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FORMER MANAGING DIRECTOR OF GOLDMAN SACHS: ACCOUNTING FRAUD OF THE TOO BIG TO FAILS MAY BE WORSE THAN ENRON
Nomi Prins - former managing director of Goldman Sachs and head of the international analytics group at Bear Stearns in London - is saying the same thing that financial bloggers have been saying: The giant banks are manipulating their books to make the...
QUESTIONS FOR BERNANKE’S SENATE CONFIRMATION HEARING
The Senate Banking Committee will be chatting with Ben Bernanke this Thursday to vote on his reappointment.Demand that the Committee ask the following questions for our esteemed Esteemed Chairman (and contact your own Senators also and demand that they...
NEW QUAD-CORE IMAC “WORTH THE WAIT”
Reviewer James Galbraith (macworld.com) gives the new quad-core 27-inch iMac computers with Intel Core i5 and Core i7 “Nehalem” processors 4.5/5 mice, calling them “worth the wait.” In performance tests, writes Galbraith, the 2.55GHz Core i5 iMac was “the fastest standard configuration Mac we’ve ever tested” and the Core i7 ...
GALBRAITH: ADMINISTRATION’S SOLE GOAL IS TO RESTORE SYSTEM OF 5 OR 10 YEARS AGO, BUT CONFIDENCE WON’T BE RESTORED UNLESS FRAUD IS PROSECUTED
As I have repeatedly written, the largest U.S. banks have repeatedly gone bankrupt due to wild speculation which was blessed by the Fed, and then the government covered up their bankruptcy.Indeed, the New York Times writes today about one of the too bi...
GALBRAITH: FED IS UNLAWFULLY WITHHOLDING INFORMATION FROM CONGRESS
The Federal Reserve is unlawfully withholding information from Congress.Says who?Says noted economist James Galbraith:To this day, Chairman Ben Bernanke has refused to disclose to Congress exactly who has received help under the many crisis measures an...
THE ECONOMY WILL NOT RECOVER UNTIL TRUST IS RESTORED
A 2005 letter in premier scientific journal Nature reviews the research on trust and economics: Trust ... plays a key role in economic exchange and politics. In the absence of trust among trading partners, market transactions break down. In the absenc...
GALBRAITH: “THE STRATEGY …THAT YOU WOULD SUSTAIN THE BANKING SYSTEM IN ORDER THAT IT WOULD RESUME LENDING — HASN’T WORKED, AND IT ISN’T GOING TO WORK”
Economist James Galbraith told McClatchy:The strategy that was stated at the beginning of the year — which is that you would sustain the banking system in order that it would resume lending — hasn't worked, and it isn't going to work."Galbraith is ...
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