And people wonder why some sour on American capitalism

“GSO Capital Partners, a unit of Blackstone Group LP, agreed to lend money to Hovnanian on the condition that the company default on a small portion of its bonds, in an effort to trigger a payout on credit-default swaps.”

https://www.bloomberg.com/news/articles/2019-03-06/wall-street-wants-to-reform-cds-here-s-why-that-ll-be-tough

The financial sector is huge, accounting for 20% of GDP.

Continue reading “And people wonder why some sour on American capitalism”

Drug dealers charged with murder? How about Big Pharma?

https://pilotonline.com/news/nation-world/national/article_1bdc2f89-a6d2-5860-92a9-a2fda249f91b.html

For decades Big Pharma has been flooding the market with highly addictive opioids with phony literature and sales pitches to doctors saying there is no danger. When in fact they knew otherwise but the money was too good.

Continue reading “Drug dealers charged with murder? How about Big Pharma?”

Nuclear technology to the Saudis. Really?

https://pilotonline.com/news/government/politics/nation/article_830e1b42-d4da-52b6-a61b-c7eff7d97e95.html

Saudi Arabia, the source of 19 of the 9/11 hijackers and ground zero for Sunni extremism, is being fast tracked for American nuclear technology. And there seems to be an effort by the administration to bypass Congressional oversight and approval as required by law.

Continue reading “Nuclear technology to the Saudis. Really?”