During the 2008 financial crisis, it is well known that nobody went to jail because of it. However, it is relatively unknown that only one bank did get charged for mortgage fraud. Abacus Federal Savings Bank is a relatively small bank which has 6 branches in NY, PA and NJ, has uncovered improper behavior of one employee and was subsequently fired and reported the proper … [Read more...] about Abacus: Small Enough to Jail
Waist Deep in the Big Muddy
Pete Seeger wrote that song in 1963 about a training accident during WW 2, and obviously referring to the then developing Vietnam War. Incidentally I think he should have received the Nobel Prize for Literature that went to Bob Dylan 1 year later instead after he died. The reason this song triggered in my memory is the recent policy shift/continuation of Trump administration on … [Read more...] about Waist Deep in the Big Muddy
North Korea; Has the nuclear calculus been changed?
In the past, the US stance on North Korea gone from the 'appeasement' during the Clinton Era, "Axis of Evil" Era during Bush Era and "Strategic Patience" during the Obama Era. In the advent of Bush Era and Obama era, the US has been trying to hatch a plan of trying to overthrow the North Korean government, very much like what happened to Syria and Libya years after the "Axis of … [Read more...] about North Korea; Has the nuclear calculus been changed?
End of the Sino-Indian Impasse at Dong Lang (Doklam) is Over – but Which Side Won?
Finally, after over two months, the Sino-Indian Crisis at Dong Lang (Doklam) that began with Indian troops crossing into Chinese territory to stop a road construction is over. On August 28, the Chinese government confirmed that the Indian troops have withdrawn from the Chinese side of Doklam. The Indian government gave the following statement: In recent weeks, India and … [Read more...] about End of the Sino-Indian Impasse at Dong Lang (Doklam) is Over – but Which Side Won?
Damned if you do, Damned if you don’t
We have talked about media bias against China, Chinese culture, and Chinese people a lot here. Almost every day, you hear stories about how China is doing illicit things ... or creating demands for illicit products. We hear about China polluting the world, "flooding" the world with steel or solar panels or electronics or toys, etc. Of course, we rarely hear about the social … [Read more...] about Damned if you do, Damned if you don’t