22 Jun 2017

How Bond Traders Lied in the 2008 Housing Recession

This site has never printed an entire news article from another site, but this is a great story about how bond traders lied during the 2007-2008 housing fraud that led to the financial crash. That housing crash was the result of top-down and bottom-up fraud involving realtors, mortgage companies, hedge

Chuck Epstein 0
19 May 2017

Flynn’s Biggest Punishment: Revoke His Pension

Ask any public employee about their salaries and they will always mention their coveted pension. Public employee pensions are one of the last great perks for this employment sector. It is what keeps trash collections going, airplanes flying and the Pentagon staffed (some say, overstaffed) to its highest levels in

Chuck Epstein 0
07 May 2017

Health Care Turmoil Now, Pension Turmoil Tomorrow

First they came for your healthcare. Next, they are coming for your pensions. Yes, it looks like the $3 trillion healthcare industry, as well as pensions in the U.S. are going to go through a major transformation. And, while the final form of the health care is yet to be

Chuck Epstein 0
05 May 2017

Baby You Can Drive My Car Because You Don’t Have One

Looks like it is official: The consumer purchasing frenzy is slowing down and one of the biggest victims is auto sales. According to Yahoo News, after eight years of strong sales, auto lending is slowing down as missed payments rise. That’s partly because subprime loans to people with credit scores

Chuck Epstein 0
24 Apr 2017

An Overdue Parody on Capitalism or How Did Trump Become a Billionaire?

For a much-needed parody about the failure of corporate capitalism, check out this article in the Monthy Review. If you don’t think unregulated corporate capitalism has a lot of problems, how do you explain the sad fact that Trump became a billionaire? This is a very clever, much-needed light parody

Chuck Epstein 0
12 Apr 2017

What Happens When Corporations Hate Their Own Customers

The current commentary explosion on social media of Chicago airport security guards forcibly pulling a man off a United Airlines plane is deeply disturbing because everyone who has flown can relate to some degree of passenger mistreatment. Of course, we have not been pulled from our seats in a closed

Chuck Epstein 0
06 Apr 2017

What the Ontario Pension System Can Teach Americans

One neighbor to the north has come up with a way to over-fund their state pension system, so why can’t it be repeated here? Bucking the industry trend, the Ontario Teachers’ Pension Plan announced it was 105% funded as of Jan. 1, 2017, its fourth consecutive year of being fully

Chuck Epstein 0
03 Apr 2017

Want to Rig the World’s Biggest Market? No Problem.

Want to rig the world’s largest financial market?  No problem. At least that is what prosecutors in the U.S. and the UK are saying when it comes to their charges that three of the world’s largest global banks rigged parts of the $5.3 trillion a day foreign exchange market. Just

Chuck Epstein 0
30 Mar 2017

Don’t Recognize the Republican Party Today? Here’s Why: It’s the John Birch Society

Many veteran political observers say they cannot recognize the Republican Party  that elected Donald Trump. They should not be surprised. The reason is that it is not the Republican Party. It is the party of the John Birch Society that morphed itself into the far-right Libertarian Party. This is why veteran

Chuck Epstein 0
29 Mar 2017

Planning for Retirement Just Got Much Harder

If you thought planning for retirement was difficult, it just got a lot harder. That’s because saving for retirement must now account for two major life changes: you are living longer and you won’t make much on your investments. Now, living longer is considered a good thing since science and

Chuck Epstein 0