18 Aug 2017

Lending Industry Faces Huge LIBOR-Related Costs Due to its Own Corruption

The recent news that the worldwide LIBOR interest rate is going to be replaced after years of scandals about it being fixed by some of the world’s largest banks has started a slow-motion earthquake that is going to rattle interest rate lending worldwide. It also is going to be one

Chuck Epstein 0
19 Jul 2017

Wall Street’s Continued Self Delusion

For highly-trained and well-compensated financial experts who routinely delve into the outer limits of stochastic calculus, Black Scholes and Finite Difference Method techniques of numerical options pricing, Wall Street does a lousy job of gauging public opinion. Like most people who have to give self-evaluations and the old saw that

Chuck Epstein 0
18 Jul 2017

Fidelity Title Insurance to Block Coverage of Cannabis Properties

Fidelity National Title Group, a subsidiary of Fidelity National Financial, the largest title insurer in the world, has issued an underwriting bulletin to its agents in 28 states to not insure any land used “for the production or distribution of marijuana.” According to the memo issued June 29, 2017 by

Chuck Epstein 0
11 Jul 2017

How College Debt Creates Indentured Servants

It’s no secret that college debt is a major factor preventing millions of grads from making a down payment on a house.  It’s also no secret that college debt is at its highest levels than any other time in U.S. history. The surprise is that high housing debts impact a

Chuck Epstein 0
03 Jul 2017

Why Retirement Planners Should Be Depressed

Good workers in a corporate society are commonly expected to bracket their personal biases and emotions when they enter the workplace. While this may be changing as more corporations adopt a “work-life balance” position, the majority of people in retirement planning industry, including writers who regularly cover this topic, have

Chuck Epstein 0
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