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Ernst & Young Pays $10 Million To Settle Lehman Brothers Audit Failure Lawsuit
Ernst & Young, one of the Big Four auditing firms, has agreed to pay a $10 million to New York state to settle a lawsuit for overlooking accounting gimmicks by Lehman Brothers, the defunct Wall Street...
Saving the Whale, Again: The catastrophic incompetence of Citigroup
Cockburn discusses the financial recklessness of Citigroup bank and the repercussions.
Why American Financial Markets Have No Relationship to Reality: An Economic House of Cards
Roberts, Paul Craig
The bullion banks (primarily JP Morgan, HSBC, ScotiaMocatta, Barclays, UBS, and Deutsche Bank), most likely acting as agents for the Federal Reserve, have been systematically forcing down the price of...
Capitalism is still in dreamland
Despite the markets' excesses, policymakers think they are in control
Reporting on the World Economic Forum 2008, the author finds the IMF's suggestion to cut taxes and interest to be perpetuating the myth that the crises is one of liquidity rather than solvency.