Larry Levin's Blog – June 2012 Archive (2)

Occasionally the SEC and other regulators will castigate, actually punish, fraudulent events on Wall Street.  Of course the real punishment is only meted out to individuals and small companies.  Mega banks – the banking mafia – are largely immune.

 

Martha Stewart was convicted of insider trading in 2004 – a relatively small amount – and was sent to jail.  It was an act of fraud alright, but it pales in comparison to the fraud of Wall Street banks.

 

Phil Falcone, a once…

China may be once again beating us at our own game. But instead of ripping off American goods and producing them at a fraction of the cost, this time they’ve copied our monetary policy. And like everything the Chinese do, they are doing it big.



The Chinese government has been pumping the economy with liquidity by printing money at an alarming rate. Much of that money has ended up in the hands of wasteful state-owned enterprises, or SOEs lent to them by a banking cabal.…