Let’s Hope They Fire the Rest

Here’s something that I would normally call irony if it weren’t so evil:

Wells Fargo Home Mortgage (WFC) has fired a Des Moines worker over a 1963 incident at a Laundromat involving a fake dime in the wake of new employment guidelines. Richard Eggers, 68, was fired in July from his job as a . . . → Read More: Let’s Hope They Fire the Rest

Try This On For Size

The N.Y. Times (the New York freaking Times!) defends the big banks:

BANKS aren’t always popular even in the best of times, but the anger of recent years is unprecedented. The anger, while understandable, has fueled the misguided idea that we should break up the nation’s largest banks. The argument is simple and sound-bite . . . → Read More: Try This On For Size

Tungsten Fake Gold Bars

Been busy at work and home, hence the lack of posts. I’ve recently posted on Tungsten fake gold bars for those who may not have seen it. I’ve posted before on this issue here and here.

Coincidentaly, the Mint has recently bought a “Panalytical wavelength dispersive X-Ray Fluorescence (XRF) instrument” for $470,000. Before I . . . → Read More: Tungsten Fake Gold Bars

Positive Signs

From the Grey Lady:

LAST week, Attorney General Eric H. Holder Jr. proclaimed in a speech that when it comes to fighting financial fraud, the Obama administration’s “record of success has been nothing less than historic.” Such self-congratulation is not only premature, but it also reveals a troubling lack of understanding about what is . . . → Read More: Positive Signs

Government Debt = Terrorism?

The US government’s post-9/11 “war on terror” breathed new life into its long, failed “war on drugs.”  An American public showing signs of increasing disenchantment with the latter was told that drug money fueled and financed terrorism, and that the “war on drugs” was part and parcel of the war on al Qaeda.

Now . . . → Read More: Government Debt = Terrorism?

Profit from Peak Oil: Bob Moriarty

With resource stocks extraordinarily cheap, 321energy.com Founder Bob Moriarty calls them “an opportunity of a lifetime,” in this exclusive interview with The Energy Report. However, investors need to steer clear of the dangers of derivatives. Moriarty explains how the hypothecation hobgoblins associated with these instruments can sneak up on investors and zero out . . . → Read More: Profit from Peak Oil: Bob Moriarty

MF Global and HSBC case

As usual, Zero Hedge and others hype a story way beyond the reality (see here for the Bloomberg story), such as: ZH: ”is whether or not MF Global was rehypothecating (there is that word again), or lending, or repoing, or whatever you want to call it, that one physical asset that it should not have been . . . → Read More: MF Global and HSBC case

Fraud

Pay close attention to this chart: [Source] This is a problem. As a libertarian, I generally view regulation as pointless, needlessly expensive, counterproductive, and anti-liberty. As such, I oppose a good portion of government interference in the economy. However, committing fraud is not simply a matter of failing to comply with ticky-tack regulation. Fundamentally, . . . → Read More: Fraud

Sounds Good To Me

The OWSers finally have a good idea:

The social uprising — called “Bank Transfer Day” — encourages bank customers to take their cash out of big banks and put it in smaller banks and credit unions instead. The movement is ostensibly in response to aggressive fees institutions are rolling out to recover profits lost . . . → Read More: Sounds Good To Me

GreyMail: Is It immoral to Play the Stock Market?

The other day, my brother emailed me to ask if it was wrong to play the stock market.  Since I was going to take the time to write him, I thought I’d share my response on my blog.

In the first place, it’s important to note that the stock market is inherently neutral, morally.  . . . → Read More: Is It immoral to Play the Stock Market?