Tag: Ridiculously obvious scams

Marshall Auerback: Apple Has an Early Case of GE’s Disease

By Marshall Auerback, a market analyst. Produced by the Independent Media Institute The boom witnessed in the U.S. equity market over the past few years has begun to echo the latter stages of the high tech bubble of the early 2000s, right down to the investor interest ultimately gravitating toward […]

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ECB Fears Contagion from Turkish Lira Collapse, Bank Stocks Plunge

Yves here. Apparently some Fed insiders have been arguing for more measured rate increases due to the fact that hot money exiting risking emerging economies could put them in a world of hurt, witness that Argentina and Pakistan have gone tin cup in hand to the IMF. But Turkey sits in a critically important location, […]

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Missed Visits, Uncontrolled Pain And Fraud: Report Says Hospices Lacks Oversight

Yves here. Hospices in theory offer an alternative to the US medical model that Lambert has described as “Insert tube, extract rent.” In practice, sadly, even patients in their closing months of life need to be vigilant about their choice of provider. By Melissa Bailey, a Boston-based correspondent on the KHN enterprise team, focusing on […]

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Taxcast: A Firewall to Protect EU Citizens from the Big Four Accountancy Firms and the Tax Avoidance Lobby

Originally published at the Tax Justice Network In the July 2918 Taxcast: we look at a proposal for a firewall to protect EU citizens from the Big Four accountancy firms and the tax avoidance lobby: we look at a new report from the Corporate Europe Observatory we discuss UN Special Rapporteur on Extreme Poverty and […]

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Argentina 20 Years On: Has the IMF Really Changed Its Ways?

By Gino Brunswijck, Maria Jose Romero and Bodo Ellmers of The European Network on Debt and Development (Eurodad). Originally published at TripleCrisis Argentinians are experiencing deja-vu this month as the government announces massive layoffs and a hiring freeze as part of an adjustment package attached to a loan from the International Monetary Fund (IMF). Thousands […]

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The Missing Profits of Nations

Lambert here: “Close to 40% of multinational profits were artificially shifted to tax havens in 2015.” Holy moly! By Thomas Tørsløv, PhD student, University of Copenhagen and Ministry of Taxation, Denmark, Ludvig Wier, PhD candidate, University of Copenhagen, and Gabriel Zucman, Gabriel Zucman. Originally published at VoxEU Between 1985 and 2018, the global average statutory […]

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Good News? Percentage of Americans Who Believe Climate Change is Real Reaches New High

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. Over the course of  the last decade, the National Surveys on Energy and the Environment (NSEE) has surveyed Americans to determine if they believe there is solid evidence of global warming. The most recent […]

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Michael Hudson: Argentina Gets Biggest IMF Loan in History

In this this Left Out podcast of The Hudson Report, a weekly series produced by Left Out with the economist Michael Hudson, Paul Sliker speaks with Hudson about the economic and political implications of the International Monetary Fund’s $50 billion loan to Argentina, which is the largest IMF credit line in history. Hudson is research professor […]

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Michael Olenick: Update Confirms That Share Buybacks Are Still Corporate Suicide

In 2017, INSEAD published a study by Robert Ayres, an INSEAD Emeritus Professor of Economics and Political Science and Technology Management, and Michael Olenick, an Institute Executive Fellow which looked at all buybacks for US companies over the prior 20 years, discarding firms not in business when the study was done, not in business five […]

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SEC Knifes Its Whistleblower Program

The SEC always hated the whistleblower program that Congress imposed on it as part of Dodd Frank reforms. Congress was responding to the SEC’s grotesque institutional failure in ignoring Harry Markopolos’ repeated, detailed warnings about the Bernie Madoff fraud, a Ponzi scheme that reached $65 billion due to SEC inaction. But as we’ll describe, the […]

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Richard Murphy: Stock Markets Look Ever More Like Ponzi Schemes

Yves here. Many commentators have written about how companies are increasingly more concerned with the business of managing their stock prices than the business of their business. We commented on this sorry development early on, in a 2005 Conference Board Review article, The Incredible Shrinking Corporation. Richard Murphy gives a particularly clear and terse explanation […]

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Women (and Men) of the World, Unite! How to Stand Up to Extremist Orthodox Jews Who Demand You Give Up Your Airline Seat

In the last week, there have been two incidents of women relenting to pressure from airlines to give up their seats to accommodate Orthodox Jewish bigots who refused to be seated next to them. This should be as unacceptable as Klansmen asking blacks to change seats. And let us stress that the ugliest feature of […]

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Naked Capitalism Readers Issue Scam Alert For Amazon’s “Become Our Freight Shipper” Scheme

I must confess that I hadn’t had a chance to look at how Amazon was planning to go into the freight business in competition with Fedex and UPS. I was stunned to see that Amazon plans to prey on people who by all accounts are less desperate than the ones who wind up being warehouse […]

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Koch Money and the Unflappable Economist

By Philip E. Mirowski, Carl Koch Chair of Economics and the History and Philosophy of Science, University of Notre Dame. Originally published at the Institute for New Economic Thinking website t the beginning of May 2018, there was a brief furor over donations from Koch family-affiliated philanthropies to fund the Mercatus Institute and the newly-named […]

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How Cynical Is the Democratic Party’s Support for Identity Politics? (Plus a Note on the Ocasio-Crowley Contest)

By Gaius Publius, a professional writer living on the West Coast of the United States and frequent contributor to DownWithTyranny, digby, Truthout, and Naked Capitalism. Follow him on Twitter @Gaius_Publius, Tumblr and Facebook. GP article archive  here. Originally published at DownWithTyranny [embedded content] Albright: “Younger women, Hillary Clinton will always be there for you” … […]

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Will Investors Like CalPERS Fall for Private Equity’s Long-Lived Fund Con?

CalPERS’ staff, in particular its Chief Investment Officer Ted Eliopoulos, have been talking up a private equity industry investment theme as if it were a new bright shiny object, or at they like to tout, “innovative”. We’ll discuss at some length in a later post how the last CalPERS Investment Committee meeting revealed that CalPERS’ […]

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Leaked Memo by Larry Sonsini Shows Sonsini and CalPERS Violating Fiduciary Duty With Proposed Private Equity Outsourcing Scheme

A few weeks ago, we obtained the text of a memo from Silicon Valley lawyer Larry Sonsini of Wilson Sonsini Goodrich & Rosati fame, to key CalPERS executives. It came from someone not with CalPERS. An insider confirmed that this memo, created in January, was presented to the board in May during its meetings.1 We’ve […]

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Finally: SEC Frets about Share Buybacks, “Torrent of Corporate Trading Dominating the Market” and “Short-Term Financial Engineering”

Yves here. A Republican SEC commissioner criticizes share buybacks…and where have the Democrats been on this issue? Too busy giving speeches to Goldman to take notice, it seems. Mind you, one robin does not make a spring. But it is a disgrace that share buybacks have been given a free pass for so long. But […]

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Jim Chanos on Fraud: “Cryptocurrency Is a Security Speculation Game Masquerading as a Technological Breakthrough”

By Lynn Parramore, Senior Research Analyst, Institute for New Economic Thinking. Originally published at the Institute for New Economic Thinking website Jim Chanos, founder and managing partner of New York-based Kynikos Associates, has spent much of his career studying financial fraud. He shares his thoughts with the Institute for New Economic Thinking—where he is a […]

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Private Equity Kills Toys R Us, Workers Get No Severance

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She now spends much of her time in Asia and is currently working on a book about textile artisans. Toys R Us will shutter all stores by the end of this month. I wrote about the role private equity played in […]

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Unsafe At Any Speed Redux, Self-Driving Cars, and Legal Liability

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She now spends much of her time in Asia and is currently working on a book about textile artisans. A piece in today’s Ars Technica, Senators probe driverless car testing amid lax Trump oversight, highlights an effort by two Democratic Senators, […]

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Meet the Economist Behind the One Percent’s Stealth Takeover of America

By Lynn Parramore, Senior Research Analyst, Institute for New Economic Thinking. Originally published at the Institute for New Economic Thinking website Nobel laureate James Buchanan is the intellectual lynchpin of the Koch-funded attack on democratic institutions, argues Duke historian Nancy MacLean Ask people to name the key minds that have shaped America’s burst of radical […]

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