Stacy Summary: Anyone online at 8pm (GMT), you can listen live online (just click the appropriate button the page below). And those in the UK can listen live on Five Live or download it via iPlayer.
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Stacy Summary: Anyone online at 8pm (GMT), you can listen live online (just click the appropriate button the page below). And those in the UK can listen live on Five Live or download it via iPlayer.
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Posted in General Information
Stacy Summary: A toast to all the commenters on the site. Old and new. Thank you so much for visiting the site with your conversation, headlines, links and debates. I am especially grateful for the wide diversity of opinion we have here as too many sites end up with groupthink where there is little challenge or debate. So here’s to the most frequent contributors and commenters – @Youri Carma, @frances snoot, @Danny, @Mother Earth, @Mike/Liverpool, @Bonn, @Mep, @Phil/Germany, @david, @Ptah, @Mongo, @ronron, @Dedo, @buddhabob, @ Mini US, @Fibon11235, @aleix1979, @Joe, @SG, @Richard@lattitude30N, @Crumpet Muncher, @California Doctor, @Veritas, @The Man from Glad, @Apocalypto, @harry_w, @turbulence, @marietta, @Breasal, @advocate001, @Schralper, @Vega Man, @Rastaman, @Daniel S, @The Underfundedmentalist, @TJ, @William of the North, @Giusseppe Bagodonutti, @maxkeiser, @naomi, @Speirsy, @ES, @mike, @Gordo, @HookedonKoolaid, @norcalkid, @FranSix, @Mr Unemployed, @Mr. Holipsism, @warburg sidney, @Ah.Nix, @OP, @Fred’s Family, @jon, @Blink, @Marc Authier, @Chalcedonite, @Boinky, @Max Power, @13BlackCats, @T, @Michael Le Couteur MSCD, ret’d, @paganrongs, @zmoore, @Frank Hope, @Teresa Ortega, @WL, @Palantíri, @BondiBhoy, @Photoception, @henk, @AM, @Jim ODonnell, @Will, @Omega, @Hullaballoo, @Rian Orr, @ItalicBold, @gb, @Catfish Rushdie, @Bill Stewart, @epha, @dan valley, @Supergeek, @Scott from Oregon, @Tofu Charlie and to all those who I forgot to list (sorry!), are new or less frequent contributors, a toast to another year of the Great Depression 2 down, may there be only a few more to go . . .
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Stacy Summary: Episode number 6, with guest Ravi Batra.
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Posted in Max Keiser Video
Tagged keiser report, max keiser, ravi batra, stacy herbert
Stacy Summary: ‘Arson?’ Or, ‘simple hedge?’ We’ll be asking Janet Tavakoli this on the Keiser Report in the New Year. In the meantime, your thoughts . . .
Update: (Janet Tavakoli just emailed this in response to the above article)
From her website:
Goldman Sachs recently acknowledged that I warned (using fact based analysis) about these grave risks at the time it manufactured value-destroying CDOs, but it said my opinion was in the “minority.” Goldman would have you believe it the financial equivalent of a member of the Flat Earth Society in the lifetime of Galileo Galilei. Just as a competent long-distance navigator does not care how many nonprofessionals are members of the flat earth society, one does not rely on whether an opinion is in the minority or majority as a basis for performing appropriate due diligence when underwriting a securitization. A reasonable man expects a long-distance navigator to have some competence in his craft, and a reasonable man can expect a certain level of competence (and standards) from underwriters. A basic investigation of the underlying collateral revealed grave risks–not reflected by the ratings–compounded by suspect securitization practices. Public money was used to bailout AIG in an extraordinary crisis, and the general public are not sophisticated investors. The argument that AIG was a sophisticated investor no longer applies as a reason to avoid consequences of this behavior.
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Stacy Summary: I believe many of us were complaining about the shoddy nature of many products in the shops these days. Well, apparently, manufacturers are moving production back to UK due to the shoddy quality and high freight costs.
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