WSJ:
California financier Danny Pang was arrested by the Federal Bureau of Investigation on charges of structuring cash transactions to keep them under the $10,000 figure that triggers a report to the federal government.
The accusation, though involving a felony, appears to be a placeholder while federal officials conduct a deeper probe into allegations of fraud involving [...]
Let’s not forget..
written by Mike Stathis (Avaresearch)
For anyone who believes any positive earnings reports from the banks, you probably also believe there will be a real recovery in the economy. These “earnings” are even less credible than those reported by the banks during the height of their Ponzi scheme in 2007. Earnings? From the banks? [...]
Charles Ponzi was one of the greatest swindlers in American history. He has so many descendants you wouldn’t believe..
When you put zero down on the ‘purchase’ of your house and thus had no equity in your house (and re-financed your mortgage each and every time it went up in value) your leverage was literally infinite [...]
we proudly present article written by our guest Jesse from CAFÉ AMÉRICAIN blog
They say a picture is worth a thousand words.
Here is a picture of the US credit bubble, with the deleveraging which has just begun.
It is/was a Ponzi scheme, enabled by the advantages of controlling the reserve currency of the world, pure and simple.
It was [...]