Telephone scam – Man claimed he is from Microsoft and needs to fix my computer

Five minutes ago, I received a phone call from a man who claims to be "David Johnson" who said he's working from Microsoft. He had an accent that I was unable to identify, but I assumed he was from India. His phone number showed up on my cell phone as "212-414-155" (that's right - -- it's missing a digit). He told me that MY computer has been throwing out error messages that are being received by the Microsoft Server, and that we need to fix the problem. I led him on a bit. He said to hit the control key plus r, and that this is the beginning of the fix. I asked for his phone number. He wouldn't give it. He repeatedly said that he's working with Microsoft, not FOR Microsoft. He wouldn't give me his supervisor's name. I repeatedly asked for his PHONE NUMBER so I could call him back (I wanted it to report him to Microsoft). He wouldn't give it. I offered to add Microsoft to the call, and he got evasive. My assumption is that he was trying to have me give him access to my computer by installing monitoring software. I eventually called him a "criminal," and told him he was despicable, then ended the call. I recorded most of the conversation. Beware . . . . I'm including a link from Microsoft regarding phone scams.

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Einstein proves fraud

Huge securities trading spike occurs before it would be possible to even receive the information electronically, much less react to it after reading it.

"[T]he Fed news was certainly present in trading centers in Chicago and New York before 2pm. The evidence is overwhelming. It is unknown how many people had access to this information - for a timed news release, it would have been at least an administrator, probably Q.A. and others. What we do know is the resulting explosion of trading just 1 thousandth of a second after 2pm, was unprecedented in the history of Fed news announcements, and much of that trading was based on information obtained before the set Federal Reserve Board release time."
I'm betting that there won't be any prosecutions.

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Matt Taibbi puts the spotlight on the rating agencies

The financial meltdown could never have happened if the ratings agencies hadn't rated crap loans as excellent. It would have brought the entire corrupt system to a halt. Matt Taibbi is whipping these culprits with some stunning evidence that has recently come to light.

Thanks to a mountain of evidence gathered for a pair of major lawsuits, documents that for the most part have never been seen by the general public, we now know that the nation's two top ratings companies, Moody's and S&P, have for many years been shameless tools for the banks, willing to give just about anything a high rating in exchange for cash. In incriminating e-mail after incriminating e-mail, executives and analysts from these companies are caught admitting their entire business model is crooked. "Lord help our fucking scam . . . this has to be the stupidest place I have worked at," writes one Standard & Poor's executive. "As you know, I had difficulties explaining 'HOW' we got to those numbers since there is no science behind it," confesses a high-ranking S&P analyst. "If we are just going to make it up in order to rate deals, then quants [quantitative analysts] are of precious little value," complains another senior S&P man. "Let's hope we are all wealthy and retired by the time this house of card[s] falters," ruminates one more.
Here's Taibbi's conclusion:
What's amazing about this is that even without a mass of ugly documentary evidence proving their incompetence and corruption, these firms ought to be out of business. Even if they just accidentally sucked this badly, that should be enough to persuade the markets to look to a different model, different companies, different ratings methodologies. But we know now that it was no accident. What happened to the ratings agencies during the financial crisis, and what is likely still happening within their walls, is a phenomenon as old as business itself. Given a choice between money and integrity, they took the money. Which wouldn't be quite so bad if they weren't in the integrity business.
This is an engaging and detailed article that will leave you frustrated that it's business as usual for the ratings agencies. Excellent reporting and phenomenal writing by Taibbi.

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The credibility problem of the Fed

What is the Fed good at? Not much, according to Jessie Eisenger of ProPublica:

Investors . . . have almost no confidence in the Federal Reserve or the economics profession. And for good reason. It's impressive that the Fed and many economists have successfully predicted the path of interest rates and inflation in the wake of the worst financial crisis in a generation. But neither the central bank nor academicians managed to predict or prevent the crisis in the first place. The failure dwarfs the accomplishment. The Fed's track record is out-and-out abysmal.The Fed began its lender-of-last-resort role in 2007, but did little to avoid or minimize the financial crisis. Once it hit, it did the right thing to flood the markets with money, but — along with the Treasury and a passive Justice Department — let banks and top executives off the hook. And now, asset prices are going wild. Junk bonds are up. Stocks are up. Housing in Phoenix and Brooklyn is going mad. This prebubble euphoria only undermines the Federal Reserve's fragile credibility. It reinforces the notion that it seems to know only two things: how to inflate bubbles and how to studiously not recognize them.

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