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- Is JPMorgan Hiding Losses?
- Avery Goodman submits: On Saturday, the Financial Accounting Standards Board (FASB) told banks that “mark to market” accounting standards would be relaxed and that they could use internal “models” to create fantasy prices on unsalable, and what might be considered by some to be worthless, assets. The return to...
- External links 2008-10-15
- Let the Detroit Automakers Fail
- Avery Goodman submits: Bailing out the three big U.S. based carmakers is a very bad idea. All three have incompetent management, bloated pay scales especially at the management level, too many legacy obligations, and vastly overpaid line workers, compared to their competitors who produce in America, and abroad....
- External links 2008-11-20
- Will COMEX Default on Gold and Silver?
- Avery Goodman submits: With investment advisors like the former NASDAQ Chairman Bernard Madoff being prosecuted for fraud, it is natural for people to begin to seek stores of wealth that are not subject to counterparty risk. The precious metals have been relatively safe stores of wealth for the past...
- External links 2008-12-22
- Buying Up BofA: Booyah!
- Avery Goodman submits: Whenever I see irrationality in the markets, when people are either panicking in the streets or maniacally counting their profits before they exist, I like to take the opposite bet. In October of 2007, when Bank of America was selling for $51...
- External links 2009-01-22
- Outlook Is Bleak for Bank of America
- Avery Goodman submits: Those who read my last column know that I thought that, when it was selling in the $5 per share range, Bank of America BAC was a screaming short term buy. When it went back up almost to $7, on Monday...
- External links 2009-01-27
- Currency Wars: Swiss Franc Edition
- Avery Goodman submits: On March 12th, 2009, there was panic in the currency streets. Safe haven investors and speculators alike were hiding from canon fire being launched out of the Swiss National Bank (SNB). Meanwhile, they were selling every Swiss franc in sight....
- External links 2009-03-16
- NYSE Runs Out of Gold Bars: What Happens Next?
- Avery Goodman submits: In the first Great Depression, the government tried, for several years, between 1929 and 1933, to maintain a fiction that the U.S. dollar was still convertible and as “good as gold”, in spite of having irresponsibly printed more dollars than they had gold to...
- External links 2009-03-27
- Fed Minutes: We Have Not Yet Even Begun To Print!
- Avery Goodman submits: The Federal Reserve is a unit of quasi-government, with no taxing authority or income of any kind, except that obtained from the U.S. Treasury and its client banks. However, it can and does create money, in the form of liquidity, which it then sends to...
- External links 2009-04-09
- Federal Judge Rakoff Slams SEC Complicity in the Bank of America Fraud Case
- Avery Goodman submits: In the past, the SEC, CFTC, and other supposed regulators became accustomed to rubber stamps on numerous settlements that have whitewashed executive misconduct, at the expense of shareholders. This process, encouraged by the fact that many so-called "regulators" look forward to quickly return to the...
- External links 2009-09-15
Additional Resources
- Wells Fargo vs. Citigroup: A Legal Analysis
- Avery Goodman submits: Robert Steele, former Undersecretary of the Treasury and now President of the Wachovia Corporation WB, states, in an affidavit, filed in the litigation with Citigroup, that his company came very close to failing last week. It had put itself up for sale, and two major banks...
- External links 2008-10-07
- Why I Sold Lowe's Short
- Avery Goodman submits: I’ll never understand why, back in August and September, so many people were buying the home improvement retailers. They bought enough shares to pump the price up into the mid-20s. As far as I can see, the retail business is going to be very difficult over the coming...
- External links 2008-10-09
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