Frank Portnoy provides a great lesson in modern and historical finance!

Our tax Dollars go down the rat hole to prop up failed institutions that engage in creative accounting rendering the whole idea of transparency laughable.

2-Years after the meltdown we still don’t have real financial reform and for the banks its business as usual.

The collusion between Wall Street and Washington DC must end or they will periodically create financial disaster as they did in the Great Depression and as they are doing so today.

Frank Portnoy provides a great lesson in modern and historical finance!

Frank Partnoy on Off-Balance Sheet Transactions (MMBM) from Roosevelt Institute on Vimeo.

Source:
Frank Portnoy | Roosevelt Institute

About My Blog

Hi and welcome to The Profit Motive, I’m your host Caleb Lawrence. Once upon a time in America the media acted as the watchdog of the corporations and the state. In the modern era it’s all about ratings and profits, opinion has been substituted for news and frequently is presented as fact.
In addition to this Blog you can follow me on my daily radio show KPIG 107.5 FM in Santa Cruz California and KPYG FM 94.9 Cayucos/San Luis Obispo California. A thousand Blogs were able to spot the current problems and many began discussing it years before it reached crises proportions. While there were exceptions, and these exceptions are becoming more common, the mainstream media failed to get it and largely continue to do so.

The Disclaimer

This Blog is for informational purposes only, and is not to be construed as a recommendation or solicitation to purchase or sell any investment product or service. It is not to be relied upon as investment, tax, legal, accounting or other advice by you or any third party. You should seek relevant professional counsel prior to making any decision of an investment, tax, finance or legal nature prior to making any type of commitment or agreement. Further the views and opinions expressed here are solely and completely those of Caleb Lawrence a/k/a Caleb Lawrence Registered Investment Adviser Inc. Any Internet links to other websites and or Blogs or other forms of electronic communication are for your convenience and enjoyment only. Caleb Lawrence and Caleb Lawrence Registered Investment Adviser Inc. do not endorse, and expressly disclaim liability and/or responsibility for, the content or information contained on any other Blog or website.

Food For Thought

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“If we understand the mechanism and motives of the group mind, it is now possible to control and regiment the masses according to our will without them knowing it.” – Edward Bernays

"There are two ways to conquer and enslave a nation. One is by the sword, the other is by debt."
John Quincy Adams
1735-1829

"Speaking the truth in times of universal deceit is a revolutionary act" - George Orwell

-In economics, the majority is always wrong.
John Kenneth Galbraith

“It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” – Mark Twain

"The last duty of a central banker is to tell the public the truth."
Former Fed Governor Alan Blinder 1994

Ben Bernanke back on October 31, 2007 (when the housing and subprime crisis were going to be “contained” — remember that one?):
“It is not the responsibility of the Federal Reserve - nor would it be appropriate — to protect lenders and investors from the consequences of their financial decisions.”

Worth Reading