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Too Big Has Failed
Let's reform Wall Street for good
Let's reform Wall Street for good
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Too Big Has Failed's posts

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Nobody beats PBS Frontline when it comes to skewering Wall Street. Their latest, "To Catch a Trader," is as good as anything they've done.

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"The case was over 10 years in the making and involved offenses that took place long before the 2008 crash. All three defendants were convicted in May 2012, with Goldberg ultimately getting four years and the other two getting three.

Now, they're all free. A New York federal judge last week ordered their convictions overturned in a quiet Thanksgiving-week transaction."

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"I worked on Wall Street for 20 years. There, people regularly abuse rules and regulations, trying to exploit loopholes. This does not embarrass them – many take pride in it."

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"For every $1 spent on financial education $25 is spent on financial marketing, according to a yearlong study from the Consumer Financial Protection Bureau." Wow.

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‘‘It is a jolt of reality, and the reality for JPMorgan is ugly,’’ said Erik Gordon, a business and law professor at the University of Michigan. ‘‘The bank is highly visible and greatly disliked.’’

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This is great advice finance advice. If the biggest banks were this honest, they'd be a lot smaller (because they wouldn't be making so much money from needless investment fees). h/t +Derek Pennycuff 
Personal finance for engineers: http://read.bi/1fie5zo - very useful!
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Here are the details:

Congress just approved what could summed up as a total deregulation of derivatives.

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A story about Wall Street corruption on Upworthy. Totally worth looking into.

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The Digital Journal interviewed us about activist memes!

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Stewart skewers a host of journalists who adamantly defend JPMorgan's recent shady practices. Nightmare on Wall Street, indeed.
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