Sasquatch of Wall Street – the corn-fed Bankster. Click on the image for a larger view. Thanks to Graham Dugas for the link.  

Karl Denninger gets another nod here. His comments on the minutes of the FOMC (Federal Open Market Committee) meeting are a hoot. From the FOMC minutes: The information reviewed at the August 9 meeting indicated that the pace of the economic recovery remained slow in recent months and that labor market conditions continued to be [...]

Karl Denninger has turned out a great market musing, and no further comment on my part can possibly eclipse this stellar polemic on the Wall Street-Government hostile takeover of Main Street. Go ahead politicians, tell us how important “Wall Street” is to the economy and to you.  Let the thieves and liars continue to pollute [...]

S&P’s President, Deven Sharma, is stepping down. It is written that “Mr. Sharma was leaving the firm to pursue other opportunities, the person familiar with the matter said, without elaborating.” So the Indian who brought the U.S. to its knees is paying the price. That happened quicker than expected.

Here are a couple of gems from Bill Bonner on the Mises Blog (via the Christian Science Monitor). The market is fixed. The SEC is in on it. It’s all part of the zombie system of finance. The dollar pretends to be real money. Debt pretends to be capital. And regulators pretend to be smarter than [...]

With all of the brouhaha over Standard & Poor “negative” outlook on the long-term AAA credit rating of the U.S., I have not come to the conclusion that this is a significant move. While the media bobbleheads and most independent bloggers seem to be scrambling to unwind the drama and make the case that politicians are [...]

A couple of weeks ago, the Wall Street Journal ran an article about the assets on the Federal Reserve’s balance sheet. There isn’t much substance in the short article, except the purpose was to promote a new interactive graphic that will be continually updated to “mark the expansion of the central bank’s balance sheet.” This [...]

A recent headline from Yahoo read, “Madoff to NY Magazine: Government a Ponzi Scheme.” While most people are not interested in hearing mocking political commentary from the swindling Madoff who made-off with the wealth of his unenlightened investors, any slight tilt toward reasoned thought will surely lead one to assess how his abominations pale in [...]

In this interview that was published on mortgageorb.com, I was asked this by the interviewer: “Why is it that strategic defaulting at a corporate level is not actively challenged, but it is being challenged at a consumer level?” That was, of course, a great question. As I wrote, the notion of approving business defaults while [...]

In reference to my previous articles and blogs (“It May Be Financially Irresponsible to Pay Your Mortgage” and “Why a Strategic Mortgage Default May Be Your Best Option),” I discussed this topic at great length. I talked about why there is no moral obligation in the purchase contract. The mortgage is a legal contract, not [...]