Libor Lies Revealed in Rigging of $300 Trillion Benchmark

the Lie in LIBORNo – we’re not making this up.

According to Bloomberg By Liam Vaughan & Gavin Finch – Jan 28, 2013: “The benchmark rate for more than $300 trillion of contracts was based on honesty. New evidence in banking’s biggest scandal shows traders took it as a license to cheat.” Graphic: Bloomberg Markets Continue reading

Kathleen Furey v. SEC: Wow, Just Wow!

Posted by Larry Doyle, SENSE ON CENTS on May 16, 2013

CORRUPTION SOCFor those with an interest in learning how our financial regulators fail to perform in upholding both the law and their duty to protect investors, the SEC is “the gift that keeps on giving.

As if we did not already know that the SEC has all too often failed to protect investors, let’s navigate and learn about the case of current SEC employee Kathleen Furey. From a recent complaint brought by Ms. Furey against the SEC: Continue reading

David Stockman: “We have a far worse fiscal situation…”

The Daily Capitalist
Stockman On Budget And Downgrade
By Jeff Harding August 11th, 2011

This is an interview of David Stockman on Bloomberg Radio today by Kathleen Hayes. David goes into the budget crisis and the downgrade. As usual he pulls no punches. “We have a far worse fiscal situation….by 2012, 2013, 2014… the deficit situation is going to be dramatically worse and our ability to cope will be almost non-existent….”

This is an excellent interview on Bloomberg Radio which can be heard  Continue reading

Bloomberg Profiles “The Big Short’s” Michael Burry

“Bloomberg Risk Takers” profiles Michael Burry, the former hedge-fund manager who predicted the housing market’s plunge. He forecast that the bubble would burst as early as 2007, and he acted on his conviction by betting against subprime mortgages. The former head of Scion Capital LLC was profiled in Bloomberg columnist and bestselling author Michael Lewis’ book “The Big Short”.  http://www.bloomberg.com/video/72756316/

http://www.bloomberg.com/video/72756316/
“Ironically, I’m in this book, ‘The Big Short,’ but I’m not a big short. I don’t go out looking for good shorts. I’m spending my time looking for good longs. I shorted mortgages because I had to. Every bit of logic I had led me to this trade and I had to do it. And I had to pull back on equities, because I saw what was coming I thought would affect everything.” Continue reading