hedge funds

Although the repo market is little known to most people, it is a $1-trillion-a-day credit machine, in which not just banks but hedge funds and other “shadow banks” borrow to finance their trades. Under the Federal Reserve Act, the central bank’s lending window is open only to licensed depository banks; but the Fed is now […]

Paul Singer's Elliott Management company has made billions by buying large stakes in American companies, then firing workers, driving up short-term share prices, and then selling out quickly before the companies collapse.

There is no doubt about it: by far and away the largest group of articles I received this week were about the California fires, […]
The post THE CA FIRES: STRANGENESS SQUARED appeared first on Giza Death Star.

The cover of Naomi Klein's best-seller The Shock Doctrine.

This week on the New World Next Week: Researchers warn of fingerprint theft from peace sign photos; more human workers made redundant by AI; and madness swirls around the inauguration spectacle in Washington DC.

This week on the New World Next Week: Researchers warn of fingerprint theft from peace sign photos; more human workers made redundant by AI; and madness swirls around the inauguration spectacle in Washington DC.

John Paulson, who has managed to accrue 10 billion lightly taxed dollars for himself, made his fortune in 2007, using credit default swaps to bet against the subprime mortgage market, profiting as people were kicked out of their homes. A few years later he threatened that he would move to Singapore if his taxes went up.

One proposal for Obama's Legacy Library, a building that won't build itself (view 1, discussed here). by Gaius PubliusTurns out that the president, currently Obama, acting alone, could personally end the egregious "hedge fund tax loophole," the one only a certain class of wealthy person qualifies for.

Wall Street on Parade
At the Democratic debate at Drake University in Des Moines, Iowa on November 14, 2015, Hillary Clinton attempted to portray herself as the fierce enemy of hedge funds. She told the audience the following:

It was treated as huge news Friday evening when Nick Confessore and Maggie Haberman reported that Paul Singer has decided to back Marco Rubio. The media made such a big deal out of it because Singer is one of the biggest financiers of right-wing politics in America.