William Cohan’s book paints a picture of GS clearly shorting mortgage-backed securities at the same time as selling them, then obfuscating in congressional investigations.
Archive for April, 2011
The deal was friendly, with Sunpower needing help in competing with the Chinese manufacturers. Total will offer a $1bn credit support. Total’s motivation: a hedge financed by high oil prices? Note that Total has invested in nuclear: an 8.33% interest in the EDF/GDF Suez consortium commissioned to develop the European pressurized reactor project in Penly, France.
So says Fathi Birol, IEA chief economist, on ABC Catalyst’s 12 minute peak oil film, while appearing doubtful about the IEA’s own assertion that production can be lifted to 96 mbd by 2030, crude having peaked in 2006.
In the best short TV account I have yet seen on the peak-oil problem, the IEA’s chief economist is teased on ABC TV into going as far as I have ever seen or heard him go in saying that a crisis of global oil supply is near.
Of the 5 million barrels spilled, more than 20% can’t be accounted for, scientists studying the aftermath say.
So Jeremy Leggett argues in Sublime magazine. “It’s absolutely vital that, as far as the three major crisis debates are concerned – finance, energy, climate – each of us makes up our mind about what we think.” (Not the sub-editor’s finest effort, I have to say).