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Is BBC’s independent trader Alessio Rastani a prankster?

September 27th, 2011 There has been much speculation that the “trader” who appeared on the BBC News channel yesterday may be prankster, and perhaps even a member of the Yes Men. If true, this would be a huge embarrassment for the BBC. Self-styled “independent trader” Alessio Rastani created quite a stir with yesterday’s astonishing interview, […]

September 27th, 2011 | Posted in Blog | Read More »

Taibbi: Goldman lied to investors and lied to Congress. So why isn’t it prosecuted?

May 17th, 2011   Matt Taibbi, the Rolling Stone journalist who famously dubbed Goldman Sachs a “great vampire squid” in a seminal article published in July 2009, recently wrote another about the New York-based investment bank (The People vs. Goldman Sachs). Writing on Clusterstock, Henry Blodget, co-founder and editor-in-chief of Business Insider, said this one is “potentially […]

May 17th, 2011 | Posted in Blog | Read More »

The People vs. Goldman Sachs

By: Matt Taibbi Published: Rolling Stone Date: May 26th, 2011 A Senate committee has laid out the evidence. Now the Justice Department should bring criminal charges They weren’t murderers or anything; they had merely stolen more money than most people can rationally conceive of, from their own customers, in a few blinks of an eye. […]

May 12th, 2011 | Posted in Article Library | Read More »

Wall Street persists with line “Trust us. We can regulate ourselves”

April 15th, 2011 This episode from Anderson Cooper’s 360° from CNN makes it clear why investment bankers and people in ratings agencies, among others, should be prosecuted for their role in causing the global financial crisis. In the programme the Rolling Stone journalist Matt Taibbi and former New York State governor Eliot Spitzer explain the […]

April 15th, 2011 | Posted in Blog | Read More »

Max Keiser and Stacy Herbert on ‘the economics of extinction’

March 22nd, 2011 In this episode of the Keiser Report, the inimitable Max Keiser and his co-host, Stacy Herbert, cover a broad range of macro topics — including the bright side of inflation and the Fukushima nuclear disaster in Japan. They examine Saif al-Islam Gaddafi’s claims that he bankrolled Nicholas Sarkozy’s election campaign, and that […]

March 22nd, 2011 | Posted in Blog | Read More »

Embedded financial journalism at its worst?

December 21st, 2010 Today’s biggest financial news story was that the New York attorney-general is suing the accountancy firm Ernst & Young for fraud following its alleged role in the cooking the Lehman Brothers books in the years prior to the investment bank’s September 2008 demise. I’d like to focus here on the way in […]

December 21st, 2010 | Posted in Blog | Read More »

Taming the vampire squid

December 6th, 2010 “A great vampire squid, wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money,” was how Matt Taibbi described Goldman Sachs in a Rolling Stone exposé from 2009. Now, after what is perhaps the biggest example of private-sector market-failure the world has ever seen, the […]

December 6th, 2010 | Posted in Blog | Read More »

Inside the topsy turvy world of Goldman Sachs

August 5th, 2010 I just found Antonio Garcia-Martinez’s blog which, perhaps better than anything else I’ve read, enscapsulates the corrosive internal culture at  New York-based investment bank Goldman Sachs. In 2005 Garcia-Martinez was studying for a physics PhD at the University of California, Berkley when he was tempted to Wall Street by the prospect of […]

August 5th, 2010 | Posted in Blog | Read More »

Why America is so sickened by the squid

May 1st, 2010 Image: Freedom’s Phoenix New York-based financial blogger the Epicurean Dealmaker has written an excellent blog post which outlines why America has fallen out of love with the squid. The writer, himself an investment banker, suggests that the Americans have finally had the scales lifted from their eyes and recognised that a devious and […]

May 1st, 2010 | Posted in Blog | Read More »

A Goldman victory would be an affront to the very idea of civilization

April 24th, 2010 The Goldman Sachs case is likely to turn into a final referendum on the unsustainable, Ayn-Randian, greed-is-good ethos that has infected America since the 1980s, according to Matt Taibbi. The Rolling Stone writer here suggests that a Goldman Sachs victory in the Abacus 2007-AC1 fraud case… “would be a rebuke to the […]

April 24th, 2010 | Posted in Blog | Read More »