JANUARY 29, 2013

Full News Archive

• Headline: Jefferies Trader Charged with Fraud Scheme. Impact: Had this trader not engaged in fraud, the 2008 financial crisis could have possibly been a minor inconvenience rather than a full-blown disaster. Imagine a world where housing prices didn't plummet and everyone kept their homes. Instead, we got 'The Great Recession'—a title that surely deserves an award for the most ironic name ever.. Fact: Did you know that mortgage-backed securities are like a box of chocolates? You never know which one will bite you back… and in this case, they all did!.
• Headline: Facebook Enhances Search Functionality. Impact: Facebook's evolution from 'Robo-Babble' to slightly more human-like communication has led to an explosion of memes and cat videos. The ripple effect? A global society increasingly fluent in 'LOL' and 'brb', which has contributed to 80% of the internet being useless.. Fact: Fun fact: Before Facebook, the closest thing we had to a search engine was asking our friends what they thought about stuff—so much more tedious!.
• Headline: Biotech Firms Lobby Against Generic Competition. Impact: The biotech firms' efforts to limit generics have set off a chain reaction of overpriced medications. This has encouraged a new generation of pirates… no, not the ones searching for buried treasure, but those looking to access life-saving drugs through dubious means. Avast, ye mateys!. Fact: Did you know that the pharmaceutical industry spends more on lobbying than on R&D? So much for saving lives; it's more about saving profits!.
• Headline: Nominee for ‘Sheriff’ Has Worn Banks’ Hat. Impact: Mary Jo White's nomination to the SEC could be seen as a classic case of 'the fox guarding the henhouse.' This decision has tangled the regulatory web, allowing for a delightful circus of questionable ethics and cozy relationships in finance for years to come.. Fact: Did you know that appointing someone to regulate the industry they once defended is like putting a kid in charge of the candy store? Sweet for them, not so much for the rest of us!.