Category Banksters

Here’s a tip to banksters. Loaning money to and buying debt from countries you know are in financial trouble often means they won’t be able pay you back. Loaning them money so they can pay back earlier loans is a…

Let’s be clear. The only reason EU wants to lend money to Greece is so Greece can pay back earlier loans. EU big banks and central banks then would not have to mark-to-market the toxic slop on their books. This…

Cringely deftly dissects the real problem with American business; the short-sighted greedy idea that goosing the stock price is what is best for the company. This Randian idea leads to deranged business “strategies” like using profits to buy back stock,…

Greeks are pulling money of Greek bands into cash at an accelerating rate and also transferring it to offshore money market funds. Monday is crunch day. Will Greece fold, agree to ECB “austerity (AKA “impoverishment”) or do a Grexit from…

In our deranged world of predatory capitalism, the only way for a proper money laundering bank to make money is to fire 20% of its employees then hope this somehow magically turns into higher profits which in turn mean increased…