Posts Tagged ‘Scandals’

China Stunned As Bureaucrat’s Diary Of Sex And Bribery Hits The Web

China Stunned As Bureaucrat’s Diary Of Sex And Bribery Hits The Web

Courtesy of Gus Lubin at Clusterstock/Business Insider 

china internet cafe

China’s 30,000 internet policemissed a big one earlier this week. 

The scandalous diary of a medium-level official was posted online (in Chinese) and then spread like wildfire through China and beyond. Han Feng, a director of the Guanxi tobacco monopoly bureau, describes a life of sexcapades and bribery.

Han has already stepped down from his post, according to China Daily.

Here are some excerpts:

  • Sept. 16, 2007: Wang asked me for lunch at the Guijing Hotel. There were just the two of us. He gave me two bottles of Moutai liquor and 50,000 yuan. I deposited 30,000 yuan and took 20,000 home.
  • Sept. 18: 21-32 degrees, sunny – Morning in the “living quarters” – Afternoon: go to hotel & asked for a room, Ms. Long is coming – had red wine at dinner – go to GuoDa hotel, Xiao Tan is there, her menstruation is coming…
  • Sept. 20: When I got to the office this afternoon, Chen stopped by and gave me 10,000 yuan. Li gave me 2,000 yuan.
  • Dec. 4: Drank too much & Xiao Pai too, I asked her to come to my room…
  • Dec. 11: Evening, dinner with Mr Wang & Mr Hu, Commissar of the local Land Bureau – We decided to pay 5,000,000RMB (about USD 800,000) application fee and they will give us the land… Then we drank a lot!
  • Dec. 29: 2007 has been a good year. Work is going smoothly. Income is as high as 200,000 yuan Womanizing is on the right track. It’s been a lucky year with women. I need to pay attention to my health with so many sex partners.
  • Jan. 25: Award meeting. We obtained the “advanced citizen” award status as a unit… which means I get my salary and bonus increased to 250,000 this year.


See also: 15 Facts About China That Will Blow Your Mind 

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How The GMAC Bailout Was The Biggest Scam Of Them All

How The GMAC Bailout Was The Biggest Scam Of Them All

Courtesy of Vincent Fernando at Clusterstock 


GM’s financing arm, GMAC was the only entity to be bailed out by a full three rounds of aid and the only bank whereby the U.S. government still holds a majority stake.

Heat is picking up in regards to why GMAC received such special attention.


They also questioned whether the rescue of GMAC, achieved in part by making it a bank, had created a long-term situation in which the government guarantee of bank deposits was subsidizing sales at General Motors and Chrysler.

GMAC is the primary source of financing for GM and Chrysler dealers, and a major source of loans for buyers of their vehicles. Elizabeth Warren, a Harvard law professor who chairs the panel, said she understood GMAC’s utility for GM and Chrysler.

"What I don’t understand," she said, "is what the justification is for being an independent bank that takes deposits that has a backup from the United States government."

Ron Bloom, a senior adviser to Treasury Secretary Timothy F. Geithner, told the panel that the rescue of GMAC was necessary to save the automakers, and that the $17.2 billion price tag was a good deal for taxpayers. He said that no other lender or combination of lenders could have quickly replaced GMAC’s role in the marketplace.

Read more here > 


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A Quick Guide To Destroying $21 Billion Of Shareholder Value, And Decades Of Reputation

A Quick Guide To Destroying $21 Billion Of Shareholder Value, And Decades Of Reputation

Courtesy of Vincent Fernando at The Business Insider/Clusterstock

Will Toyota survive? We bet in ten years Toyota will be an even larger, more successful company.Some might say that Toyota’s current crisis is a result of enormously bad luck, and they might be partly right.

Yet Toyota’s problems also appear to have been the result of a series of tiny flops, over and over, ranging from quality control to public relations disasters.

For example, it shouldn’t have taken until today for its CEO to address its safety matters in public

99% of your hard work is meaningless when 1% of the time you’re a complete joke.

We’ve put together a quick guide to the amazingly unfortunate serious of events that put Toyota into its current situation.

Here’s how Toyota destroyed itself >

See Also:  

Ray LaHood: WHOOPS, What I Really Meant To Say Is That You Should Get Your Toyota Fixed

Here’s How Safety Problems Savaged Toyota Shareholders

Apple Founder Woz: My Toyota Prius Accelerates To 97 MPH On Its Own, Scares The Hell Out Of Me


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Sorry Libertarians, But This “Buyer Beware” Nonsense Is A Pitiful Defense Of Goldman Sachs

Sorry Libertarians, But This "Buyer Beware" Nonsense Is A Pitiful Defense Of Goldman Sachs

By Yves Smith, courtesy of Clusterstock

Count BlankfeinGoldman is trying to diffuse the increasingly harsh light being turned on its dubious practices in the collateralized debt obligation market, with the wattage turned up considerably last week by a story in the New York Times that described how a synthetic CDO program called Abacus was the means by which Goldman famously went “net short” subprime. We’ve mentioned Abacus repeatedly because AIG wrote guarantees on at least some of the Abacus trades.

One of the things that has been frustrating in watching this debate is the peculiar propensity of quite a few observers to defend Goldman and its brethren, and to argue, effectively, caveat emptor. Contrary to the fantasies of libertarians, that is not in fact how markets, particularly securities markets, operate. In virtually every market in the world, when someone represents his wares as being sound and safe and they turn out to be “bad” and dangerous, the seller is considered to have some responsibility for the damage. Remember those Pintos that turned into fireballs when rear-ended? The pets that died from pet food laced with melamine from China? No one suggested that the buyers of those products were at fault.

Read the rest of the post at Naked Capitalism — >>


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Tiger Woods Is Headed To Rehab For Sex Compulsion

Yep, no surprises here.  – Ilene

Tiger Woods Is Headed To Rehab For Sex Compulsion

Tiger On BedCourtesy of John Carney at Clusterstock/Business Insider

Tiger Woods is reportedly planning to go into rehab in Arizona for treatment for ‘sexual compulsion’ and his use of Vicodin painkillers and Ambien sleeping pills.

This, of course, is the way everyone knew this scandal would end.

The news was reported by the British tabloid The Daily Mail.


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Video Mocks Climate Gate Apologists Who Tried To Rig Global Warming Debate

Video Mocks Climate Gate Apologists Who Tried To Rig Global Warming Debate

Courtesy of John Carney at Clusterstock

The fall out from climate gate is much deeper and broader than hoped for by the global warming network--the web of corporate interests, academics and bureaucrats exposed as rigging the climate change debate. But it is also more fun than anyone anticipated.

Regardless of where you fall on the climate debate, this jib-jab style video is fun.



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Climategate Professor Calls Critic An A**hole On Live TV

Climategate Professor Calls Critic An A**hole On Live TV

Courtesy of Joe Weisenthal at Clusterstock

He just says it under his breath, right as he’s going off the air, but at the 2:36 mark of this video, you can hear University of East Anglia professor Andrew Watson saying "what an a**hole" in reference to a critic.

Yes, the embattled scientests just keep digging. (via CBS News and Drudge)


See Also:

Skip Copenhagen, Obama, And Investigate Those Lyin’ Climategate Scientists

Even Jon Stewart Is Mocking The Climategate Researchers

Climategate Claims First Casualty As Top Researcher Steps Down


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Here’s more on the climategate story, from a few different perspectives. – Ilene


global warming, tbi

By Andrew Leonard at Salon

Climate skeptics claim hacked e-mails prove, once and for all, that global warming is a hoax

The climate-change obsessed blogosphere — including both those who accept the science behind anthropogenic climate change and those who deny it — is in an absolute uproar today after the revelation that an unknown party hacked into the computer system of an important climate research center and posted hundreds of private e-mails to a Russian FTP server.

To climate skeptics, the e-mails prove that global warming is a conspiracy theory. At Wonk Room, Brad Johnson rounded up the politicized reaction:

  • If you own any shares in alternative energy companies I should start dumping them NOW," says the Telegraph’s James Delingpole.
  • Hot Air’s Ed Morrissey claims the emails discuss "repetitive, false data of higher temperatures."
  • The National Review’s Chris Horner salivates, "The blue-dress moment may have arrived."
  • "The crimes revealed in the e-mails promise to be the global warming scandal of the century," blares Michelle Malkin.
  • The Australia Herald-Sun’s Andrew Bolt claims the emails are "proof of a conspiracy which is one of the largest, most extraordinary and most disgraceful in modern [sic] science."

RealClimate, a blog maintained by real climate scientists, is busy doing damage control. This story will no doubt rage for weeks, so I’m just going to pick one example of the back and forth before trying to take some time to go deeper, if merited…

So what’s going on here? Put aside the question of whether the words "trick" or "hide" have nefarious or innocuous meanings. The scientific problem is that in attempting to reconstruct temperatures in the past, climate scientists are often faced with the problem that there were no humans standing around holding thermometers and writing down temperatures. So scientists use "proxies" — tree rings, or ice cores, or fossilized clams, or lake pollen trapped in sediment…

Overall, the more data we have, the more clear it has become to the vast majority of scientists working in this field that the earth has gotten significantly hotter at an alarming rate in the last century, most likely due to increased concentrations of greenhouse gases in the atmosphere. And if there really is a smoking gun in the…
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Everything You Ever Wanted To Know About Naked Shorting But Were Afraid To Ask

Everything You Ever Wanted To Know About Naked Shorting But Were Afraid To Ask

In fact, they don’t understand enough about the basics of stock trading and short selling to understand what naked shorting really is.

To help, we’ve created a guide to short selling that will tell you everything you need to know.

So let’s get started >


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SEC One Step From Banning Flash Trading

SEC One Step From Banning Flash Trading

sharkattack, flash tradingCourtersy of Joe Weisenthal at Clusterstock

The writing has been on the wall for so-called "Flash" trading for several weeks now, as exchanges like NASDAQ and BATS have already ended the practice of allowing certain clients a preferential look at the order flow. Today, though, the SEC voted to move forward on an outright ban of the controversial practice. Next up will be a public comment period, followed by another vote, which will almost certainly go the same way.

Next up, the critics will train all their efforts at high-frequency, rebate-capture trading strategies.

See Also:

Schumer: SEC Set To Ban "Flash" Trading

Schumer Calls For Ban On High-Frequency Trading

Of Course We Shouldn’t Ban Flash Trading


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Zero Hedge

Silver & Crude Are Soaring

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

While gold remains unchanged, silver prices are surging higher this morning as crude oil jumps supposedly on geopolitical tensions...

but technical resistance looks key...

Silver is breaking above its 100-day moving-average and Crude is pulling
away from its 50-day moving average (after being glued to it for a

Charts: Bloomberg


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Kimble Charting Solutions

Indicator triggers first time since 2000, “Threats & Opportunities” that follow

Courtesy of Chris Kimble.

A “Performance Indicator” with a very good track record, just sent an alert, for the first time since the 2000 highs.

Good friend and market strategist Ryan Detrick and I will be discussing “Opportunities” that follow when our 125/5 Indicator gets triggered.

Ryan and I will be conducting a FREE Webinar this Wednesday at 5 PM eastern. If you haven’t signed up yet, you can by CLICKING HERE

One of the many things we will be discussing is how should one construct a portfolio when the 125/5 indicator gets triggered and the “Th...

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Phil's Favorites

Why Are Mules Stubborn? Why Can't Blind Jackasses See?

Courtesy of Mish.

Here's my theoretical question for the day: Why are mules stubborn, and why can't blind jackasses see?

I ask that question in regards to a few recent news articles. One is on Japan, one the US, and one on emerging markets with various overlaps in between.

Let's start with Japan.

Brink of "Technical" Recession

The Financial Times reports Japan on Brink of Technical Recession. Japan is on the verge of a technical recession after data on industrial production raised the prospect of a second consecutive quarter of negative growth.  Industrial production for August — a crucial input into gross domestic product — unexpectedly fell by 0.5...

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Swing trading portfolio - week of October 5th, 2015

Reminder: OpTrader is available to chat with Members, comments are found below each post.


This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...

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All About Trends

Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.

To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Market News

News You Can Use From Phil's Stock World


Financial Markets and Economy

Taking Intelligent Risks: How To Stay In The Trading Game (Trader Feed)

You have to risk money to make money.  You have to make sure you don't risk so much money that you can lose your stake and go out of business as a trader.  Bet too little and you never make a good return on your capital.  Bet too much and you court career risks.  So much of trading success boils down to taking intelligent risks.

Here is a useful calculation tool that can tell you the probability of hitting a drawdown threshold.  


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Chart School

SP500 Wyckoff Review

Courtesy of Read the Ticker.

Review of the SP500, pre Oct 2015, fire fighting the technical damage.

More from RTT Tv

NOTE: does allow users to load objects and text on charts, however some annotations are by a free third party image tool named

Investing Quote...

.."Your goals are to select only stocks that move soonest, fastest and farthest in bull or bear markets. Limited losses and let profits run."..

Richard D Wyckoff

..“Don’t try to buy at the bottom and sell at the top. It can’t be done except by liars.”..


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Sector Detector: No rate hike translates into heightened wall of worry

Reminder: Sabrient is available to chat with Members, comments are found below each post.

Courtesy of Sabrient Systems and Gradient Analytics

The Fed’s decision to not raise the fed funds rate at this time was ultimately taken by the market as a no-confidence vote on our economic health, which just added to the fear and uncertainty that was already present. Rather than cheering the decision, market participants took the initial euphoric rally as a selling opportunity, and the proverbial wall of worry grew a bit higher. Nevertheless, keep in mind that markets prefer to climb a wall of worry rather than ride a crowded bandwagon, and I continue to envision higher levels for the markets after further backing-and-filling and testing of support levels (perhaps even including the August lows).


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Some Hedge Funds "Hedged" During Stock Market Sell Off, Others Not As Risk Focused

By Mark Melin. Originally published at ValueWalk.

With the VIX index jumping 120 percent on a weekly basis, the most in its history, and with the index measuring volatility or "fear" up near 47 percent on the day, one might think professional investors might be concerned. While the sell off did surprise some, certain hedge fund managers have started to dip their toes in the water to buy stocks they have on their accumulation list, while other algorithmic strategies are actually prospering in this volatile but generally consistently trending market.

Stock market sell off surprises some while others were prepared and are hedged prospering

While so...

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Baxter's Spinoff

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

Baxter Int. (BAX) is splitting off its BioSciences division into a new company called Baxalta. Shares of Baxalta will be given as a tax-free dividend, in the ratio of one to one, to BAX holders on record on June 17, 2015. That means, if you want to receive the Baxalta dividend, you need to buy the stock this week (on or before June 12).

The Baxalta Spinoff

By Ilene with Trevor of Lowenthal Capital Partners and Paul Price

In its recent filing with the SEC, Baxter provides:

“This information statement is being ...

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Mapping The Market

An update on oil proxies

Courtesy of Jean-Luc Saillard

Back in December, I wrote a post on my blog where I compared the performances of various ETFs related to the oil industry. I was looking for the best possible proxy to match the moves of oil prices if you didn't want to play with futures. At the time, I concluded that for medium term trades, USO and the leveraged ETFs UCO and SCO were the most promising. Longer term, broader ETFs like OIH and XLE might make better investment if oil prices do recover to more profitable prices since ETF linked to futures like USO, UCO and SCO do suffer from decay. It also seemed that DIG and DUG could be promising if OIH could recover as it should with the price of oil, but that they don't make a good proxy for the price of oil itself. 


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Watch the Phil Davis Special on Money Talk on BNN TV!

Kim Parlee interviews Phil on Money Talk. Be sure to watch the replays if you missed the show live on Wednesday night (it was recorded on Monday). As usual, Phil provides an excellent program packed with macro analysis, important lessons and trading ideas. ~ Ilene


The replay is now available on BNN's website. For the three part series, click on the links below. 

Part 1 is here (discussing the macro outlook for the markets) Part 2 is here. (discussing our main trading strategies) Part 3 is here. (reviewing our pick of th...

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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

Thank you for you time!

FeedTheBull - Top Stock market and Finance Sites

About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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