21 Aug 2017

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

[sgmb id=”1″] 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,

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18 Aug 2017

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

[sgmb id=”1″] 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

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28 Jul 2017

New Study Again Cites Importance of Low Fund Fees

It is widely recognized in the modern world that the earth revolves around the sun. Now, it is time for more investors to understand that the fees charged to manage your mutual funds in a 401(k) and elsewhere all reduce your net investment returns. There is a direct connection: the

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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

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11 Jul 2017

How College Debt Creates Indentured Servants

[sgmb id=”2″] 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

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22 Jun 2017

How Bond Traders Lied in the 2008 Housing Recession

[sgmb id=”1″] 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

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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

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12 Apr 2017

What Happens When Corporations Hate Their Own Customers

[sgmb id=”2″] The current commentary explosion on social media of Chicago airport security guards forcibly pulling a man off a United Airlines plane is deeply disturbing because everyone who has flown can relate to some degree of passenger mistreatment. Of course, we have not been pulled from our seats in

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03 Apr 2017

Want to Rig the World’s Biggest Market? No Problem.

[sgmb id=”2″] Want to rig the world’s largest financial market?  No problem. At least that is what prosecutors in the U.S. and the UK are saying when it comes to their charges that three of the world’s largest global banks rigged parts of the $5.3 trillion a day foreign exchange

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24 Mar 2017

Fiduciary and Ethical Problems Could be a Minefield for TDFs

[sgmb id=”2″] The $1.3 trillion Target Date Fund market is not all it’s cracked up to be. That should come as a big surprise to millions of people who own these funds through their employers’ 401(k) plans, as well as other who were sold a simple, easy-to-understand, hands-off investment product

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