Immorality and Paul Singer’s Elliott Management – they’re called vulture funds for a reason (video)

There are hedge funds operating in every market where underhand amoral spivs can turn a profit.  One of the most profitable and (you guessed it) ethically questionable is the market for so-called “distressed assets”. A distressed asset is a security or other … Continue reading

The Blackstone and Codere scandal: “just another day on Wall Street” (video)

In the securities industry, much of the multi-trillion dollar trading that occurs in the markets remains un- or under regulated.  One such under regulated market is the trading of Credit Default Swap‘s, the banking industry’s own weapons of mass destruction. … Continue reading

Tim Geithner fails the Jon Stewart stress test (Daily Show extended interview video)

Jon Stewart was exasperated by Tim Geithner's analysis

Whilst up to 10 million home owning Americans continue to face foreclosure as a result of the irresponsible and predatory bank lending that characterised the period up to the Lehman’s bankruptcy, the banks that caused the crash are once again in … Continue reading

How banks have hoodwinked you over high frequency trading (video)

I have just heard one of the poorest interviews on the subject of high frequency trading that I have had the misfortune to come across on the usually excellent Today programme on BBC Radio 4. The interviewer, Evan Davis, had the … Continue reading

Strong regulation is why the Canadian banking system has had no financial crises in 150 years (video)

I promised in a recent post (If Robert Peston thinks that it’s time to stop bashing the bankers he’s wrong) to show you that an innovative, stable and fully functional financial system that avoids regular (or any) crashes is possible.  The United States (and consequently most of … Continue reading

Corporations are legally defined as people except when they commit a crime (video)

Jon Stewart on the travesty of justice that allows businesses like Johnson & Johnson, Goldman Sachs , HSBC, GSK, Pfizer, and a host of other large corporations to negotiate with regulators to pay fines as their pennance for crimes that they have committed whilst none … Continue reading

If Robert Peston thinks that it’s time to stop bashing the bankers he’s wrong (video)

On 30 November, Robert Peston published an article on BBC Online that made my stomach churn.  In the article, entitled “New City same as old City?” Peston reported on two significant news stories of the day. The first was about the … Continue reading

Inside Job: Why ‘banker bashing’ MUST continue until we have real regulatory control of the financial system (video)

If you haven’t seen the film Inside Job yet then whatever you think you know about the financial crisis and its causes is probably wrong. The video* below is NOT the whole film – it consists of the trailer and background interviews … Continue reading