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Tag Archives: Wall Street

Undercover tape emerges. Surprise! The Fed and Goldman Sachs work hand in glove.

One of the problems with the attached article is that it implies that the reason Goldman pulled the things it did and does is because the Federal Reserve, the regulator, wasn’t and isn’t strong enough to curtail Goldman’s power.

The Fed is plenty strong. Far too strong in fact. What the author doesn’t appear to get is that in this instance we don’t have a case of “regulatory capture” per se. The Fed doesn’t kowtow to Goldman Sachs. The Fed and Goldman, and JP Morgan etc., are partners and always have been.

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CNBC: The glaringly obvious guide to the next crash

People are starting to get sketched out on Wall Street. The market is wobbly this morning. The Alibaba IPO (which did well) has people looking around wondering what’s next. Europe slowed last month. China continues to slow. India’s SENSEX was down almost 2% today. The Ebola “worst case scenario” just jumped from 500,000 to 1,000,000. And we just started bombing Iraq and Syria.

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Obama: Change Will Come If Corporate Lobbyists Work Harder To Pass My Agenda

(From The Daily Caller)

“Well, I think — here’s what’s interesting. There’s a huge gap between the professed values and visions of corporate CEOs and how their lobbyists operate in Washington,” Obama said. “And I’ve said this to various CEOs. When they come and they have lunch with me — which they do more often than they probably care to admit (laughter) — and they’ll say, you know what, we really care about the environment, and we really care about education, and we really care about getting immigration reform done — then my challenge to them consistently is, is your lobbyist working as hard on those issues as he or she is on preserving that tax break that you’ve got? And if the answer is no, then you don’t care about it as much as you say.” -Barrack Obama

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Study: Insider trading is widespread (I am shocked, shocked!)

There is actually a pretty good case for the idea that insider trading should not be illegal. That information is information and that sales or purchases of stocks based on such information just makes the market more efficient.

That aside it is still illegal and that means if you and I were to engage in it we might go to jail. For others however this does not seem to be a concern.

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