LIBOR: The World’s Most Dishonest Number
LIBOR: The World’s Most Dishonest Number:
The FDIC has sued 16 of the largest banks in the world plus the British Bankers Association (BBA) alleging that they engaged in fraud and collusion to
‘Every big bank CEO failed the ethical test, and the ethical bar they failed to surmount was set exceptionally low.’
“If the Obama administration has long known that fraud was endemic among the leaders of the world’s largest banks, then its policies toward those CEO and the banks they control have been reprehensible and harmful.”
Terrified yet?
“Under Obama, millennials can’t get jobs and can’t pay off student loans, and their parents have been…”
“Under Obama, millennials can’t get jobs and can’t pay off student loans, and their parents have been struggling financially for years — but millennials didn’t exactly see their elders thrive even during the supposedly better days of the Bush presidency, when the only way a non-rich person could get an extra sliver of the pie was by tapping into what turned out to be hyperinflated home equity. America’s military might was more or less useless under Bush, and it’s not much use under Obama. Churches, then and now, were overpoliticized and scandal-plagued. D.C. has been reduced to permanent dysfunction by a cabal of nihilists — we know they’re Republicans, though most millennials probably assume, because they’re constantly told this, that “both sides do it.” Maybe millennials think institutions suck because institutions suck.”
– No More Mister Nice Blog (via azspot)
“The extent to which America’s economic abundance is being closed off to vast swaths of our…”
“The extent to which America’s economic abundance is being closed off to vast swaths of our population is truly remarkable.”
“While economists have always welcomed a reduction in marginal cost, they never anticipated the…”
“While economists have always welcomed a reduction in marginal cost, they never anticipated the possibility of a technological revolution that might bring those costs to near zero.”