Janet Tavakoli

Janet Tavakoli: Life And Death On Wall Street

"We're in precarious times for sure. What we have done is unprecedented in the history of the United States. We got rid of the benchmark, the gold standard. We don’t have any any stable benchmark anymore. Instead, we have currencies that are being benchmarked off of each other. If you're measuring your weight you want a scale, right?"

The Mayor Of London: "My Side" Versus Reality

Taken as a whole, Mayor Khan's presentation to the Chicago Council on Global Affairs on "The Breakdown of Social Integration – The Challenge of Our Age," seemed to ignore unpleasant facts which suggest that there is more incompatibility of values than he is willing to admit -- in the interest of pushing an immigration agenda favored by his "side." Mayor Khan's presentation seemed designed to pacify Westerners and enable the spread of the rule of Islam.

Lead Attorney In Anti-Clinton DNC Fraud Case Mysteriously Found Dead

Call it conspiracy theory, coincidence or just bad luck, but any time someone is in a position to bring down Hillary Clinton they wind up dead. In fact, as we noted previously, there’s a long history of Clinton-related body counts, with scores of people dying under mysterious circumstances. While Vince Foster remains the most infamous, the body count is starting to build ominously this election cycle - from the mysterious "crushing his own throat" death of a UN official to the latest death of an attorney who served the DNC with a fraud suit.

Introducing The Gigantic And Dangerous Wall Street Loophole You’ve Never Heard Of

The following story is guaranteed to make you sick. Once again, we’re shown that following trillions in taxpayer funded bailouts and backstops, TBTF Wall Street banks immediately went ahead and focused all their attention obtaining loopholes in order to transfer risk and make billions upon billions of dollars in the financial matrix, as opposed to adding any benefit whatsoever to society.

Senate Democrats Defeat The President: Why Obama Is Rushing To Fast-Track The TPP

Moments ago, in an embarrassing setback for the president, Senate Democrats in a 52-45 vote - short of the required 60 supporters - blocked a bill that would give President Barack Obama fast-track authority to expedite trade agreements through Congress, a major defeat for the president and his allies who "say the measure is necessary to complete a 12-nation Pacific trade deal that is a centerpiece of the administration’s economic agenda." But don't count it out yet: the WSJ cites Mitch McConnell who told reporters shortly before the vote, which he expected to lose, that “This issue’s not over" adding that "I’m hopeful we’ll put this in the win column for the country sometime soon.”

Fed Unveils Headache-Free QE Math

Do derivatives confuse you? Do you hate bond math? We feel the same way! So we simplified your life with headache free QE math. Compounded rates, equivalent rates, production functions: who needs old math?

Why Obama Allowed Bailouts Without Indictments

"The government’s bailout plan destroyed capitalism. In a capitalist system, those who stood to gain–and already made off with large gains—would have to bear the risk. The bailouts represented a corruption of capitalism. Crony capitalism violates the spirit of democracy established by the Founding Fathers of the republic known as the United States." - Janet Tavakoli

All of the suffering and hardships the majority of Americans are experiencing today are directly related to the coup pulled off by the crony financial oligarchs in the fall of 2008, and all of the media and political minions that helped them do it. People realize we have become a Banana Republic and they have now lost all hope.

Guest Post: Janet Tavakoli: Understanding Derivatives and Their Risks

Global financial markets are awash in hundreds of trillions of dollars worth of derivatives. By some estimates, the total amount exceeds one quadrillion. Derivatives played a central role in the 2008 credit crisis, as they had a brutal multiplying effect on the magnitude of the carnage. As a bad asset was written down, oftentimes there were derivative contracts written against it that resulted in total losses 10x greater than the initial write-down. But what exactly are derivatives? How do they work? And have we learned to treat these "weapons of mass financial destruction" (as Warren Buffet colorfully coined them) any more carefully in the aftermath of the global financial crisis? Not really, claims Janet Tavakoli, the danger behind derivatives doesn't lie in their existence, she stresses, but when abused, derivatives can create massive damages. So at the root of the "derivatives problem" is control fraud - the rampant unchecked criminal action by influential players on Wall Street.

Guest Post: Jon Corzine, MF Global, And Unaccountability

In April 2007, former New Jersey governor, 'honorable', Jon Corzine had an altercation with a Garden State Parkway guardrail. A year later, he addressed a bevy of reporters at the swanky Drumthwacket mansion and expressed appreciation for “family, friends, and the fragility of life.” During his recovery period, he advocated seatbelt safety, before returning to New Jersey's budget, extracting $500 million in austerity measures from farmers, educators, and environmentalists, and hiking tolls on New Jersey roadways. On the one-year anniversary of his accident, his chief-of-staff, Bradley I. Abelow declared,  “Corzine has returned to his former self as a thorough and exacting boss.” (Italics mine.) Fast forward to the current MF Global flameout. Abelow shifted to Corzine’s Chief Operating Officer. And not only did Corzine ratchet up the ante on ways to really piss off farmers, but after several days of engaging in verbal dodge ball with Congress, this ‘thorough and exacting boss’ maintained his Forest Gump type cloak of secrecy regarding the stolen $1.2 billion of his customers’ segregated money. After days of political-reality TV, we knew nothing more about its evaporation. Corzine and his stewards, Abelow and Chief Financial Officer, Henri Steenkamp, executed a perfect chorus of  ‘I don’t recalls’, ‘I didn’t intends’ and ‘the butler did its’.