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overvaluing the future

  IT’S ONLY WHEN the tide goes out that you learn who’s been swimming naked,” the billionaire investor Warren Buffett has famously said. During the crash of 2008, the whole world learned just how dangerously nude Wall Street was. Now evidence is accumulating that suggests that many financial institutions are skinny-dipping once more via similar types of lending that could lead to similar disasters as the water recedes again due to the Covid-19 pandemic. A longtime industry analyst has uncovered creative accounting on a startling scale in the commercial real estate market, in ways similar to the “liar loans” handed out during the mid-2000s for residential real estate, according to financial records examined by the analyst and reviewed by The Intercept. A recent, large-scale academic study backs up his conclusion, finding that banks such as Goldman Sachs and Citigroup have systematically reported erroneously inflated income data that compromises the integrity of the re

Most corporations stood by pledges to not fund politicians who voted against Biden s victory

Most corporations stood by pledges to not fund politicians who voted against Biden s victory Seema Mehta, Maloy Moore, Matt Stiles © Provided by The LA Times House Speaker Nancy Pelosi and Vice President Mike Pence officiated over a joint session of the House and Senate on Jan. 6 to count the electoral college votes cast in in the November presidential election. (J. Scott Applewhite / Associated Press) In the aftermath of the Jan. 6 insurrection at the U.S. Capitol, many of the nation s largest corporations pledged that they would suspend donations to elected officials who opposed the certification of Joe Biden’s victory, hindered the peaceful transfer of power or incited violence. Some said they would stop contributing all together.

Wall Street s Cooked Books Fueled the Financial Crisis in 2008 It s Happening Again

his is not just the conclusion of academics. John Flynn has worked in commercial real estate for decades, including stints at GMAC Commercial Mortgage and the ratings agencies Moody’s and Fitch. He now provides advisory and consulting services for CMBS investors, borrowers, and lawyers. In conversation, Flynn comes across much like the investor Michael Burry in “The Big Short,” combining a love for financial arcana with deep outrage at how the system screws the little guy. “I’m not a perfect angel,” says Flynn. “But there has to be a limit.” Flynn’s whistleblower complaint filed with the SEC states that he has identified “about $150 billion in inflated CMBS” issued since 2013 by banks such as Wells Fargo and Deutsche Bank and the “shadow bank” Ladder Capital.

Some companies broke their promise, donating to election objectors

Some companies broke their promise, donating to election objectors
latimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from latimes.com Daily Mail and Mail on Sunday newspapers.

Most corporations stood by pledges to not fund politicians who voted against Biden s victory

Most corporations stood by pledges to not fund politicians who voted against Biden s victory
msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.

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