate more power in the hands of the Fed. The idea is that because it failed so miserably over the past decade to recognize a series of asset bubbles and growing systemic risk, it should be placed in charge of assessing and controlling systemic risk. You've got to love the logic. Could it have anything to do with the fact that Geithner came from the NY Fed where he used to cozy-up to Wall Street banks?

"Flip That House" Fraud was Widespread

By Michael Braga, Chris Davis & Matthew Doig
Staff Writers

Published: Sunday, July 19, 2009 at 1:00 a.m. 
Last Modified: Saturday, July 18, 2009 at 6:40 p.m. 

Fraudulent property flipping ran rampant during this decade's housing boom, with $10 billion in suspicious deals in Florida alone, a Herald-Tribune investigation has found.

Texas Straight Talk: Fed Independence or Fed Secrecy?

From Representative Ron Paul

Last week I was very pleased that hearings were held on the independence of the Federal Reserve system. My bill HR 1207, known as the Federal Reserve Transparency Act, was discussed at length, as well as the general question of whether or not the Federal Reserve should continue to operate independently.

The Creative Destruction of G8 Economics

 13th July 09 - by Steve Keen, of the West Sydney University Australia   Adbusters 

The most important thing that the global financial crisis has done for economic theory is to show that neoclassical economics is not only wrong – it’s dangerous. 

The 110 year-old clue: Thorstein Veblen and the Wall Street/GM Bailouts by techno

Thu May 28, 2009 at 11:50:33 AM PDT

on why the USA auto industry bailout is so different from the bailout of Wall Street.

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