Posts filed under “Legal”

TDS: Money is the Big Winner of 2014 Midterms


Jon Stewart election 110414 by lookatmyshirt

Category: Finance, Legal, Really, really bad calls, Video

John Oliver: State Legislatures and ALEC

While midterm coverage is largely focused on the parts of Congress that do very little, vital (and bizarre) midterm elections are going unexamined. State legislators pass a lot of bills, and some of that efficiency is thanks to a group called ALEC that writes legislation for them. It’s as shady as it sounds!

 


 

via John Oliver, HBO

 

 

Category: Legal, Politics, Really, really bad calls, Video

Find a financial adviser who will put your interests first

Find a financial adviser who will put your interests first Barry Ritholtz Washington Post, October 26 2014       Today’s column is going to be on the wonky side, but stay with me — it is very important stuff. For investors seeking some help, it can be crucial. If you want financial advice, there…Read More

Category: Apprenticed Investor, Investing, Legal

Exporting Corruption

From Transparency International: The OECD Anti-Bribery Convention, adopted in 1997, requires each signatory country to make foreign bribery a crime for which individuals and enterprises are responsible. The Convention is a key instrument for curbing the export of corruption globally because the 41 signatory countries are responsible for approximately two-thirds of world exports and almost…Read More

Category: Corporate Management, Legal, Politics

Why There Are Two Standards for Financial Advice

> My Sunday Washington Post Business Section column is out. This morning, we look at the various legal standards of care financial advisors must adhere to. The print version had the full headline Why Two Standards for Financial Advice? while the online version was Find a financial adviser who will put your interests first. As I…Read More

Category: Finance, Investing, Legal

John Oliver on Civil Forfeiture (HBO)

Did you know police can just take your stuff if they suspect it’s involved in a crime? They can! It’s a shady process called “civil asset forfeiture,” and it would make for a weird episode of Law and Order.
See?

Category: Legal, Really, really bad calls, Television, Video

Rapidly Changing Social Attitudes

Fascinating comparison of popular acceptance of non-traditional (in some jurisdictions, they were called “Deviant”) marraiges. Note how the slopes of the lines showing legality and popular acceptance have shifted. Not just change, but the rate of change has accelerated. This suggests to me a more progressive attitude on Social Issues. Add Marijuana legalization to the…Read More

Category: Current Affairs, Digital Media, Legal, Psychology

Open Secret of Libor Manipulation

open secretOpen Secret: The Global Banking Conspiracy That Swindled Investors Out of Billions is the new book written by Erin Arvedlund.

The book goes behind the scenes of the elite firms that trafficked in LiBOR based products, including Barclays Capital, UBS, Rabobank, and Citigroup to show the negative impact they had on both ordinary investors and borrowers.

Erin’s claim to fame was a column she wrote in Barron’s in the early 2000s outing Bernie Madoff as a fraud. It was a national bestseller titled Too Good to Be True.

Here is Yahoo:

“LIBOR, the London Interbank Offered Rate, is a global benchmark for interest rates. It’s tied to everything from mortgage rates and student loan rates to complex financial derivatives. And guess what? For a very long time it was rigged.

Now, multiple lawsuits are pending, and that could mean some money back for some investors, traders and consumers.

LIBOR is set each day by a group of bankers, based on estimates of rates at which banks would expect to borrow money from each other. It’s a system built on trust, not math. Regulators were tipped off back in 2007 that banks were fixing rates, and by the summer of 2012, an ugly scandal was revealed. An estimated $300 trillion in financial securities worldwide are based on LIBOR.

Video after the jump . . .

Read More

Category: Books, Fixed Income/Interest Rates, Legal

Big Banks Manipulated $21 Trillion Dollar Market for Credit Default Swaps

  Derivatives Are Manipulated Runaway derivatives – especially credit default swaps (CDS) – were one of the main causes of the 2008 financial crisis. Congress never fixed the problem, and actually made it worse. The big banks have long manipulated derivatives … a $1,200 Trillion Dollar market. Indeed, many trillions of dollars of derivatives are…Read More

Category: Bailouts, Legal, Think Tank

The Rule of Law is Vastly Under-Priced

Cassandra Does Tokyo is a former hedge fund manager and ex NY Trader, who is now living abroad.  This was originally published on September 23, 2014 ~~~ When people prattle-on about tax, it is mostly made from ground-level, with a focus on tax rates. When my most rabid libertarian friends weigh in on the subject,…Read More

Category: Legal, Philosophy, Really, really bad calls