Financial Rat Indicted

Breaking news from the Financial Times: Financial Rat Indicted

"Rajat Gupta, the former head of McKinsey [Group hedge fund], will face criminal charges as soon as Wednesday for allegedly passing Goldman Sachs earnings data to Raj Rajaratnam, the hedge fund manager, while serving on the bank’s board, people familiar with the matter say."

The aforementioned Raj Rajaratam was convicted earlier for the same deal and is now sitting in jail, serving a ten year sentence for his part in this insider trading scenario. The case is strong, as apparently the FBI/SEC had been wiretapping these sleazeballs for some time.

Source: FT.com 

current-events

White House: Mum's the word on the US dollar

Believe it or not, Dana Perino, the bubble-headed bleach blonde who masquerades as the White House Press Secretary, let it be known that she is not allowed to talk about the shrinking dollar, under penalty of getting shitcanned.

Maybe if we don't talk about it, the problem will go away.

current-events

Take my wallet, please

Jim Hightower hits the nail on the head yet again in this column about the moral bankruptcy of bankruptcy. This trick of corporate officers bankrupting a company, leaving the employees high and dry and then jetting off for foreign parts (or other companies for instance. Remember Eastern Airlines?) just steams me no end. Why on Earth does this shit just keep going on and on? Surely even the blockheads that crowd Wall Street can see that this failure to honor even basic commitments is just barbaric. The worst sort of social Darwinism that, unchecked, will devour everyone, leaving a corporate state beholden to no one.