The real lesson of Facebook

May 31, 2012 | By | 1 Reply More

Matt Taibbi of Rolling Stone sharply questions the integrity of the stock market:

Virtually every week now we see stories like this that hint at a kind of two-tiered market system – in which most of the real action takes place inside an unregulated black-box network of connected insiders who don’t disclose their relationships or their interests, while everyone else, i.e. the regular suckers, live in the more tightly-policed world of prospectuses and quarterly reporting and so on. . . . Sooner or later, people are going to clue into the fact that one or two big banks, acting in concert with a choice assortment of unscrupulous “preferred investors,” can at least temporarily prop up or topple just about anything they want, from Greece to Bear Stearns to Lehman Brothers.

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Category: Fraud, Secrecy

About the Author ()

Erich Vieth is an attorney focusing on consumer law litigation and appellate practice. He is also a working musician and a writer, having founded Dangerous Intersection in 2006. Erich lives in the Shaw Neighborhood of St. Louis, Missouri, where he lives half-time with his two extraordinary daughters.

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  1. Niklaus Pfirsig says:

    The Occupy movement in Buffalo has convinced the city council to move away from JP Morgan Chase. Read all about it on the Huffington Post

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