Oct 31, 2011
Regulators Investigating MF Global
Federal regulators have discovered that hundreds of millions of dollars in customer money has gone missing from MF Global in recent days, prompting an investigation into the brokerage firm, which is run by Jon S. Corzine, the former New Jersey governor, several people briefed on the matter said on Monday. The recognition that money was missing scuttled at the 11th hour an agreement to sell a major part of... read more
Oct 31, 2011
Greek PM calls referendum on new EU aid deal | Reuters
Greek Prime Minister George Papandreou called an unexpected referendum on Monday on the EU bailout deal for his debt-ridden country, a move that could necessitate a snap election if a public angry with swinging austerity measures rejects the deal. Pressured by his own lawmakers to share the heavy political burden of belt-tightening with other parties, Papandreou said he needed wider political support for... read more
Oct 30, 2011
The Federal Reserve is Leveraged at 53 to 1
While the world is awash in liquidity, no one seems to notice that it’s actually in the form of leverage or cheap debt, NOT real capital or equity. The US banking system as a whole is leveraged at 13-to-1. While this is not horrible relative to Europe’s banking system (more on this in a moment), these levels still mean that an 8% drop in asset values wipes out ALL equity. Then you have Europe’s... read more
Oct 27, 2011
China Limits Media and Internet Freedom
Political censorship in this authoritarian state has long been heavy-handed. But for years, the Communist Party has tolerated a creeping liberalization in popular culture, tacitly allowing everything from popular knockoffs of “American Idol”-style talent shows to freewheeling microblogs that let media groups prosper and let people blow off steam. Now, the party appears to be saying... read more
Oct 26, 2011
Marine vs NYPD
Occupy Wall Street protesters are planning another global rally later this week, ahead of the G20 summit, to demand world leaders impose a ‘Robin Hood’ tax on financial transactions. It’s in New York that peaceful protests have seen most arrests, as well as allegations of police heavy-handedness. A video featuring Sgt. Shamar Thomas has gone viral on YT. In the video, he confronts... read more
