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Wall Street

Wall Street

I Warned You About "P2P Lending"… and I Was Right

Investors are better off borrowing from a P2P lending site than investing in any of them.

If you want to get an online loan, go for it – but don't waste your money betting on any of the sites being a home-run investment.

For now, you should keep your capital away from marketplace lenders. Here's why...

Wall Street

The Evil Genius Behind the General Motors Streetcar Conspiracy

General Motors streetcar conspiracy theorists believe that the electric tram didn't die a natural death; rather, it was murdered by GM and the savviness of one innovative businessman.

This evil entrepreneur had one thing on his mind: monopolizing American surface transportation.

Here's the story of how he went about getting his way and the questionable tactics he and GM purportedly used...

Wall Street

Will These Wall Street Criminals Finally Be Punished?

Seven years have passed since the peak of the 2008 financial crisis, and still, not a single too-big-to-fail chief executive officer (CEO) is in jail.

Sure, civil suits have been filed against the guilty Wall Street firms – civil suits that result in settlements that barely touch these global financial institutions' balance sheets.

As for the Wall Street criminals behind the toxic loans that tanked the economy in 2008 – the actual people, not the institutions they hide behind – there has never been so much as a wrist slap, let alone a criminal conviction.

That's why we were pleasantly surprised when The Wall Street Journal reported last week that U.S. officials are finally pursuing criminal charges against three Royal Bank of Scotland and JPMorgan execs...

Great News, Wall Street: The Economy Is Coming Unglued

Commodity prices are plunging, the dollar is powering higher, Obamacare is collapsing, economies everywhere are faltering and terrorism is spreading across the globe.

That's bad news. Unless you happen to be among the stock market investors who in the U.S. spent the last week bidding up stock prices like there is no tomorrow. They are playing with fire and are likely to get burned.

The Dow Jones Industrial Average rallied 3.5% or 579 points to 17,823.81 while the S&P 500 jumped 3.3% or 66 points back to 2089.17. The Nasdaq Composite Index added 3.6% to reach 5104.92.

Below the surface, however, market internals were horrible with anything energy related getting "schmeissed" in the words of legendary market guru Doug Kass.

And the high yield bond market, which we will get to in a minute, is even worse...


The Hillary Clinton/Wall Street Relationship Has Never Been More Obvious

Hillary Clinton/Wall Street ties became an unintended highlight of Saturday night's Democratic debate.

It all began when rival presidential hopeful Vermont Sen. Bernie Sanders took an opportunity to criticize the former secretary of state about her campaign contribution affiliations.

He might as well have handed Clinton her own shovel at that point and told her start digging...

Wall street

5 of the Biggest Corporate Scandals in U.S. History

There are approximately 30 million businesses operating in the U.S. today, according to the most recent U.S. Census Bureau data.

You can bet some of those 30 million have got corporates scandals baking behind the scenes…

We found out last week that Valeant Pharmaceuticals International Inc. (NYSE: VRX) is almost certainly one of them. On Oct. 21, short seller Citron Research accused Valeant of fraud. It said the firm was used Philidor Rx Services to create phantom sales by storing inventory and recording it as transactions.

But Valeant is just the latest discovery of corporate fraud in America.

Here are some of the biggest five fraud scandals in U.S. history...


Why We're Not Buying Martin O'Malley's Anti-Wall Street Platform

On May 30, 2015, former Maryland governor Martin O’Malley announced his candidacy for the Democratic presidential nomination in 2016.

The progressive icon stands to the left of the poll-leading Democrat Hillary Clinton and has found a niche in painting himself as the populist hero in contrast to Clinton’s Wall Street ties and far-ranging donor pool of “one-percenters.”

O'Malley's championing of the middle class against the "Wall Street bullies" would be laudable...if it were believable....


Wall Street Ties Link Inescapable Hypocrisy to Hillary Clinton 2016 Run

Wall Street ties to our nation's capital are more prevalent than ever.
That's why we had to shake our heads when we saw the tactic the Hillary Clinton 2016 campaign decided to run with, the week following her bid announcement on April 12.
Mrs. Clinton called for a "toppling" of the 1%. She would attempt to be cast as "Hillary Clinton, the Populist."

But to do that, she'd have to divorce herself from the very people who've bankrolled her rise to power...

Wall Street

Here's How Wrong Wall Street Stock Market Predictions Are

Trusting Wall Street stock market predictions could be hazardous to your portfolio's health.

In particular, the annual Wall Street stock market predictions made by the top analysts are so inaccurate, a blindfolded monkey with a dartboard could do better.

Collectively, the forecasts of these "experts" over the past 15 years have been off by an average of 14.7 percentage points a year. That's worse than if they'd simply guessed the long-term average return of 9% every year.

Any other worker with a track record like this would be fired immediately...

Wall Street

Why Is the Stock Market Closed on Good Friday?

Wall Street is full of adages, superstitions, and myths – and that includes answers to the question: Why is the stock market closed on Good Friday?

Good Friday is the only non-federal holiday when the NYSE closes. Rumor has it that it's closed due to serious crashes that occurred in the years it did open that day.

But that's not the real story...