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The bank was not in substantially worse shape than other major Wall Street banks. ... They put the pillow over the face of Lehman Brothers and they put her to sleep. The Lehman bankruptcy is widely considered to be the watershed event that changed the rules of the game for those Wall Street banks considered “too big to fail.” The bankruptcy option was ruled out once and for all. The taxpayers would have to keep throwing money at the banks...
2009-09-08
finance bankruptcyBill Maher explains why you should move your money out of a "too big to fail" bank and put it into a local community bank or credit union.
2010-01-12
Bill Maher crisis finance bankThe people have been lulled into a false sense of safety under the ruse of a perceived “economic recovery.” Unfortunately, what the majority of people think does not make it so, especially when the people making the key decisions think and act to the contrary. The sovereign debt crises that have been unfolding in the past couple years and more recently in Greece, are canaries in the coal mine for the rest of Western “civilization.” The...
2010-02-22
economy crisis crash finance banking depression dominoGoldman Sachs is under criminal investigation for the way in which it sold complex mortgage-backed products to clients.
2010-04-30
Goldman Sachs bank USA criminal finance crisis risk speculationChina has kept the currency from rising by selling yuan for dollars and has built up massive foreign exchange reserves as a result. The way China invested those reserves is seen by many economists as a key factor in the recent international financial crisis.
2010-06-19
China yuan currency USA dolla manipulation finance crisisThe reason our financial system has routinely gotten into trouble, with periodic waves of depression like the one we’re battling now, may be due to a flawed perception not just of the roles of banking and credit but of the nature of money itself. In our economic adolescence, we have regarded money as a “thing”—something independent of the relationship it facilitates. But today there is no gold or silver backing our money. Instead, it’s...
2010-10-28
money debt finance economy fraud
Financial institutions may soon change what they trade or where they do their trading because of the speed of light.
2011-03-23
stock market speculation finance physics speed light business ocean location