Author Archives: Yves Smith

So Which Eurobank is Having Dollar Funding Problems?

Which Eurobank has led the ECB to tap its dollar swap line with the Fed?

Has the Time Come to Consider Criminalising Tax Avoidance?

A rare call for getting tougher with a widely practiced white collar crime, tax avoidance.

Don Quijones: A Blow to Transatlantic Corpocracy – Support for TTIP Begins to Unravel

Why the TTIP “trade” deal is looking wobbly.

Links 4/28/16

Dan Loeb of Third Point Foresees a Hedge Fund “Killing Field”

Hedge funds are having a major comeuppance. Couldn’t happen to a nicer bunch.

Star Trek or The Matrix? Varoufakis’s Challenge to Neoliberalism

Varoufakis gave a wide-ranging talk on the considerable conflict between neoliberalism and democracy, and why democratic rule produces better results.

Watch Bill Clinton, Larry Summers, and Phil Gramm Have a Love Fest Over Repeal of Glass Steagall

Watch Bill Clinton heart financiers in 1998 and try to take it back in 2013.

Structural Reforms Are Not the Answer – Expansionary Fiscal Policy Is

Debunking the idea, widely touted by economists, that “structural reforms,” as in crushing labor bargaining power, is the path to prosperity.

Links 4/27/16

Should Banks Be Worried About Apple Pay?

Will Apple Pay eat retail payment systems?

How Bill Gates and His Billionaire Allies Used Their Wealth to Launch Charter Schools in Washington State

The Gates charter school push as a case study in the Trojan Horse of “charitable plutocracy”.

Tom Engelhardt: Donald Trump – Campaigning on America’s Decline

Trump’s campaign is proof of America’s decline….but not in the way you think.

Links 4/26/16

Worst Example Yet: Unconscionable Apollo Clause Illustrates Depth of Capture of Private Equity Investors

A spotlight on one of the most rancid “heads we win, tails you lose” features of private equity agreements: sweeping indemnification provisions which no fiduciary should accept.