According to Barron's, Simmons is shorting at least 8,000 BP shares thus putting in question a possible "conflict of interest" when he went on numerous interviews making outrageous comments regarding BP and the Gulf oil spill.
Transocean (RIG) President and CEO Steven Newman performed a dance--Bollywood style--at the company's 2009 safety review in Mumbai, 14 months prior to the Horizon incident.
Yes, I'm talking about a cameo by the Nobel Prize winner, famed economist and New York Times columnist, Paul Krugman and Sean P. Diddty in an upcoming summer comedy with enough sex and drugs to kill a small commune--"Get Him To The Greek."
When a major mainstream media like Forbes compares BP with Goldman Sachs and recommends investors to buy Goldman stocks, you know the world is in total moral hazard and deserved to be doomed as Marc Faber always said.
For those basting in the euphoria of last Friday's rebound in the financials thus believing Goldman's shares are oversold, I'm happy to reiterate that the downward trend from the technical chart remains intact.
A 17% bonus increase in a recession year with a nationwide jobless rate of around 10%, coupled with a reduction in lending while receving TARP money - a sure fire recipe for becoming public enemy number 1.
In light of the fact that Goldman Sachs actively trades against its clients, it is now high time for the U.S. federal prosecutors probe into Goldman’s trading practice of Baidu IPOs as well.
The governments of 10 western countries called Google evil in a letter demanding the company improve user privacy, citing concerns about Google Buzz and Street View services.
Considering it was just a year ago when we were jolted into this banking-induced recession, you can imagine my astonishment when I read this recent Forbes headline:
“Dubai's Failure Exposes A U.S. Advantage
The well-regulated U.S. financial sector has a lot to show for itself.”
There was a report by the Guardian this Monday that a “whistleblower” from the International Energy Agency (IEA) claims that IEA has been, for years, over-reporting the estimates of oil reserves around the world under pressure from the U.S. government. This would certaily be a cause for celebration by many peak oil theorists such as Matt Simmons, since on the surface, the story is quite plausible.
A year after the government applied many extraordinary measures to resuscitate the banking industry, the bleeding has slowed, but it hasn't stopped. Meanwhile, bank stocks have rallied off their winter lows, driven primarily by nonbanking businesses such as fixed-income trading and investment banking. There are several factors behind the big banks seeminly impressive performance....
An article by The Hill dated 9/20/09 quoted President Obama as saying"...I am concerned that if the direction of the news is all blogosphere, all opinions, with no serious fact-checking, no serious attempts to put stories in context, that what you will end up getting is people shouting at each other across the void but not a lot of mutual understanding..."
Since President Obama confirmed that bloggers do run the world, I’d like to dedicate this blog to respond to his comments.
Much has been said about Goldman Sachs by articles like the one Mr. Matt Taibbi wrote and published by Rolling Stone on July 2, 2009 - “Inside the Great American Bubble Machine”. But most have not heard about Goldman Sachs involvement in the initial public offering (IPO) of Baidu (BIDU) and the subsequent BIDU share price movements back in 2005 and 2006.
