Financial Pay-to-Play Rituals, Play Acting and Masks
“Things are not what they seem, skim milk masquerades as cream”
— Gilbert and Sullivan“All the world’s a stage, And all the men and women merely play...
The Credit Default Swap Moral Hazard And Top Five US Banks
Warren Buffett has described derivatives “as weapons of mass destruction.” Credit default swaps are portrayed as financial arrangements too difficul...
The Unwashed TARP
There is a saying that is no more truer than in politics, “One hand washes the other.” Given the recent circumstances regarding TARP (Troubled Asset R...