Like every other Ponzi Scheme, Social Security is beginning to submerge underwater like the Titanic. Get ready for another bailout of government ineptitude.
Last year, the US dollar was the butt of monetary jokes. But now, in a moment of cosmic irony, some global investors are now fleeing to the relative safety of the US dollar.
Politicians sustain their business by giving away as many tax dollars as possible to those who can best influence re-election. This backwards model now haunts states that reaped giveaways during the boom.
Only time will tell whether the high priests of finance can pull the right levers to return to normalcy. One thing is for sure: it's going to be a long time.
This week Google announced a new broadband initiative. A few days earlier, the company unveiled 'Buzz.' Is all this entrepreneurial zest a sign Google is a leader? Or, is the search/ad giant losing focus?
Bloomberg reports: Greece turned to Goldman Sachs Group Inc. in 2002, just after adopting the euro, to get $1 billion in funding through a swap on $1...
In Forbes's "Credit Card Defaults Decrease, But Long Road Ahead," Bank of America (BAC), American Express (AXP), JPMorgan Chase (JPM) and Capital One ...
If Goldman created these instruments with their "expertise", then their bets against the CDOs is direct evidence the iBanks betrayed their fiduciary relationship with anyone who bought their CDOs. If every CDO is tracked back to the original underwriter, investors should bring forth a class action.
Scandal is an awesome marketing tool. Rather than paying for ads, you get millions of dollars of press for free. Moreover, all that press becomes gossip (AKA "word-of-mouth" marketing).