Within minutes of my introduction to the world of short selling hedge funds, I encountered the analogy that remains the best suited to describe the truth to which they subscribe: Bizarro World.
There is some evidence suggesting the federal government might be spending tens of billions of dollars to deal with the accumulation of failed trades caused by illegal naked short selling. If that's true, we're probably screwed.
Over the next few minutes, you’re going to learn something you should have already known, but almost certainly do not. You’re going to learn more about what really sparked the global financial meltdown. You’re going to learn that it was a criminal enterprise. You’re even going to learn who might have been responsible.
the evidence shows that Rocker Partners hedge fund first approached Bethany McLean about Fairfax on December 7, 2006. Bethany then met with Rocker Partners employee (and former SEC attorney) Richard Sauer 11 days later, and presumably began work on what would become her March 6, 2007 article The inside story of a Wall Street battle royal shortly thereafter.
There’s no sense denying it: reporters depend on sources, and in the mind of most business journalists, a…
December 16, 2008
Bernard L. Madoff’s fraud is “stunning,” says the SEC. It is a crime of “epic proportions.” But, says…
December 13, 2008