Zero Hedge brings us commentary on William Black’s interview with PBS. Take note, this is important. The ever insightful William Black sits down with PBS’ Paul Solman to note that most of the too big to fail banks are currently insolvent, that mortgage fraud is pervasive and lender complicit, and that unlike in previous...
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Posts Tagged ‘ bailouts ’
Recurrent Crises Will Get Bigger And More Disastrous
Goldman Craps Has Largest Profits In History
The WSJ reports: NEW YORK (Dow Jones)–Goldman Sachs Group Inc. (GS) on Thursday delivered its richest quarterly profit in the investment bank’s 140-year history, driven in part because it restrained compensation amid a public outcry about excessive pay. The most profitable bank on Wall Street capped off a record year with quarterly earnings of...
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A Lesson In Moral Hazard – Blaming Capitalism Is Wrong
Why blaming capitalism for the problems of fascist government policy is wrong: It doesn’t take a rocket scientist to figure out that when you back junk sub-prime loan packages with tax payer dollars, lenders have a massive incentive to make outrageous loan deals. The “fraud” is the moral hazard our government created when it...
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