From Crossing Wall Street:
… Investors would do well to take a cold shower before forking over money to any proposal that appears too good to be true. Specifically, they should learn to recognize Ponzi schemes, of both the Waserdorf and the Bernie Madoff variety. These schemes have several tell-tale traits:
They promise minimum or steady returns;
They claim their opportunities are exclusive, available only to a select few;
Their means of making money [...]
By Paul B. Farrell, MarketWatch
Yes, America needs new blood, a strong leader like Mayor Michael Bloomberg as the next Fed Chairman. After a quarter century of failed monetary policies under the disastrous chairmanships of Alan Greenspan and his disciple Ben Bernanke, we need a decision-making powerhouse like Bloomberg, Wall Street visionary, high-tech innovator, philanthropist and proven government leader focused on what’s best for the country and all people.
For those who were wondering if the bank bailouts were an attempt to nationalize them; it was. According to Hal Boedeker’s blog at http://www.orlandosentinel.com , George Soros was on CNN’s “Fareed Zakaria GPS” on Sunday. When Zakaria asked Soros if he was satisfied with Obama’s job performance as the President, Soros said that he wasn’t and that he wanted the banks nationalized!
If that’s not enough to make the hair on the back of any [...]
Romney & Son Investigated for 8 Billion Ponzi Scheme
Mitt Romney and his son Tagg Romney have been implicated in a 8.5 billion dollar ponzi scheme with Wall Street investors Allen Stanford and James M. Davis.
The pair are not cleared including their three partners in a court document verified, ongoing legal proceeding involving selling fraudulent CD’s to potential investors.
The statement of fact, includes SIBL, Stanford International Bank, SGC Stanford Capital Management [...]
As of last week, Pelosi had a new villain to blame high gas prices on instead of the President:
House Minority Leader Nancy Pelosi said unscrupulous Wall Street investors have artificially inflated prices at the pump, which are climbing toward $4 per gallon.
The California Democrat called on Congress to take “strong action” to rein in the allegedly excessive speculation, and accused Republicans of protecting Wall Street profits at the expense of [...]
When MF Global filed for bankruptcy last year, some $1.2 billion in customer money vanished from the brokerage firm. The firm’s futures customers, farmers and hedge funds alike, are still without nearly a third of their money.
But the new rules would not prevent a brokerage firm from repeating MF Global’s mistake of misusing customer money, nor would they apply to any futures industry clients like those of MF Global.
Instead, the [...]
When oil prices hit a record $147 a barrel in July 2008, the Bush administration leaned on Saudi Arabia to pump more crude in hopes that a flood of new crude would drive the price down. The Saudis complied, but not before warning that oil already was plentiful and that Wall Street speculation, not a shortage of oil, was driving up prices.
Saudi Oil Minister Ali al-Naimi [...]