Lampert’s retail experiment implodes. Sears down 93% under his leadership

Hedge fund titan and failed retail exec Eddie Lampert finally admitted Wednesday what I have been saying for some time, Sears & Kmart are in trouble and may not make it. Lampert, in an annual filing said,  that “substantial doubt exists” about [Sears] ability to continue as a “going concern.” Meaning a bankruptcy filing could […]

Investors on the hook — literally — for subprime car loans

Yesterday, I wrote about the looming debt crisis in student loans and how the default numbers were escalating. I said then that after 2008-2009 Great Recession how Wall Street moved out of the mortgage paper selling sector and moved into the less regulated student and car loans, since these debt instruments did not fall under […]

Wall St. banks $1 trillion market cap feast on backs of college students

Since the Great Recession of 2008-09 the total amount of consumer borrowing overall has dropped 1%, according to figures from the New York Federal Reserve Bank. Mortgages and home equity lines of credit, the two debt instruments that allowed Americans to use their homes as an ATM after the Internet bubble popped in 2000, have […]

Russian Roulette continues as another government official dies

As I have written about in the past, I look at things from the macro point of view, which is what brought me to write the award-winning Banker Suicide stories. While most journalists — including myself — wrote about bankers killing themselves, I looked at many of these cases together to stitch together the commonality […]

Trump can’t drain swamp because he is mired in it

Happy St. Patrick’s Day to all. While Patrick is said to have driven the snakes out of Ireland, which is metaphor for the Irish conversion to Catholicism, President Trump is not having as much luck draining the swamp to thoroughly mix that metaphor. Look at the Trump administration. The president has told Americans what he […]

Going hiking with Yellen can be dangerous

To no surprise to anyone on the Street, Janet Yellen raised rates Wednesday by 0.25% to a range between 0.75% to 1.0%. I will not address the two or perhaps three more rate hikes for this year that Yellen spoke of since we do not deal with fantasies here. I had been writing that while […]

Send lawyers, guns & money to ailing retailers

As we wait for the double: Dutch election/Fed rate decision, I wanted to look at one sector that has suffered since the Trump election. Gun sales and FBI background checks have fallen hard since the election as the fear of confiscation and regulation on sales has disappeared. On Monday, Remington announced 120 people would be […]