BP Admits to Spilling Even More Oil in Lake Michigan

By: Friday March 28, 2014 8:45 am

ot surprisingly, BP is still spilling oil all over America. A thoroughly predictable outcome given the near-complete pass they received after the Gulf Coast spill. This time it is one of America’s Great Lakes that is being polluted by BP’s reckless behavior, Lake Michigan.


Goldman Sachs Makes Bad Trades, Wants Money Back

By: Wednesday August 21, 2013 1:10 pm

When things don’t go your way it is really a learning experience – life is like that sometimes. We all have to accept that life isn’t fair and sometimes we lose despite what we think should happen – oh, unless we are Goldman Sachs.

State Attorney Generals Schneiderman and Coakley Call for DeMarco to Go

By: Wednesday April 3, 2013 2:00 pm

New York Attorney General Eric Schneiderman and Massachusetts Attorney General Martha Coakley have called for Federal Housing Finance Agency head and notorious Wall Street puppet Edward DeMarco to be removed from office.

In an op-ed in Politico, Schneiderman and Coakley join a long line of critics noting DeMarco’s commitment to screwing homeowners.

In Seeking Waiver, BofA Admits They Violated Numerous Laws

By: Wednesday August 3, 2011 7:10 pm

Really, it’s the HOMEOWNERS’ moral hazard we have to worry about? What about the banks? Bank of America will have been able to pay off the government for breaking the law repeatedly and systematically.

Why would we expect them not to do this again? After all, state and federal regulators do not have a full accounting through an investigation, and the enforcement capabilities, while better with the new Consumer Financial Protection Bureau in charge, are not likely to be overwhelming.

Largest Mortgage Firms Profit from Crime, Kill Moral Hazard for All of Wall Street

By: Tuesday March 29, 2011 12:42 pm

Even if the banks get slapped with the “large” $30 billion penalty, that is only a net loss of 50% more than was saved by cutting corners. More likely, though, the settlement will cost the banks less than $30 billion. If I know the maximum punishment for robbing a bank was only being required to pay back what I stole plus at most another 50%, my life of crime would start tomorrow.

Tony Hayward to Become New Poster Boy for “Moral Hazard”

By: Sunday July 25, 2010 12:30 pm

Tony Hayward will exit BP, possibly as soon as this week. Reports of his likely exit package show him leaving the company while retaining wealth beyond the dreams of the average person. If so, Hayward will become the embodiment of the concept of moral hazard.

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