Archives for: Goldman Sachs

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Systemic banking fraud means next crisis will be worse

by Mitch Feierstein about 6 years 5 months ago

Henry Paulson. Hank. Remember him? Of the crisis in 2008, he said: “Where I come from, if someone takes a risk and they’re going to make the profit from that risk, they shouldn’t have the taxpayer pay for the losses.” Quite the wisdom one expects from the 74th U.S. Secretary of the Treasury. Yet, as […]

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Systemic banking fraud means next crisis will be worse

by Mitch Feierstein about 6 years 6 months ago

Remember him?: The risks have not gone away since Hank Paulson was US Treasury Secretary Henry Paulson. Hank. Remember him? Of the crisis in 2008, he said: “Where I come from, if someone takes a risk and they’re going to make the profit from that risk, they shouldn’t have the taxpayer pay for the losses.” […]

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Central Banks – An explosion heard round the world

by Mitch Feierstein about 6 years 8 months ago

Why global central bankers’ great monetary experiment is about to explode. During the past eleven years, we have witnessed unprecedented manipulation of stock, bond, and property prices by global central banks. The inflation of these grotesque asset bubbles will not end well as indicators in the USA point towards an economic recession. For the past […]

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Has the out-of-control cabal of central banks inflated grotesque asset bubbles in global property, stock, and fixed-income markets? Or are we to believe traditional media’s “fake news” mantra of “it’s different this time?” Well, bad news, folks. It’s never different, not this time, not anytime, NEVER.   Capitalism is being destroyed The US Federal Reserve, […]

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We put out one fire but now Mark Carney wants to start another

by Mitch Feierstein about 7 years 4 months ago

Mervyn King’s decade at the Bank of England was a disaster. The Bank was too slack during the long and indisciplined boom, under prepared for the crash and playing catch-up thereafter. The legacy of Lord King’s (and Gordon Brown’s) career has been an economy still limping along far below peak output, real wages caught in […]

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Capitalism Without Bankruptcy is Like Catholicism Without Hell

by Mitch Feierstein about 7 years 10 months ago

Barack Obama was recently on the stump, defending the latest set of lackluster jobs figures. Obama blamed ‘serious headwinds’ including higher gas prices and, more recently, the developing crisis in the Eurozone. Having handed much of the blame to foreign oilfields and European crises, he returned to more familiar ground, bashing a Republican-controlled House for blocking some of the proposals in […]

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An America divided against itself: US debt is way past the ceiling

by Mitch Feierstein about 7 years 11 months ago

Barack Obama made a speech recently pledging his opposition to (yet another) game of chicken over America’s debt ceiling. “This is the United States of America,” he told his audience. “We’re not some banana republic. This is not a deadbeat nation. We don’t run out on our tab. We’re the world’s bedrock investment – the […]

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Volcker Rule: Too Big to Enforce

by Mitch Feierstein about 8 years 3 months ago

As the initial shocks of the financial crisis of 2008-09 began to subside, policy makers – shattered by the scale and velocity of what they had just witnessed – started to think about earthquake prevention measures: how to stop the same thing happening all over again, One of the simplest, and best, such suggestions came […]

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Wall Streets Latest Dirty Little Secret – The Fix Is In

by Mitch Feierstein about 8 years 8 months ago

At yet another select committee recently – they’ve been doing a good job – Vince Cable was grilled about the huge leap in the Royal Mail’s stock market value. As you’ll remember, the firm was floated at 330p a share and traded as high as 600p in November, a rise of 82% in a few […]

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Henry Paulson. “Hank”. Remember him? Lean, balding, the flared nostrils of a man perpetually haunted by the memory of having to clean dog’s mess from the shoes of his neighbour’s children. Of the crisis in 2008, he said, “Where I come from, if someone takes a risk and they’re going to make the profit from […]

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