We have all heard of the London Whale and his role in betting $100 billion (that’s $100,000,000,000)on derivatives and losing several billion for the proud and now humbled JPMorgan. And there’s one article you just have to read to understand why this can happen, has happened, and will happen, and why you – the . . . → Read More: CuriosityCat: The London Whale: The Massive Gambles our Regulators and Banks are taking and why You will pay
Thank heavens for democracy!
In a world taken to the brink of financial implosion because of lax regulations of financial institutions, incompetence of regulatory authorities, pure greed on the part of the stakeholders in our investment banking industries (banks, merchant banks, regulatory agencies, regulatory authorities, lawyers, auditors and the like) and politicians effectively bought . . . → Read More: CuriosityCat: Eurozone: The coming New Deal