With Steve Mnuchin’s Senate confirmation Monday night, a White House battle is staged. Mnuchin will be in the Treasury building on the Great Mall and National Economic Council director, Gary Cohn will be at the head of the mall at the White House. While both men come from Goldman Sachs, Mnuchin is second generation banker […]
There are a few reasons why crude oil having a $20 handle is not beneficial to equity market and US investors. So while saving $2.00 on a fill up to pay for a cup of coffee seems Ok, the $2,000 you lost in your 401(k) is not. Look at why gas is so cheap. The […]
Wall Street and Washington are playing a crude joke on the US economic recovery.
Higher gasoline prices have drained over $25 billion from the US economy since September, as skyrocketing oil costs have eaten into consumer’s wallets.
But the issue isn’t supply — it’s Ben Bernanke and hedge funds.
By MICHAEL GRAY Up until now, large banks and mortgage servicers have stated that they used false documentation and illegal signings and notary signatures to alleviate the huge backlog of foreclosure processings. Although filing a false document with a US court would be fraudulent if you or I did it, this is only the tip […]
By MICHAEL GRAY As Wall Street banks pull back of foreclosures in lieu of fraudulent filings on the part of the processors, how far are we away from a general amnesty of first mortgages. A foreclosure motion should be challenged by every homeowner on the grounds that the banks — for the most part — […]
I apologize for the lack of posts recently, but I have been promoted in the business section and my time is at a premium until I get my legs under me. And yes I am still on top of JPM and its precious metals troubles. Please see new post below. By MICHAEL GRAY The smartest […]
By MICHAEL GRAY Let’s put the fraud charges against Goldman Sachs and its employee, Fabrice Tourre, in perspective. Because unlike Fabrice, I think it stinks. Mr. Tourre is a trader and vice president in London for the bank. He is one of many hundreds of vice presidents sitting in cubicles around the world for Goldman […]