23 Oct 2017

When Bad Guys Win

[sgmb id=”2″] In the Carolina’s Campaign during the Civil War in February 1865, Confederate commander Wade Hampton started executing captured Union soldiers from General William Tecumseh Sherman’s cavalry. A clear violation of the rules of war, General Sherman sent a note to Hampton under a truce flag demanding that he

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13 Oct 2017

Frankenstein Had More Class Than Facebook

[sgmb id=”2″] In response to the Russian meddling in the 2016 U.S. elections, a recent  New York Times article likened Facebook’s deficient advertising policy as an out of control Frankenstein monster. While there is some truth in comparing Facebook, as well as Google and some of the other mega social-media

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09 Oct 2017

Trump and Putin Want to Make Bribery Great Again

[sgmb id=”2″] 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

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01 Oct 2017

New Benefit Offering Could Make Employees Indentured Servants

[sgmb id=”2″] 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

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29 Sep 2017

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

[sgmb id=”2″] 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

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24 Aug 2017

The Retirement Crisis Gets Worse

[sgmb id=”1″] 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

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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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19 Jul 2017

Wall Street’s Continued Self Delusion

[sgmb id=”1″] 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

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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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