The most stunning piece of news we're getting in the wake of the MF Global collapse is in the clients of the firm who managed to get away scot-free, with no freezing of accounts or capital -- particularly the accounts of the mega-cap independent oil company Koch Industries.
Ratings downgrades will trigger increased margin calls. This is all business as (un)usual. What isn't usual is diverting money from segregated customer accounts. It's too late to blame "sloppiness, bookkeeping, or accounting."
The Cramer interview is breathtaking in exposing the administration's total lack of understanding of the distorted formation of the price of oil and gasoline in today's markets and seemingly impervious to its cost to the economy and its destructive impact on jobs.
Would a Perry presidency be tempted to follow in this predecessor's footsteps? Given the incestuous interrelationship between Texas politics and oil, in many ways the Bush presidency becomes a cautionary tale.
We fight like crazy to avoid a depression, pour more than a trillion dollars into stimulus, bail out banks to ensure that credit will continue to flow, and when finally we see some good results, we run into the oil wall.
The same Wall Street speculators who caused the worst financial crisis since the 1930s through their greed, recklessness, and illegal behavior are ripping off the American people again by gambling that the price of oil and gas will continue to go up.
The big fluctuations in the price of crude oil over the last several weeks gave fresh evidence of the ever increasing influence of speculators on the price every day Americans pay for gasoline. Why isn't the government stepping in?
If anyone thinks that the Commodity Futures Trading Commission (CFTC) has the right stuff to regulate the commodities markets, look no further than its failure to check manipulation in the silver market.