• williambanzai7
    06/01/2015 - 20:50
    “Why do you think NSA [and other intelligence agencies] support it?” --William Binney

Enron

Tyler Durden's picture

Wall Street To Enter Hollow Guilty Plea On FX Rigging, Return To Business As Usual





The Justice Department looks set to extract "unprecedented" guilty pleas from some of Wall Street's largest banks in connection with their role in rigging FX markets. Nevertheless, fears of triggering an "Arthur Andersen effect" will ensure that once again, TBTF institutions will suffer no material consequences.

 
Tyler Durden's picture

Nomi Prins: The Clintons & Their Banker Friends





In the coming months, however many hours Clinton spends introducing herself to voters in small-town America, she will spend hundreds more raising money in four-star hotels and multimillion-dollar homes around the nation. The question is: "Can Clinton claim to stand for 'everyday Americans,' while hauling in huge sums of cash from the very wealthiest of us?" This much cannot be disputed: Clinton's connections to the financiers and bankers of this country - and this country's campaigns - run deep. As Nomi Prins questions, who counts more to such a candidate, the person you met over that chicken burrito bowl or the Citigroup partner you met over crudités and caviar?

 
lemetropole's picture

Rant Time





As is almost always the case, the price of gold was leaned on at the standard PLAN A time in London when The Gold Cartel traders reported for work, but their nudge was thwarted pretty quickly. Gold took off again going into the Comex trading hours and managed to reach $1200 where it was stopped dead in its tracks. James Mc early this morning…

 
Tyler Durden's picture

"Too Big To Fail Is A License For Recklessness" America's Banking System Is A "Fragile House Of Cards"





"Too Big to Fail is a license for recklessness. These institutions defy notions of fairness, accountability, and responsibility... They benefit from the upside and expose the rest of us to the downside of their decisions. These banks are too powerful politically as well... Effectively we're hostages because their failure would be so harmful. They're likely to be bailed out if their risks don't turn out well and the largest financial firms in America can hide an enormous amount of risk in derivatives which creates a house of cards — a very fragile system."

 
Tyler Durden's picture

Hillary Clinton Is Grooming A Former Goldman Banker To Become America's Next Treasury Secretary





Should Gary Gensler truly be Clinton's chief financial officer, and should Hillary become America's next president, then ladies and gentlemen, in the fine tradition started by Hank Paulson who nearly brought the entire wastern world to ruin, the next US Treasury Secretary will be the following fine former Goldman Sachs employee and "champion for everyday Americans."

 
Tyler Durden's picture

Frontrunning: April 10





  • Nikkei tops 20,000, Europe hits 15-year high (Reuters)
  • GE to sell real estate holdings, sets $50 billion share buyback (Reuters)
  • Iran’s Middle Class Plans for Life After a Deal (BBG)
  • Walgreens to Close 200 Stores as It Expands Cost Cuts (WSJ)
  • Hillary Clinton expected to announce presidential run as soon as this weekend (Reuters)
  • It will cost $1.5 billion to keep Deutsche Bank Libor Manipulators out of prison  (USA Today)
  • Police Cameras Bring Problems of Their Own (WSJ)
  • Obama says concerned China bullying others in South China Sea (Reuters)
  • Investors Revive Appetite for Asian Junk Bonds (WSJ)
 
Tyler Durden's picture

Bitcoin Default Swaps: Blythe Masters Joins Bitcoin Startup





First she tried to take over the credit derivatives world which she first had to create, and succeeded. Then, after Enron failed, she tried to take over the California electricity market and also failed. And all through this time she made sure the prices of the world's precious metals were right where she wanted them. Now, a year after an embarrassing attempt to become head of her former regulator ended in humiliation, she is back and has her sights set on the final financial frontier: Bitcoin.

 
Capitalist Exploits's picture

Why Risk is Integral Part of Invention, Growth and Wealth





The person who risks nothing, does nothing, has nothing, is nothing, and becomes nothing.

 
Tyler Durden's picture

The Dangerous Economics of Shale Oil





For years, we've been warning that the economics of the US 'shale revolution' were suspect. Namely, that they've only been made possible by the new era of 'expensive' oil (an average oil price of between $80-$100 per barrel). We've argued that many players in the shale industry simply wouldn't be able to operate profitably at lower prices. Well, with oil prices now suddenly sub-$60 per barrel, we're about to find out. Using the traditional corporate income statement, it is difficult to determine if shale drilling companies make money. There are a lot of moving parts, some deliberate obfuscation at some companies, and the massive decline rates make analysis difficult – since so much of reported profitability depends on assumptions made regarding depreciation and depletion. So, can shale oil be profitable? If so, at what price? And under what conditions?

 
Tyler Durden's picture

2014 Year In Review (Part 2): Will 2015 Be The Year It All Comes Tumbling Down?





Despite the authorities' best efforts to keep everything orderly, we know how this global Game of Geopolitical Tetris ends: "Players lose a typical game of Tetris when they can no longer keep up with the increasing speed, and the Tetriminos stack up to the top of the playing field. This is commonly referred to as topping out."

"I’m tired of being outraged!"

 
williambanzai7's picture

No DaD, PHiBRo IS NoT ENRoN II...





On the other hand...

 
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