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Financial Scandals

VOTE: The Worst Financial Scandal Of All Time

The Huffington Post | Mark Gongloff | Posted 08.13.2012 | Business

Lots of people out there are saying the Libor scandal is the worst financial scandal of all time. But how can we even know such a thing? There's only ...

Goldman Sachs, Goldfish Eat Their Young

Norb Vonnegut | Posted 05.25.2011 | Business
Norb Vonnegut

Junior employees are expendable. Like goldfish, investment banks eat their young when brand-protection and self-interest make cannibalism seem rationale.

Goldman Sachs and the Tourre de Toxic

Norb Vonnegut | Posted 05.25.2011 | Business
Norb Vonnegut

I'm no apologist for Goldman Sachs. But everybody in this trade--the banks, Goldman Sachs, Paulson's hedge fund--was guilty of financial privateering in one form or another.

New Import: "Too Big To Fail"

Norb Vonnegut | Posted 05.25.2011 | Business
Norb Vonnegut

Ranking the largest banks in the world, it's not until the number seven slot that we find a US bank: JP Morgan Chase. What's this mean? We can't solve the issues of derivatives, leverage, and short-sighted financiers until we talk to the rest of the world.

The Greatest Financial Scandals

Business Week | Brian Burnsed | Posted 05.25.2011 | Business

The now infamous dealings of Bernard Madoff, the money manager accused by federal authorities of running a $65 billion Ponzi scheme, have dominated he...

Is the SEC Awake?

Norb Vonnegut | Posted 05.25.2011 | Business
Norb Vonnegut

The Securities and Exchange Commission barred Bernard Madoff from the securities business. We all feel safer now? Yeah, right.

One Billion and Broke

Norb Vonnegut | Posted 05.25.2011 | Business
Norb Vonnegut

If this were Hollywood, the courtroom would be jammed. Reporters everywhere. Rowdy audience. Distinguished lawyers snarling and prepping to rip each o...

Spaghetti a la Madoff

Norb Vonnegut | Posted 05.25.2011 | Business
Norb Vonnegut

The trustee is on a mission to recover funds. He has his agenda, and we're watching a game of hardball between the courts and some extremely wealthy investors.