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Home / Tag Archives: Ridiculously obvious scams

Tag Archives: Ridiculously obvious scams

DoJ Bankruptcy Trustee Lambastes Provisions to Protect Sacklers in Purdue Bankruptcy Exit Plan as “Illegal”

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. Last week, when I last wrote about the Purdue bankruptcy exit plan, it looked like the Sackler family would get to keep most of their fortune, and receive immunity from third-party lawsuits for claims related to the role they played in the opioids epidemic. Fifteen states had signalled, including previous stalwarts of state opioids litigation...

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Haiti Ruling Families Create and Kill Monsters

Yves here. Lambert has been seeking reader input and links on the uprisings taking place in many parts of the world, including Haiti, Cuba, and South Africa. This interview by Paul Jay with Jafrik Ayiti sheds light on the backstory in Haiti. Podcast: Play in new window | Download (Duration: 46:57 — 64.6MB) Subscribe Apple Podcasts | Spotify | Android | iHeartRadio | Stitcher | Blubrry | Email | TuneIn | Deezer | RSS The Haitian oligarchy collude with the U.S., Canada, foreign corporations...

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The U.S. Shale Revolution Has Surrendered to Reality

Yves here. We picked up on the observation of the Financial Times’ John Dizard many years ago: that the shale industry would continue to engage in fundamentally unprofitable drilling as long as operators could borrow money, and that would continue for quite a while. The day of reckoning has finally arrived. By Justin Mikulka, a freelance investigative journalist with a degree in Civil and Environmental Engineering from Cornell University. Originally published at DeSmog Blog Image: Fossil...

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Hospital ‘Trauma Centers’ Charge Enormous Fees to Treat Minor Injuries and Send People Home

Yves here. Is it just me, or is Kaiser Health News spending a lot more time covering medical industry scams? Given the relentless upward march of health care costs, one has to assume that a rise in MBA-designed monstrosities like trauma center price-gouging is what’s driving greater media attention. Unfortunately, the perps are so shameless that mere press exposes likely won’t do much by themselves, at least until they force legislators to crack down. By Jay Hancock, Kaiser Health News Senior...

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Biden Targets Non-Compete Agreements, Which Restrict the Job Opportunities of Millions of Low-Wage Workers

Yves here. While Biden noticing that non-compete agreements are an economy-constraining employer abuse is a step forward, it’s not clear that his Administration intends to do anything more than hand wave, even though the practice has become ludicrously common. Recall that the excuse for non-compete clauses is that an employee might walk off with valuable know-how that helps someone else in their industry. But now these provisions have become common even for low level workers whose jobs are so...

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Robinhood’s Revealing Ad Pitch: We’re All Investors, Alone

Yves here. Robinhood is baack…but not in the way you might anticipate. After having been bloodied in the GameStop stock squeeze, and then having to ‘splain itself before Congress, Robinhood is apparently hoping enough ad spending will make this sorry history go away. Or alternatively, perhaps it already has plenty of churn among its investors, so all it need to do is accelerate the intake a bit. I am highly confident you’ll enjoy Jared Holst’s take on Robinhood’s image-burnishing campaign. By...

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A Curious Union: Covid, Clorox, Cleveland Clinic, and the CDC Foundation

Yves here. This post calls out institutional and corporate profiteering via describing how, via donations of $1 million each to the Cleveland Clinic and the CDC Foundation, Clorox bought the use of their names to tout the highly dubious idea of using bleach as an anti-Covid measure. The story hammers the Clorox touts for one of Lambert’s key issues: Covid is an airborne disease. The idea that surfaces were a contagion vector was debunked quite a while back, airline hygiene theater...

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Mindfulness Meditation Can Make Some Americans More Selfish and Less Generous

Yves here. Before some of you get riled up, I was involved with a mindfulness group that used techniques other than meditation (they focused on being mindful on an active basis, or as they liked to put it, “clear,” “awake,” “aware”). Their implicit pitch, which for most participants seemed to be true, was not that their training made you a better person, in the sense of being more ethical or generous, but that it made you more effective. They promoted it as a way to get yourself out of dead...

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Michael Hudson Discusses Financialization, Rentierism, and Other Favorite Topics with Jessi Ora of Swedish Positiva Pengar Group

Yves here. Michael Hudson called this interview a summary of his overall economic philosophy, so I hope you will enjoy it. Needless to say, it also covers a lot of ground. One point where I hate to quibble is his call for 100% reserve backed banks. This is a very old idea, called narrow banking, advocated during the Great Depression by Yale economist Irving Fisher, infamous for declaring stocks at a permanently high plateau right before for 1929 crash. Fisher redeemed himself by identifying...

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Steve Wozniak Endorses the Right to Repair

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. Last week was a big one on the right to repair beat. As part of his broad executive order to promote competition in the U.S. economy, President Joe Biden directed the Federal Trade Commission (FTC) to crack down on restrictions that limit the ability of consumers to repair products they own. According to Verge, President Joe Biden’s latest executive...

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