Read at your own risk. May cause the hopium feeling to dissipate quickly and leave you feeling in despair.
Comments »Monthly Archives: July 2012
Peregrine CEO’s Dramatic Confession
“The head of collapsed brokerage firm Peregrine Financial Group Inc. admitted to defrauding clients out of more than $100 million over nearly 20 years by personally doctoring bank statements and duping auditors with the help of a post-office box, federal prosecutors said Friday.”
Comments »Fraud Should Equal Jail Time…..No?
Just another example of how most fraudsters that help to cause the 2008 debacle got away scot-free.
Comments »PAUL KRUGMAN: Alan Simpson Is ‘All Wrong’ And Today’s Conventional Wisdom On Economic Policy Is ‘Basically Stark Raving Mad’
RIM Found Liable for Patent Infringement; Court Orders a $147 Million Fine
U.S. Considering Criminal Charges in Libor Case
“WASHINGTON (Reuters) – The U.S. Justice Department is building criminal cases against severalfinancial institutions and their employees related to the manipulation of interest rates, The New York Times reported on Saturday.
Citing government officials close to the case who spoke on condition of anonymity, the Times said traders at Barclays Plc were among the individuals against whom Justice was building cases. Authorities expect to file charges against at least one bank later this year, the newspaper reported.”
Comments »With Little Liquidity in Banking, the Wealthy Turn to the Pawn Shop for Loans
Lending is in short supply. Pawn shops are seeing a boom in business…as much as 10 percent per annum over the past 5 years.
Comments »Big Ag Causes Bladder Infections in Women
BATH SALTS STRIKES AGAIN: THIS TIME FOR THE SAKE OF HOME DECOR
“I’ve never seen anything like it,” said Lt. Mike Monsrud of the Fridley Police Department. “Where someone breaks into someone’s house, changes the locks and then starts doing home repairs on the house, which makes this case even more bizarre.”
The owners called police.
When officers went into the home and found the woman in the closet, they say she refused to come out.
“She would not speak to officers at all,” Monsrud said. “The only thing she would keep repeating is that she’s a female and that we don’t have a right to touch her.”
Comments »Sylvester Stallone’s Son Dead at 36: Drug Overdose
3 Year Old Mugged, While in His Stroller, in Brooklyn
Things are getting so rough in the Big Apple that even toddlers are getting mugged.
A cruel thug ripped a $400 gold chain off the neck of a 3-year-old boy who was sitting in his stroller and being pushed by his mom in Bedford-Stuyvesant in Brooklyn on Tuesday, law-enforcement sources said.
The crook and an accomplice attacked tot Harvey Hernandez in the lobby of his family’s Malcolm X Boulevard apartment building at 11:45 p.m. after following him, his teenage brother and mom Riyana Guerrero home from a Laundromat.
“I was screaming ‘Let go of my baby! Let go of my baby!’” the mom told The Post in Spanish yesterday.
Pethokoukis: Did the 2009 Stimulus Really Perform Just as Team Obama Expected?
I, and others, have given the Obama administration a lot of flack for its early 2009 prediction that its $800 billion stimulus plan would drive the unemployment rate to under 6% by 2012. The fact that unemployment is over 8% might lead one to conclude that those fancy economic models with their Keynesian multipliers were wrong.
But Obama supporters defend the forecast by arguing that White House economists were basing that prediction on incomplete numbers that didn’t reflect the true severity of the downturn. Once the data were revised, White House economists seemingly made more accurate predictions.
Read the rest here.
Comments »Industry Hybrid Movers (Weekly Change)
Anthony Weiner’s Dick Longing to Make a Return to Public Life
NEW YORK CITY — Is Anthony Weiner still considering running for mayor?
The disgraced Congressman, who was forced to step down following an online sex scandal, appears to be quietly ramping up campaign activity, new campaign filings submitted Friday show.
Read the rest here.
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Effects of Offshoring on Home Employment and Skill Upgrading
Offshoring continues to be a controversial issue in many developed countries. This column provides evidence from Japan and argues that policymakers should not worry too much about the loss of jobs; while unskilled jobs are offshored, they are replaced with skilled jobs, leading to a more productive use of the domestic labour force.
Read the article here.
Comments »Abolish College Football
For the good of both universities and athletes, we should end the NCAA cartel and get high-level football and basketball off all college campuses, not just Penn State…. What the NCAA does is fundamentally abusive: it holds the wage for minor league football and basketball players down to zero, under the pretense that its workers are students.
Read the article here.
Comments »JPM Will Likely lose 7.5 Billion On Botched Trades
Comments »JPMorgan’s chief investment office has lost $5.8 billion on the trades so far, and that figure may climb by $1.7 billion in a worst-case scenario, Dimon, the bank’s chairman and chief executive officer, said yesterday.
How Your Chicken Dinner Is Creating a Drug-Resistant Superbug
Want some painful burning upon urination? Pick up some E. coli from your chicken dinner.
Continuing to treat urinary tract infections as a short-term, routine ailment rather than a long-term food safety issue risks turning the responsible bacteria into a major health crisis.
Read the rest here.
Comments »With Ego Too Big to Fail, Iowa Broker Admits 20-year Fraud
(Reuters) – Russell Wasendorf Sr, arrested on Friday, confessed to a 20-year fraud at his now-bankrupt Iowa brokerage, saying business troubles and his “big” ego left him no choice: “So I cheated.”
Read the article here.
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