Really awesome article on naked shorts. There are only a handful of news organizations who do real journalism these days, and, surprisingly, Rolling Stones seems to be one of these few. I am also very impressed with Bloomberg reporting recently - it looks like after Murdoch bought WSJ the best people went to Bloomberg.
http://www.rollingstone.com/politics/story/30481512/wall_streets_naked_swindle/print
Here's the really scary thing - we've lost the integrity of our financial markets.
The reason US was so successful in attracting capital was the transparency with which financial markets here used to operate, and strong regulations that ensured this transparency - for the most part, the legacy of Great Depression. However, over the last couple of decades these regulations have been weakened, and now we're back to the turn of the century stock swindles and off the books accounting (http://www.creditloan.com/blog/mark-to-market-accounting-changes-favor-banks/).
All this - coupled with the dollar fall - can mean only one thing: US will certainly lose its status as a financial capital of the world within the next decade.
In other news, marijuana legislation has been relaxed (http://finance.yahoo.com/news/AP-Newsbreak-New-medical-apf-4109207182.html?x=0&sec=topStories&pos=main&asset=&ccode=). So instead of worrying about markets, botched wars, and disappearing industrial base, the population can just get stoned! Finally, a government that knows how to rule...
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment