Category Archives: Banking industry

IMF Surcharges: A Lose-Lose Policy for Global Recovery

The IMF seems unable to drop its punitive, self and “client” destructive habits.

What Happens If a Cryptocurrency Exchange Files for Bankruptcy?

Law professor Adam Levitin explains why cyptocurrency exchange customers face a world of hurt if their exchange fails.

Neoliberalism Was Born in Chile. Now It Will Die There

A constitutional convention is remaking Chile to break with the model forged by murderous dictator Augusto Pinochet

Bad as QE Was, Unwinding It Rapidly Could Be Worse

Getting out of super low interest rates and unwinding QE is proving to be easier said than done.

Michael Hudson: What is Causing So Much Inflation?

Economist Michael Hudson explains the inflation crisis and Fed’s secretive $4.5 trillion bank bailout.

The Bitcoin Challenge: How to Tame a Digital Predator

Public authorities should refrain from taking measures supporting additional investment flows into Bitcoin and should treat it as rigorously as the conventional financial industry to combat illicit payments, money laundering, and terrorist financing

‘If We Want to Tackle Climate Change, We Want Them to Go Bankrupt … Right?’

Yes, Biden is sabotaging the climate, just like the other guy…but that’s not why Saule Omarova nomination as Controller of the Currency failed

Too Big to Strand? Bond Versus Bank Financing in the Transition to a Low Carbon Economy

Banks continue to provide financing to fossil fuel firms that the bond market would not finance as long as they do not price the risk of stranded assets. In this setting, stranded assets risks may have shifted to large banks.

Foreclosure Looms for Homeowners Who Thought They’d Won, Thanks to Top New York Court Ruling

Foreclosure suits from the financial crisis era get a new life thanks to a ruling by a conflicted New York judge.

Finance Group Fails To Deliver at COP26

Finance, which some see as uniquely positioned to save the planet, has already bankrolled 1.5֯ C of warming.

Michael Hudson on Truth Jihad Radio Discussing Super Imperialism, Rentierism, and the American Political Duopoly

Michael Hudson gives a wide-ranging talk, including American policy in the post-war era, how economics ignores debt, and class warfare.

Jobs Grow — Along With the Pandemic Gap Between Rich and Poor New Yorkers

The example of New York City shows that the rich are continuing to pull ahead during the Covid respite.

An Increase in Interest Rates Would Be An Act of Class Warfare

While increasing interest rates to combat this inflation is bone-headed, the Fed has long wanted to be out of super low rate terrain.

General Electric Breaks Up, Symbolizing Decline of American Manufacturing and the High Price of Financialization

How stock price fixated management and a big expansion into financial services under Jack Welch did in the once-esteemed General Electric.

Latest Fed Financial Stability Report Underplays Supply Chain Risk

The financial press overhyped the latest Fed stabilty report’s comments on China, and ignored the near total absence of supply chain woes.