US Federal Reserve Initiates Investigation of New York Federal Reserve

Value Walk, By Mark Melin, November 21

After press reports reveal more than a cozy relationship, but sharing of confidential documents, investigation called for on eve of Senate testimony on the issue

After a withering expose in The New York Times that showed bank regulators at the New York Federal Reserve sharing confidential information with […]

Senate Report: Banks Had Unfair Commodity-Market Advantages

Report Notes Deals Between Goldman, Deutsche and Others Drove Up Aluminum Prices

The Wall Street Journal, by Christian Berthelsen & Ryan Tracy, November 19

Washington — A U.S. Senate report on commodity-market activities at big Wall Street banks accuses the firms of being so powerful they were able to influence prices, gain trading advantages and […]

Thomas Merton Listening to the Rain

This, via Monksworks, from Thomas Merton:

Let me say this before rain becomes a utility that they can plan and distribute for money. By “they” I mean the people who cannot understand that rain is a festival, who do not appreciate its gratuity, who think that what has no price has no value, that what […]

Foreign exchange fines: banks handed £2bn in penalties for market rigging

Regulators in US and UK mete out record fines after finding a ‘free for all culture’ on currency trading floors at RBS, HSBC, Citibank, JP Morgan and UBS

The Guardian, By Jill Treanor, November 12

The corruption of the world’s biggest currency dealers was laid bare on Wednesday when regulators imposed £2bn of fines on […]

Americans Face Post-foreclosure Hell As Wages Garnished, Assets Seized

Reuters, By Michelle Conlin, Ocotber 14

New York – Many thousands of Americans who lost their homes in the housing bust, but have since begun to rebuild their finances, are suddenly facing a new foreclosure nightmare: debt collectors are chasing them down for the money they still owe by freezing their bank accounts, garnishing their […]

Slumming It

The gospel of wealth comes for Dharavi

The Baffler, By Daniel Brook, Baffler No. 25 (October? November?)

In a speech to the financial elite of India delivered in Mumbai in 2010, president Barack Obama opted for an unusual form of flattery. He saluted “all the Mumbaikars who get up every day in this City of […]

Brands Are Scanning Your Selfies And Party Photos To Look For Their Logos

Consumerist, By Laura Northrup, October 10

Let’s say that you’re a brand, like Nabisco or the North Face, and you want to see what people are saying about you online. You could do a text search of Facebook and Twitter, but that’s soooo 2009, and you can’t guarantee that people will always label the photos […]

For sale: Systems that can secretly track where cellphone users go around the globe

Washington Post, By Craig Timberg, August 24

Makers of surveillance systems are offering governments across the world the ability to track the movements of almost anybody who carries a cellphone, whether they are blocks away or on another continent.

The technology works by exploiting an essential fact of all cellular networks: They must keep detailed, […]

Who The Fck Is Campbell Brown?

Esquire, By Charlie Pierce, August 6

To paraphrase from my grandmother, the former shepherd lass from the hills and hollows of north Kerry, who the fck is Campbell Brown when she’s at home?

Well, on the basics, she’s from Ferriday, Louisiana, the hometown of Jerry Lee Lewis, and she graduated from Regis University in Denver […]

Gagging in Australia

The Twitterverse and FB are alive with the sounds of Wikileaks latest release, the text of a gag order imposed on any revelation of an ongoing investigation into multinational bribery.

The case concerns allegations of multi-million dollar payments to persons with high-level political connections in AMalaysia, Vietnam and Indonesia in order to secure contracts for […]

If You Had Told Me This Appeared on The Federalist Website….

…I would have laughed in your face. But it did:

Why abandon K-Street, and acknowledge, then reject, the Big Business perception of the GOP? They’ve had the Republican Party’s back for some time, right? In the past, the largest companies favored one party over the other because they understood a pro-capitalist, low-regulation government benefits […]

Losing Sparta

The Bitter Truth Behind the Gospel of Productivity

VQR, By Esther Kaplan, Summer 2014

When Lisa Norris was a kid in Cookeville, Tennessee, her father worked at Acme Boots, and that plant and her childhood were intertwined. One of her earliest memories is of wandering around the factory among bins of leather, breathing in the […]

MERS Loses Major Case in Pennsylvania

Naked Capitalism, By Yves Smith, July 7

The mortgage beat has been quiet of late, but I must confess to being remiss in writing up two recent losses suffered by MERS. One of the big reasons that MERS has taken comparatively few losses in court is that it has often settled cases where it looked […]

Trans-Pacific Partnership talks going on in Ottawa

CBC, By Kristy Kirkup, July 3

Trade officials from Canada and other Asia-Pacific nations are meeting behind closed doors in Ottawa to discuss the Trans-Pacific Partnership, a massive free-trade proposal that could create one of the world’s largest trading blocks.

The TPP currently comprises 12 countries, including Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New […]

Stove-Piping Your Emotions

Dick Cheney has been in the news lately, entertaining us with his informed opinions about the situation in Syria and Iraq. It’s all Barack Obama’s fault. He pulled out of Iraq prematurely, destroying all the hope and promise that the Surge had produced for those unfortunate people. And now the Democracy, American-Style that Dick Cheney […]

Users