THIS WEEK’S HEADLINES:
- First Quarter 2011 Economic Report Card
- Global Economic Monitor
- Events of Interest
- May 18, 2011: International Trade Outlook
Tag: financial institutions
Could Goldman Sachs Fail? | The Baseline Scenario
Intellectually speaking, the bankers have no clothes. Unfortunately, the officials in charge of making policy on this issue are still unwilling to think through the implications; capital requirements need to be much higher.
.
The Economic Data Global Express (e-EDGE) | LAEDC
This Week’s Headlines:
- February U.s. Labor Market Report
- Top Ten U.S. Counties by Employment
- Global Economic Monitor
- Events of Interest
- April 28, 2011: San Gabriel Valley Economic Partnership: Economic Outlook Breakfast
- May 18, 2011: International Trade Outlook
Confusion Over Fate Of Inflation Reaches All Time Record: Are Bonds Actually Wrong? | zero hedge
This means that either consumers and bonds are at record odds over how they view the inflationary environment in the future, or that there is no real bond market in the short end
Confusion Over Fate Of Inflation Reaches All Time Record: Are Bonds Actually Wrong? | zero hedge.
Ben’s in a Bind | zero hedge
For the vast majority of American’s QE has been a dismal failure. Stock gains for the average guy were offset by losses in real estate. There was no wealth affect there.
Warren “…the Osama bin Laden of capitalism” Buffett Challenges Goldman Sachs | Dealbreaker
“If the U.S. Armed forces can’t find Osama bin Laden in 10 years, let Goldman Sachs try to find me.”
January/February 2011 SBA Advocate Newsletter | SBA
Volume 30, number 1
The Small Business Advocate is a periodic newsletter that details economic developments and regulatory trends related to small business as well as the latest initiatives of the Small Business Administration’s Office of Advocacy.
In This Issue
Executive Order 13563 to Improve Regulatory Review, 1
Text of E.O. 13563, 6-7
OSHA Withdraws Two Rules, 1
Startup America Launched, 2
Rodgers Appointed Deputy Chief Counsel, 11
New Advocacy Staff, 11
Message from the Chief Counsel
Small Business Talks; Advocacy Listens, 3
Research Notes
Small Business Economy Released, 2
Legislative Focus
Freshmen Senators Schooled in Small Business Values, 4
Regional Report
Nine Regional Advocates in Place, 8-10
Regulatory News
IRS Modifies PTIN Rule, 12
Financial Rule Delayed, 5
Major Clark Receives Public Service Award, 5
Required Reading: How To Fake An Economic Recovery | Niethercorp Press
‘You can take the blue pill and wake up in your bed and believe whatever you want. Or you can take the red pill and see how far down the rabbit hole goes…’ That line from ‘The Matrix’ applies to this piece by Giordano Bruno. If you’re having a tough time wondering how the stock market can go up while people are losing jobs and homes, this will give you something to hang your hat on.
WARNING: You can’t unlearn this information.
This may be a highly distasteful proposition, but just for a moment, I want you to sit back, and imagine that you are a member of the corporate banking elite. You are a walking talking disease ridden power mad pustule who naively believes himself intellectually superior to the vast majority of humanity and above the inherent laws of conscience, honor, and general good taste. You are a villain in the purest sense, in that you not only do great harm to the world, you actually SEEK to do great harm to the world, if only to benefit yourself and your exclusive circle of “friends”; a clan of degenerate blood thirsty sociopaths with delusions of omnipotence that stalk the night like Armani wearing Chupacabra exsanguinating the joy from poor unsuspecting cultures. You are capable of anything, and sadly, you take “pride” in this fact…
.
Why Isn’t Wall Street in Jail? | Rolling Stone Politics
…the justice system not only sucks at punishing financial criminals, it has actually evolved into a highly effective mechanism for protecting financial criminals. This institutional reality has absolutely nothing to do with politics or ideology — it takes place no matter who’s in office or which party’s in power. To understand how the machinery functions, you have to start back at least a decade ago, as case after case of financial malfeasance was pursued too slowly or not at all, fumbled by a government bureaucracy that too often is on a first-name basis with its targets. Indeed, the shocking pattern of nonenforcement with regard to Wall Street is so deeply ingrained in Washington that it raises a profound and difficult question about the very nature of our society: whether we have created a class of people whose misdeeds are no longer perceived as crimes, almost no matter what those misdeeds are.
John Paulson’s Interview With The Financial Crisis Inquiry Commission | zero hedge
John Paulson, head of the hedge fund that made the ‘Greatest Trade Ever Made’ netting billions in just one day by shorting the subprime real estate finance market, testified before the Financial Crisis Inquiry Commission. This summary of his testimony makes interesting reading and is instructive of the forces at work in the collapse
“If ACA and IKB or Moody’s didn’t like the ~100 subprime reference securities we helped pick for the deal, they could have…not bought the deal or – get this – replaced them with ones they liked better…I couldn’t have gone short if they hadn’t gone long, they agreed on the reference portfolio, it got rated, boom, done” It sounded like he just wanted to say something like “Hello morons?! This is how Finance works, HELLOOO!!!”
The article also contains a link to audio of the testimony.
Dispatches From The Front 
