Daily Reading on the Financial Markets: 3/7/13
Not that this is a surprise in the utterly opaque and fraud-ridden world of modern financial megaliths, but an insider whistle-blower claims that Wells Fargo “fabricated and altered mortgage documents” en mass.
Following the theme of large-scale fraud in the U.S., Barry Ritholtz rails against government refusal to prosecute the frauds perpetuated by America’s largest financial institutions.
James Kunstler asserts that our current use of energy and capital has “no future,” and calls for a more sustainable low-fi approach.
Big Picture notes that over half the world is currently in recession: