naked capitalism Wed 2009-12-16 15:18 EST

Hosptial Cleaners Are Worth More Than Bankers (and Quelle Surprise, Bankers Destroy Value!)

A provocative report by the New Economics Foundation has made an effort to put a price tag on the broader costs and benefits of various types of work. As quoted in the Financial Times...The authors assume the financial crisis and recession would not have happened without City bankers engaging in risky, opaque and complex transactions. Applying a guess about the cost of the recession on the rest of society, they estimate top City bankers des-troy £7 of value for every £1 they are paid privately.

bankers; Bankers Destroy Value; Hosptial Cleaners; naked capitalism; Quelle Surprise.

naked capitalism Thu 2009-08-27 10:50 EDT

Quelle Surprise! Fed Uses Scare Tactics to Try to Forestall Loan Disclosures

Yves Smith

In a show of how much our government thinks that serving the financial oligarchy, rather than the citizenry, is its prime duty, the Fed is fighting to stop the court-ordered disclosure of who borrowed money under the Fed's various lending facilities. The reason I lump the Fed in with "the government" is that the central bank has been serving as an off-balance sheet entity of the Treasury for quite some time. And not only are the Fed and Treasury acting in near lockstep, but there has been no meaningful change in the government stance towards the banksters. Yes, Team Obama makes more of a show of trying to rein them in, but push comes to shove, it's merely Paulson version 2.0: same content, better packaging. Paulson's success in muscling...

Fed Uses Scare Tactics; Forestall Loan Disclosures; naked capitalism; Quelle Surprise; trying.

Tue 2009-06-16 00:00 EDT

naked capitalism: Quelle Surprise! Bank Stress Tests Producing Expected Results!

Bank Stress Tests Producing Expected Results; naked capitalism; Quelle Surprise.

Wed 2009-04-01 00:00 EDT

naked capitalism: Quelle Surprise! Who Gained From AIG Rescues? Goldman (and Deutsche) Tops the List (and Willer Buiter is REALLY Angry!)

AIG rescue; Deutsche; gains; Goldman; list; naked capitalism; Quelle Surprise; really angry; Top; Willer Buiter.

Tue 2009-02-24 00:00 EST

naked capitalism: Quelle Surprise! Big Banks Who Got TARP Funds Reduced Lending

big banks; naked capitalism; Quelle Surprise; TARP Funds Reduced Lending.

Thu 2009-01-15 00:00 EST

naked capitalism: Quelle Surprise! Banks Increase "Mark to Make-Believe" Assets to $610 Billion

610; assets; banks Increasingly; Make-Believe; marked; naked capitalism; Quelle Surprise.

Wed 2008-08-13 00:00 EDT

naked capitalism: Quelle Surprise! Banks Taking Big Losses on Real Estate Disposals

huge foreclosure loss severities expected

Banks Taking Big Losses; naked capitalism; Quelle Surprise; Real Estate Disposals.

Fri 2008-06-13 00:00 EDT

naked capitalism: Quelle Surprise! Imports Lowering Inflation and Complicating Fed's Job

Complicating Fed's Job; Imports Lowering Inflation; naked capitalism; Quelle Surprise.

Fri 2008-05-16 00:00 EDT

naked capitalism: Quelle Surprise! Banks May Be Gaming ECB Liquidity Facility

bank; Gaming ECB Liquidity Facility; naked capitalism; Quelle Surprise.

Sat 2008-04-12 00:00 EDT

naked capitalism: Quelle Surprise! Unemployment Stats Don't Capture Joblessness

understating unemployment

Capture Joblessness; naked capitalism; Quelle Surprise; Unemployment Stats.