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By Ricardo Cortes
$17.95
By Robin Waterfield
$17.99
$21
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John Wiley and Sons
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By Les Leopold —
How did two hedge funds that have fewer than 100 employees each make as much money as Apple Inc., which relies on the hard work of its nearly 30,000 U.S. employees and an additional 700,000 workers and contractors globally?
Posted on Apr 18, 2013
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AP/Jae C. Hong
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By Robert Scheer — President Obama is to be applauded for questioning Mitt Romney’s legacy, although his motives seem to be as opportunistic as those of Romney’s opponents in the Republican primaries who took the same tack.
Posted on May 23, 2012
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Flickr / woodleywonderworks
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Don’t mistake the claims of relative unimportance coming from the big shots on Wall Street before an audience of federal regulators over the past several months for some sort of newfound humility. (more)
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Wikipedia
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The founder of the Galleon Group hedge fund, Raj Rajaratnam, faces 25 years in prison after a jury convicted him on 14 charges related to a six-year insider-trading binge that netted him more than $60 million. (more)
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University of California Berkeley
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A U.K. journal offers a great primer on why our public universities—especially California’s—are in such a dismal state these day.
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Photo illustration
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Scott Brown of Massachusetts has decided to support the anemic financial reform bill because, as The Washington Post reports, “he got nearly everything he wanted.” The bill is now expected to pass with the support of at least two other Republicans, including Maine’s Olympia Snowe.
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AP / Virginia Mayo
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Looks like banking executives in EU member nations will have to settle for slightly less ginormous bonuses in the coming year, once the European Parliament puts its official stamp on an agreement to limit banking bonuses and severance packages.
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AP photo / Louis Lanzano
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By Robert Scheer — Bernard Madoff should be exhibit A in why the dark world of totally unregulated private money managers and hedge funds should be opened to the light of systematic government supervision. Instead, he is being treated as an aberrant menace.
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Flickr / World Economic Forum
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Lawrence Summers is the man President Obama turns to for insight into the economy, so it’s more than a little disturbing that the very financial institutions the taxpayers are now rescuing—to the tune of nearly $3 trillion—paid Summers almost $8 million last year. Goldman Sachs & Co., a major beneficiary of the government’s largesse, paid him $135,000 for one speech.
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Flickr/dcJohn
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Faced with the glaring problem of indulgence and intractability on the highest tiers of Wall Street’s corporate behemoths, the Obama administration is putting together a plan to make financial institutions more accountable and more transparent to the government and to the taxpayers who granted them buoyancy.
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So, CNBC hyperpundit Jim Cramer was the very picture of contrition during his cringe-tastic appearance on Thursday night’s “Daily Show.” But let’s revisit this moment from 2006—when Cramer brought a much haughtier version of himself to TheStreet.com TV to discuss, among other delightful topics, how to “create a new truth to develop a fiction” whilst in “hedge-fund mode”—shall we?
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By Andy Borowitz — The satirist reports that, desperate to protect their endangered fortunes, thousands of the nation’s leading hedge-fund managers converged on Washington today in “The Million Mercedes March.”
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How America Became a Third World Country: 2013-2023
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