Corruption

Tyler Durden's picture

Guest Post: Kyrgyzstan: Business, Corruption and the Manas Airbase (Part 3 Of 3)





Kyrgyzstan’s mass anti-government protests last week were essentially the culmination of more than a decade of disillusionment and dissatisfaction that accumulated in the nation’s political, economic and social spheres from the period of Akayev to his successor Kurmanbek Bakiyev, with virtually every Kyrgyz concerned about rising prices and falling standards of living, both issues of little concern and dimly understood in Washington.

 
Leo Kolivakis's picture

A Culture of Corruption?





David Loglisci, who was Hevesi's chief investment officer at New York's state pension fund, has agreed to dish to investigators for Attorney General Andrew Cuomo on a culture of corruption that existed in the office.

 
Tyler Durden's picture

Columbia Prof Who Called Argentina Crisis: "Corruption Is The Reason Italy Will Be Next"





Columbia's Charles Calomiris, who predicted the Argentina sovereign debt crisis (not sure which one: do people actually keep count?) was on Bloomberg TV spreading some more logic, first as pertains to those satanic monsters better known as CDS traders with the following piece of brilliance - "the CDS market always requires two parties in any transaction." This is something that everyone tends to forget. Unlike stocks or cash bonds, where the whole concept of Zero Sum is somewhat murky (especially in naked shorting) in derivatives it is precisely that - one man's loss is another man's gain - no exceptions. Why is nobody scapegoating those traders who enable the speculators to exist? If you raise the CDS offer high enough nobody will buy - we could just as easily blame the CDS sellers for their stupidity and willingness to take on capital losses. But as the whole topic of CDS speculators is pretty much a dead horse at this point. Calomiris also points out another obvious feature of the Greek speculator raid: "the spreads that we saw in Greece at their worst in the CDS market were about 4%. Based on what we know from the history of sovereign crises given the current fundamentals in Greece if anything that is a very muted response in the market. I would have expected a much greater response and I think we will see a much greater response..." Second, Calomiris says that the next country to fall after Greece will be not Spain, but Italy - the reason: massive governmental corruption.

 
Tyler Durden's picture

With Not Enough Plain Vanilla Corruption Out There, The SEC Is Now Chasing After Psychics





Don't say the SEC doesn't work hard for its billion dollar budget. The syndicate endorsing corruption (and not even worthy of capitalization), has released a press release indicating it is now pursuing enforcement action against a "known" psychic "who fraudulently raised $6 million after telling investors he could predict stock market highs and lows." Uhm, so does that mean that the SEC is now after every single pundit on CNBC as well? To be sure, while there are many more egregious cases of market manipulation out there, this one will surely make the late night comedy circuit.

 
George Washington's picture

Don't Blame Capitalism for Wall Street's Corruption and Lawlessness





Should we throw out capitalism altogether? Or would that be throwing out the baby with the bathwater?

 
Tyler Durden's picture

Full Text Of Rakoff Order Exposing SEC's Corruption And Cronyism





One of those hopefully seminal moments, when someone, somewhere decided to take a hard stand against the perpetual engine of corruption, greed, and cronyism.

 
Tyler Durden's picture

More Chicago Corruption





BNO reports that that the U.S. Attorney's office in Chicago will announce another public corruption case, possibly involving an elected official at 2 p.m. local time today.

Update: Well, it is not someone else people may have been expecting... Instead it is Ike Carrothers, the chairman of the City Council's police and fire committee.

 
Syndicate content
Do NOT follow this link or you will be banned from the site!