grahams + economy + finance   4

The LIBOR scandal: The rotten heart of finance | The Economist
THE most memorable incidents in earth-changing events are sometimes the most banal. In the rapidly spreading scandal of LIBOR (the London inter-bank offered rate) it is the very everydayness with which bank traders set about manipulating the most important figure in finance. They joked, or offered small favours. “Coffees will be coming your way,” promised one trader in exchange for a fiddled number. “Dude. I owe you big time!… I’m opening a bottle of Bollinger,” wrote another. One trader posted diary notes to himself so that he wouldn’t forget to fiddle the numbers the next week. “Ask for High 6M Fix,” he entered in his calendar, as he might have put “Buy milk”.
finance  economy  bullshit  shenanigans  from instapaper
july 2012 by grahams
Why I Am Leaving Goldman Sachs - NYTimes.com
TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.
finance  money  quitting  resigning  economy  goldmansachs 
march 2012 by grahams
The End is Near Inc. - Boston Magazine
Chris Martenson quit corporate America to craft an unusual life of financial readiness — in case the economy really implodes — and now thousands of Internet followers are buying the message. Literally.
eschatology  panic  paranoia  finance  economy 
november 2011 by grahams
Why Isn't Wall Street in Jail? [longform.org]
Meanwhile, in a demonstration of the government’s priorities, the Justice Department is proceeding full force with a prosecution of retired baseball player Roger Clemens for lying to Congress about getting a shot of steroids in his ass. “At least Roger didn’t screw over the world,” Budde says, shaking his head.<b/lockquote>
Finance  rollingstone  economy  banks  fraud  from instapaper
february 2011 by grahams

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