Category Archives: Banking industry

Jane D’Arista on How the Failure of Global Finance Is Systemic

Jane D’Arista describes the internationalization of finance and how is has produced not just crises but fundamental economic distortions

New Suit Seeks Clawback of >$4 Billion of Fines and Insider Trading Profits from TD Bank Executives Earned While Running Decade+ Massive Money Laundering Schemes

TD Bank engaged in over a decade of criminal misconduct. A new suit seeks to make its board and executives pay.

The Execution of the CFPB: Capitalism Survives Another Attempt to Save It

A discussion of Elizabeth Warren’s naivete about the predatory nature of capitalism.

Artificial Intelligence and Financial Stability

On the high odds of winding up with the Peter Principle of AI implementation in financial institutions, and what to do to prevent that.

How Climate Change and Widespread Unaffordable Home Insurance Will Wreck Property Values

The death spiral of home insurance in climate afflicted areas has begun. The will and means to tackle underlying issues are sorely wanting

New York Times Defends Mexican Cartels Because US Economy

The New York Times sinks to a new low in defending Mexican cartels because they are too intertwined in US economic activity.

Michael Hudson: Trump’s Balance-of-Payments War on Mexico, and the Whole World

Why US trade and economic threats against Mexico could trigger a financial/currency crisis that may propagate across the Global South

mBridge, a Bank of International Settlements Project Hyped by BRICS Fans as a Way to Evade Sanctions, Shut Down

Our debunking the hype of the purported BRICS payment potential of a BIS project, mBridge, has proven to be true, and then some.

James Galbraith: How the Fed Became Less Powerful Despite Weakened Congressional Oversight

Fifty years ago the actions of the Fed mattered. Today, as far the aggregate measures of America’s domestic economy go, they do not.

This Week’s Unholy Mix of Drought, Wind, and Fire in Southern California: A Warning of an Accelerating Insurance Crisis in Climate-Risk Areas?

More and more homeowners are understandably worried about what insurance increases might look like in the face of intensifying climate risks.

China’s Government Bond Market Sounding Loud Deflationary Alarm. Is the Japanification China Has Warded Off Finally Arriving?

China’s investors are in freakout mode about deflation risks. Can its government turn the fundamentals around?

The One-in-a-Thousand-Day Problem

AI’s ability to handle complexity and respond rapidly means future crises are likely to be much more sudden and vicious than those we have experienced so far.

“The Next Crash Could Be Much Bigger Than the Last Two”

Rentierism in housing in the UK has reached what looks like nose-bleed, self-correcting, and thus potentially crash-inducing levels.

Wall Street Journal Tries “Recovery Finally Underway” Office Space Patter as Securitized Office Mortgage Delinquencies Hit a New Post-Crisis High of 10.4%

The Journal gets egg on its face for trying to call a bottom in the office space market even as delinquencies were accelerating

Trump Nominates Corporate Lobbyist and Foreclosure Fraudsters Defender Pam Bondi as Attorney General

Pam Bondi has a terrible record as far as going after corporate misconduct is concerned, which explains Senate enthusiasm for her.