Category recession

Madoff scam. We’re all Ponzi now

Madoff scam dates back to 70s. Why am I not surprised? Plus, he recently told the SEC he had no more than 25 clients when he actually had 4,000. The incompetence and studied ignorance of the SEC is appalling. Sue,…

Let the Dow die

(Astromario image: Pink Floyd Wish You Were Here album cover.) My friend Sharif Abdullah argues that the financial markets– the “red market”– is overrated.  It’s neither the largest nor is it the most important of the five markets he identifies.…

Feeling fleeced yet?

Neatorama has a t-shirt for you As for that $700 billion, it’s sitting in the bank’s coffers. What, you thought the banks would do something even vaguely socially responsible by lending and trying to get the economy moving again? Silly…

Commentary: Capitalist abyss

Arnaud De Borchgrave (who is no leftie) But no sooner was the Cold War over than all restraints were abandoned. In the 1990s Russia’s new capitalist system quickly morphed into Russian organized crime, which went global. In the United States,…

Bleed The World

There’s a world outside your window And it’s a world of dread and fear. Where the only water flowing is the bitter sting of tears. And the Christmas bells that ring there are the clanging chimes of doom. Well tonight…