09 Oct 2017

Trump and Putin Want to Make Bribery Great Again

One of the less visible goals of the Trump administration is that it wants to allow American corporations to bribe foreign governments to win business. Trump expressed this goal in a discussion with Secretary of State Rex Tillerson, as reported in the New Yorker. Tillerson, the former head of Exxon

Chuck Epstein 0
01 Oct 2017

New Benefit Offering Could Make Employees Indentured Servants

If you are sorry about your meager 4% annual raise or if you did not receive anything at all, you can take heart: Now, there is a new employee benefit being offered to make it easier to borrow from your own future wages. Just like the poorly-regarded pay-day loan industry,

Chuck Epstein 0
29 Sep 2017

Give the Colony a Break: Puerto Rico’s Devastating Disaster Story

The poor disaster relief response to Puerto Rico has rightfully attracted national attention, but the many explanations about the failures to alleviate the suffering fail to address the main reason: Puerto Rico is a colony. This means the island, now classified as a commonwealth, is free to be financially and

Chuck Epstein 0
24 Aug 2017

The Retirement Crisis Gets Worse

As the stock market continues to make gains, so does the retirement crisis. The latest evidence comes in the form of a new study  from CareerBuilder  and Harris polls shows that almost 8 out of 10 American workers live paycheck to paycheck to make ends meet. This is an increase of 

Chuck Epstein 0
21 Aug 2017

Nation’s Largest Banks Sued by Pension Funds for Market Manipulation

It looks like the nation’s biggest banks cannot help preying on their own customers, large and small.  The latest case involves the esoteric world of securities lending, which is used for short selling and for hedge funds and is an important means of eliminating “failed” transactions.  In exchange, the lender

Chuck Epstein 0
18 Aug 2017

Lending Industry Faces Huge LIBOR-Related Costs Due to Bank Fraud

The recent news that the worldwide LIBOR interest rate is going to be replaced after years of scandals about it being rigged 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
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
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
02 Jun 2017

Concerned About Jobs for the 21st Century? What About Retirement?

Robotics, automation, globalization, the Uber and gig economies have all captured the attention of anyone planning a career or their life over the future decades, but what is missing is the link between these new definitions of work and what happens when work ends. It would be logical to assume

Chuck Epstein 0