April 19, 2009

Goldman Sachs And “The Club”: Masters Of The Universe

Blankfein. Steel. Thain. Paulson. Kashkari. Right Soup readers know that I spent my first working decades in the viper pit of Wall Street; my formative years were at the recently slain (some say by Goldman Sachs) Goliath Bear Stearns. Anyone who has spent any time at all in my former profession knows what “Goldman Sachs […]

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March 10, 2009

Bernie Madoff’s Going To The Big House

Mega swindler Bernie Madoff will plea guilty in 2 days to 11 felony counts related to his record-breaking Ponzi scheme. The charges include securities fraud, mail fraud, wire fraud, three counts of money laundering and filing false statements with the Securities and Exchange Commission, said Assistant U.S. Attorney Marc Litt. “There is no plea agreement,” […]

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December 16, 2008

Bernie Madoff Screwed Global Banks, US Cities As Well As Individuals

We’ve reported on the huge scandal caused by former NASDAQ chairman Bernie Madoff, who created a Ponzi scheme with his hedge fund. Bernie actually formally advised the U.S. government on ways to protect investors from scam artists! He perpetrated of one of the largest financial frauds in history, didn’t just rip off a bunch of […]

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December 12, 2008

Prominent Investor Jim Rogers Says US Banks Are Bankrupt

Jim Rogers, one of the world’s most prominent international investors, called most of the largest U.S. banks “totally bankrupt” yesterday, and said government efforts to fix the sector are wrongheaded. Speaking by teleconference at the Reuters Investment Outlook 2009 Summit, the co-founder with George Soros of the well-known em>Quantum Fund, said the government’s $700 billion […]

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December 12, 2008

Bernie Madoff’s $50 Billion Fraud May Spill Over To More Of Wall Street

Bernard Madoff, a huge force on Wall Street for decades, was arrested and charged yesterday with allegedly running a $50 billion Ponzi scheme in what may rank among the biggest frauds EVER. Madoff is a former chairman of the Nasdaq Stock Market, and is best known as the founder of Bernard L. Madoff Investment Securities […]

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December 4, 2008

Phantom Bonds And CDs: How Wall Street Is Screwing The Government

Source: Susan Trimblath, P.h.D The “credit crisis” is largely a Wall Street disaster of its own making. From the sale of stocks and bonds that are never delivered, to the purchase of default insurance worth more than the buyer’s assets, we no longer have investment strategies, but rather investment schemes. As long as everyone was […]

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