Author Archives: Yves Smith

Neoliberalism Drives Climate Breakdown, Not Human Nature

Attempts by the New York Times to blame humanity as a whole for climate change let the real culprits off the hook.

Links 8/7/18

Oxford Professor Phalippou: Since 2006, Private Equity Has Produced Only S&P 500 Returns While Reaping $400+ Billion in Fees

Oxford professor Ludovic Phalippou gives a decisive debunking of the claim that private equity outperforms.

Bill Black: Pre-Crisis “4506-T Studies” Showed Massive Fraud in Liar’s Loans; Fed Ignored Warning, DoJ Refused to Target Implicated Banksters

Yet another proof that the authorities were given evidence of widespread mortgage fraud before the crisis and chose to do nothing about it.

Trump’s Illegal Economic Sanctions Against Iran Start Up

With its newest sanctions, the Administration ratchets up its “regime change in Iran” strategy. Not a good look.

How Hedge Fund Activists Coopted “Shareholder Democracy”

How hedge fund activists, who largely operate as a type of corporate raider, have subverted the notion of “shareholder democracy” and what can be done to rein them in.

Wall Street Journal Parrots SEC’s Excuses for Big Delays in Whistleblower Payouts

The SEC succeeded in spinning the Wall Street Journal’s story on the large delays in paying out whistleblowers whose tips led to successful enforcement actions.

CalPERS Loses Over $500 Million on Botched Timber Investment; May Have Sold at Bottom of Market

CalPERS wrongfoots another big alternative assets investment, this one in timber.

Links 8/4/18

3 Blokes In The Pub…Talk No Deal Brexit

Nitty gritty details of what happens with a crash-out Brexit, made accessible and even entertaining.

Meetup in Minneapolis This Thursday, August 9

The Minneapolis meetup group strikes again! Hope you can join the fun!

Inequality and Ordinary Living Standards in Rich Countries

How the evolution of the rise in inequality in the US has dominated and distorted economists’ and pundits’ commentary; data show that some pet generalizations don’t hold up.

Financial Times Goes Wobbly on Brexit; Runs Front Page Stories Claiming Theresa May Charm Offensive Is Winning “Fudges” When No Such Thing Is Happening

The Financial Times has used two lead stories this week to deliver factuall-challenged propagandizing for the Government’s Brexit maneuvers.

Wolf Richter: Tesla Discloses Worst Quarterly Loss Ever, But Where Are the 17,000 Model 3 Cars it “Produced” But Didn’t “Deliver”?

So far, the SEC and investors are ignoring Tesla’s sus-looking production figures.