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Sure, it sounds like something out of psy-fi. But then again so does a bankster-engineered depression, executed by lightspeed supercomputers running proprietary algorithms from math and compsci PhDs. And look how that worked out. I probed deep into the econopocalypse’s wired nether regions for AlterNet to discern how a electronically initiated Flash Crash could wipe [...]
[Scott Thill, AlterNet]
On May 1, China popped the cork on Expo 2010 in Shanghai, a months-long international celebration signifying the ascension of the city, and thereby its parent nation, as a global economic and cultural powerhouse. Meanwhile, in the United States, China’s economic and cultural power has come under mounting fire.
Short-happy hedge funder [...]
[Jim Kunstler, Clusterfuck Nation]
Senator Levin pretty much had Goldman Sach’s Lloyd Blankfein dead in a casket with that now-notorious email from GS’s head of sales and trading, Tom Montag, describing one of their billion-dollar investment “products” as “one shitty deal.” Levin seemed to delight in crossing the boundary into the realm of the unspeakable, [...]
[Jim Kunstler, Clusterfuck Nation]
George W. Bush was onto something in the fall of 2008 when he remarked apropos of the Lehman collapse: “…this sucker could go down.”
It’s my serene conviction, by the way, that this sucker actually is going down, right now, even as I clatter away at the keys — perhaps in slow motion, [...]
[Jim Kunstler, Clusterfuck Nation]
It’s interesting and instructive to read The New York Times’ lead story this morning, Top Goldman Leaders Said to Have Overseen Mortgage Unit. While it pretends to report all the particulars of the huge scandal growing out of Friday’s SEC action against Goldman Sachs, the story really comes off as an attempt [...]
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