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Our Giant Experiment With “Greed Is Good” Has Failed

Another day, another example of the disastrous effect Reaganomics has had on our country’s business culture. Ever since his bank was fined $185 million for illegally opening millions of accounts in its customers’ names to help boost profits, Wells Fargo CEO John Stumpf has insisted that he only discovered what was going on in 2013. That’s what he said when …

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Big banks flag dangers of financial bubble in oil and commodities – Ambrose Evans-Pritchard

The big global banks have begun to warn clients that the blistering rally in oil and industrial commodities in recent weeks has run far ahead of economic reality, raising the risk of a fresh slump in prices over the summer. Barclays, Morgan Stanley and Deutsche Bank have all issued reports advising investors to tread carefully as energy and base metals …