Way to go Shittybank!

[Kestastrophe]

man i wish i was a CEO

i could fuck up all i want while pocketing millions, i would preach about 'hard work' and 'responsbility' while slamming my pro-regulatory critics as communists

America, the libertarian dream? No.  America, the new aristocracy....same as the old aristocracy of centuries past.

This is very true. I have seen this and cronyism first hand in 90% of the jobs that I interviewed for over the past 1 1/2 years.

"Think you should get the job because you are more educated that 91% of the population and have a superior resume? Well fuck you, Joe's friend Bob is in his second year of community college and doesn't know shit, but we is better suited for the position."

house of cards, etc.

[Van Cruncheon]

a pictoral aid to the crisis, supplemented by classic quotes: http://blog.mint.com/blog/finance-core/a-visual-guide-to-the-financial-crisis/

that greenspan quote will be etched on his tombstone


....and an awesome slide deck showing why investment bankers are satan and cdos are their foulest feces: http://docs.google.com/TeamPresent?docid=ddp4zq7n_0cdjsr4fn&skipauth=true&pli=1

[Kestastrophe]

Anatomy of Morgan Stanley Panic
http://online.wsj.com/article/SB122748970896452051.html

Details how the combination of short selling and price manipulation of the credit default swap market (which turns out is quite easy since it is completely unregulated) induced a run on Morgan Stanley shares. Funny part is that rumors started by competing banks led to unjustified prices in the credit default swap market, and consequently almost bankrupted the company. I have a feeling that this is not an isolated incident

unregulated credit default swap market whose capital is 4x great than annualized GDP

[y2kev]

credit default swaps

monoline insurers