Archive for April, 2010
Computerized Front Running and Financial Fraud
How a Computer Program Designed to Save the Free Market Turned Into a Monster by Ellen Brown, While the SEC is busy investigating Goldman Sachs, it might want to look into another Goldman-dominated fraud: computerized front running using high-frequency trading programs. Market commentators are fond of talking about “free market capitalism,” but according to Wall [...]
Full StoryIt’s Impossible to “Get By” In the US
by: Graham Summers of Phoenix Capital Research While the market cheers on the fantastic job “growth” of March 2010, the more astute of us are concerned with a growing tide of personal bankruptcies. March 2010 saw 158,000 bankruptcy filings. David Rosenberg of Gluskin-Sheff notes that this is an astounding 6,900 filings per day. This latest [...]
Full StoryStudy: California Public Pensions Underfunded by Over $500B
From: California Healthline California’s three major public pension funds are underfunded by more than half a trillion dollars, according to a report released Monday, the San Jose Mercury News reports. Gov. Arnold Schwarzenegger (R) commissioned the study, which was prepared by graduate students at the Stanford Institute for Economic Policy Research (Theriault, San Jose Mercury [...]
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