Recently, we reported on Facebook’s information sharing agreement with Microsoft and the major privacy issues it may cause. The Wall Street Journal validated our concerns with a study that shows large amounts of personal data being shared by Facebook with third parties; often, this sharing occurs despite an explicit agreement to keep web browsing information private. Facebook is working to restrict its applications from illegally sharing information but so far the money-hungry profiteers have prevailed.
Banks like JPMorgan have devised a new “heads we win, tails you lose” strategy for profiting at the expense of its investors. If Times reporters have uncovered it, investigators should not be far behind. A scheme where banks risk only investor money seeking profit for itself? Sounds eerily familiar to what caused the financial crisis, doesn’t it?
Lehman Brothers continues to shell out big money to its bankruptcy advisors. The judge in the case has stated he will cut into some of those fees should he deem them too large, but competition among courts to hear major bankruptcy cases means many judges are reluctant to do so. The result is unchallenged, exorbitant fees paid to advisors with no alternative for firms needing their help.
Assisted by David Martin