In Goldman Sachs We Trust: The Story of a $222 Stock going to $1 During the Great Depression.
As we look over the masters of the universe on Wall Street with Bear Stearns, Lehman Brothers, Merrill Lynch, Morgan Stanley, and Goldman Sachs only two remain standing and no longer in their previous form. Yet in the midst of all this turmoil, the storied Goldman Sachs is still churning out the profits. A recent […]
FDIC Banking Report: 305 Troubled Institutions up from 90 in 2008. $13.5 trillion Assets held with 2.1 Million Employees at 8,200 Institutions.
The FDIC is facing the highest amount of bank failures since the early 1990s. To calm Americans the government in 2008 upped the amount secured at FDIC institutions from $100,000 to $250,000 for each customer account. Yet losses have been so deep that in the fourth quarter of 2008 the Deposit Insurance Fund (DIF) quickly […]
10 Charts Showing a Prolonged Global Recession: Credit Markets, Housing, and Equity Markets point to Lengthy Economic Contraction.
The IMF came out with a global report on the economy in October of 2008. Since that time, the global economy has deteriorated even further and the IMF has issued another report. I went ahead and looked at both documents and from what is presented, there is very little reason to believe we will see […]
Art Nadel: Art Nadel the new Bernard Madoff? 76 Year Old Financial Swindler. Disbarred Early in his Career for taking client money to pay off Loan Sharks.
Art Nadel, if you haven’t heard, is another financial swindler in the similar vein of Bernard Madoff. Of course his $350 million swindle doesn’t hold a light to Madoff’s $50 billion Ponzi scheme but this does tell us one thing, where there is one roach there will be many more. And that is why we […]