Wall Street = Marie Antoinette

Finally! Someone sums up the crimes and misdeeds of Wall Street for which they were sent to...um, they were punished...um, for which they were handsomely rewarded by the government so they could go out and continue the same practices that led to the financial crisis.

Wall Street is the Marie Antoinette of our time: "Let the peasants eat cake! While we rack in billions of dollars of profit. Oh, but if we lose our shirts you taxpayers will pay for it."

The Quants

I need to read this book. Sounds pretty interesting. Another example of so-called "brilliant minds," almost bringing down the financial system. Good thing we have the Fed around to print unlimited money on demand. I know we'll never have to pay the piper on that.

The Fed's Gift to Savers

The Fed's gift to savers is unprintable, but the editor of Fortune magazine tones it down in the Washington Post. Good article.

Until rates go up, Wall Street will be chowing down on essentially free money, while fixed-income people living off their investments will have to eat into their capital, take more risk or reduce their standard of living. A nice reward from their government for a lifetime of saving. Thanks for nothing, guys.

Where Did All Those "Investment Bankers" Get Their Education?

A pretty clever article exploring where all those brilliant guys on Wall Street who imploded, not only their own firms, but the economy as well, were educated. First place? Harvard Business School.

Need Proof that Lax Regulation Blew Up Wall Street?

Here it is. Oh by the way, these are the same guys who are now going to "fix" the problem. See post below. LOL.

Black Sunday Gallows Humor

Good morning, your money is on fire!