There is much hand-wringing in the financial press today as the UBS incident has reminded the whole world that all of the banks were almost certainly lying their asses off over the last three years, when they all pledged to pull back from risky prop trading. Full Story »
Posted by Tanya J. Maurer
An opinion piece, yes, but also a clear presentation of the overall picture when it comes to investment banking. We can always count on the big guys to have their hand in the cookie jar, ready to snatch OUR money if their deals go south--the limits of democracy, and the ability of the rich to manipulate the political process, have become more apparent than usual during this fnancial crisis.
They’re not “rogue” for the simple reason that making insanely irresponsible decisions with other peoples’ money is exactly the job description of a lot of ... More »
There is much hand-wringing in the financial press today as the UBS incident has reminded the whole world that all of the banks were almost ... More »
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