Tag Archive | "Wall Street"

JP Morgan Federal Indictments, Fines–Yet Jamie Dimon Skates

Jamie Dimon lives a charmed life. In a normal world, he would be in jail or at least be out of a job–not earning millions of dollars in pay and benefits. Which is really a parable about the world in which we live in where nothing really changes.

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S&P: A Wall Street Shill With A Sense of Humor

I like a good sense of humor as much as anyone. So, I tip my hat to the people over at Standard and Poor’s — especially the legal department — for giving me a chance to just have a good ‘ole belly laugh. You see, all that stuff about S&P’s culpability in the mortgage scam that robbed millions of people of their jobs and savings is just made-up, and, to boot, the lawsuit filed by the Justice Department is “political retribution.” Seriously. Now, c’mon, did you laugh or not?

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Detroit to Wall Street: We Are All Jamie Dimon’s Children

I mean this in a couple of ways. If people in Detroit were all named “Jamie Dimon,” a bailout would be on its way, free and clear, low-interest, no questions asked, the same kind of bailout JP Morgan Chase’s Dimon and his gang of thieves on Wall Street were able to pocket after they cratered the economy. But, barring Dimon being an actual whore, not simply a financial one, the familial connection ain’t happening for the people of Detroit — not that they’d really want it. That said, there is a real argument to made: Wall Street should pay for Detroit’s fiscal situation. And I’d propose a surtax on profits called “The Jamie Dimon Surtax.”

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Ending The Farce

It’s hard to pick out, in the world we live in, the greatest of all farces. But, certainly, a top-tier candidate would be the repeated, mind-numbing instances when a Wall Street financier or a big bank pays a massive fine to avoid litigation but is allowed to present the fiction that it did nothing wrong. Everyone knows the law was violated. But, only the big fish get to pretend like it never happened. Well, maybe there is a very tiny crack in the facade of these farces, which could bring, some day, the practice to an end.

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Wall Street Gets To Fuck Workers Twice

So, Wall Street got to really fuck workers once — when the greedy bastards who cratered the economy with their foolish games, they put millions of people into the streets, people who lost their jobs because of the greed. While not a single high-ranking financial leader is in jail, the greedy bastards are coming back for a second time to fuck workers — this time trying to screw them out of pensions.

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Krugman: “OWS Has Done A Great Service”, Wall St Committed Crimes

   A few months ago, I spent 5-6 hours interviewing Paul Krugman for Playboy magazine. It’s now on-line here. He speaks candidly–surprise–about the economic misdeeds of Wall Street, the foolishness of the current austerity obsession and focus on the non-existent debt crisis, and a whole range of topics including his view that the Obama Administration […]

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Wall Street, We Can Hold YOU Hostage

    In some ways, the worst phenomena in political and public life is the way in which we–the people–give over power to the financial and corporate elite partly because we internalize marketing phrases and economic nonsense beaten into our brains over 30 years by the brain-dead traditional media and a capitulation by the political leaders […]

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And What Do The People Get For This?

   On the face of it, it’s a good thing when the labor movement leverages the trillions of dollars–yes, that’s TRILLIONS–that sit in pension funds. It’s been a topic of debate for a long time. The question is: what do we get? Here is the example, via The Wall Street Journal: New York Gov. Andrew […]

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Little Fish, Big Fish: The Illusion of the Prosecution of Wall Street

Gupta. Rajaratnam. Blaring headlines are a potentially dangerous distraction from the truth: the bankers responsible for the economic catastrophe that wiped out millions of jobs and trillions of dollars in wealth are still free and clear, reaping tens of millions of dollars more and laughing all the way to next purchase of a yacht or […]

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Wall Street Turning On Obama–Showing The World How Greedy They Truly Are

   It is always a good thing to start the morning with a strong cup of black coffee (no milk, no sugar, thank you) and a good, loud belly laugh. Absurdity is often the root of a good laugh. Exhibit #1 today: Wall Street is now unhappy with the president and some of those characters […]

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Can’t We Put A Sock in This Guy’s Mouth Already?

   Oh, no. Here we go again. We’ll have to endure yet another round of Clinton nostalgia: In the book, titled “Back to Work,” Mr. Clinton will make the case for why government matters, explaining his ideas on energy, job creation and financial responsibility, his publisher said Thursday.    You mean we’re going to get […]

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Coddle Wall St, Lose Elections

   People sometimes repeat certain phrases because they’ve heard them used repeatedly when they actually want to say something else, even if they aren’t conscious. Or, put another way–if you want to know why Democrats lost the special election in New York, I’d argue it has a lot to do with the Obama Administration’s failure […]

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The Filthy Rich Shout “Greed Is Good” and Party With The Politicians

   When I wrote the "The Audacity of Greed" in 2008, I had a chapter called "Vodka and Penises" which detailed a rather unique birthday party thrown in Sardinia, Italy, in 2000 by Tyko CEO Dennis Kozlowski in honor of his wife–it featured vodka spraying from the penis of a replica of Michelangelo’s David. Kozlowski, […]

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Wall Street Just Doesn’t Give Up–While 25 MILLION Have No Work

   I find myself laughing at this–part in disgust and part in admiration for a group of people who have no shame and just do not care what happens to regular people in the country. On the one hand, we have a monumental jobs catastrophe underway. And, on the other hand, you have the people […]

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Three Grand Myths

Last week, I posted a piece, suggesting that the current crisis was really about us and the lack of a movement, not about Obama. A number of people reacted, in emails to me, particularly about the Three Grand Myths–and, over the weekend, I heard yet more nonsense on the Three Grand Myths theme. So, I […]

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Obama Is Not The Issue. This Is About US

    The anger against the president that has been rocketing around many circles of liberal/progressive politics is misplaced.     The crisis we face isn’t about what the president is doing, or failing to do.     We are under siege, fighting the greatest class warfare in perhaps 100 years. And we can expect very […]

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