Tag Archives: Ponzi

Wall Street Insider: 10-15% of the US Economy is fraudulent

In this interview which first appeared at Alternet.com  and was reposted at Salon.com Jim Chanos, famous for shorting Enron and highlighting the fraud at the firm, talks corporate fraud generally and crony capitalism. He makes a number of assertions worth considering regarding the dishonesty on Wall Street, and explains why short sellers are vital to the marketplace. He explains that all the big fraudsters taken down in the past 20 years have been taken down by short sellers or journalists or both, not the regulatory agencies.

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War on the Young Continued

Should generally poor young people be subsidizing often wealthy old people? That’s what happens in our present crony capitalist system.

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