Category Banksters

Everyone knows Greece will default. And everyone knows BofA is on its last legs. But no one really knows where the risk is with their trading partners. For example, banks routinely loan each other money overnight. But now they’re getting…

Another corrupt sleazebag goes to prison. His ex-boss, Raj Rajaratham gets sentenced next week. This is a good start. But we need CEOs of the TBTF banks in prison. Then the garbage will really have been cleaned up.

Edward Harrison of Credit Writedowns. I was on BNN this afternoon talking about the Fed running out of ammo, America banks getting downgraded, European banks needing $300 billion in capital, and Greece defaulting on its debt obligations plus a host…

“Orderly default” in Greece? Good luck. It’s not if Greece defaults but when. S&P just downgraded Italy None of the fundamental economic problems in Italy or Europe or anywhere else have been addressed ”¦ let alone fixed. So the problem will…

Not only did a rogue trader at USB lose $2 billion, USB was so comatose they didn’t even discover it themselves. He had to tell them. British authorities are investigating why UBS’s internal controls were so apparently non-existent. Swiss authorities…