Archives for: Ponzi

Those financial forecasters, like myself, who take a generally dark view of world affairs are known by a number of monikers: prophets of doom, killjoys, pessimists, Cassandras. And that last one is interesting. Cassandra, in ancient Greek myth, was the daughter of King Priam of Troy. After Helen, she was considered the most beautiful woman [...]

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Barclays bankers fiddle the LIBOR markets – a multi-trillion market – on a heroic scale. Other banks and bankers are being investigated too. Barclays will not be alone in its wrong-doing, and other banks may even have exceeded Barclays’ brazen contempt for truth and right-dealing. So what happens? So far, we’ve seen all the standard [...]

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The Lion that Turned into a Rat

by Mitch Feierstein about 2 years 4 weeks ago

What is it? Is it something in the water of Downing Street? Some as-yet-unnamed version of Stockholm Syndrome where the victims fall in love with their captors? Or is hypocrisy in fact a contagious disease? Something passed on by one government to the next, along the with the grace-and-favour mansions and the limousines.   I [...]

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Is This Greek Rescue The Biggest Scam In History or Ponzi Finance 101?

by Mitch Feierstein about 2 years 1 month ago

Don’t you love Europe? The way it messes with your head. The way really, really bad things somehow get blotted out in so much waffle, double-speak and spin, you start doubting your own instincts. Like, is it you or is it them? Take the bold European rescue of Greece. A broad-shouldered continent saving a country [...]

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That Old Sweet Goldman Magic

by Mitch Feierstein about 2 years 5 months ago

Ah, don’t you just love traditions? Hollowing out a pumpkin for halloween. Sitting down to turkey for Thanksgiving. Seeing family and friends around the winter holiday season. And Goldman’s the same. It’s a traditional sort. Once it’s got into a habit – excessive leverage, taking huge risks and disguising them, helping to bankrupt Western capitalism, [...]

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