Category Archives: Banking industry

The Bank of England Should Stop Broadcasting the Views of a Comfortable Financial Elite

A “put foot in mouth and chew” episode from Bank of England chief economist Andy Haldane.

The Chip Shortage: Brought to You By American Neoliberalism

While the chip shortage will sort itself out in the next six months, the US can’t remedy its dependence on foreigners for critical supplies.

Goldman Is Evil But McKinsey Is Worse

Why the McKinsey veneer is looking tattier and tattier with every passing day, and why that’s not likely to change.

Negative Interest Rates Are Coming, but There Is No Chance That They Will Work

Negative interest rates: a bad idea that some central banks still can’t resist.

Michael Hudson: Finance Capitalism vs. Industrial Capitalism – The Rentier Resurgence and Takeover

Michael Hudson provides a deep dive into the rise and rise of the rentier under financial capitalism.

Wolf Richter: Historic Mania in SPACs, IPOs. Huge Fees for Wall Street Banks. Mega Paydays for Insiders. Disdain for Valuations. Blind Faith that “This Time It’s Different”

SPAC mania, with billions raised: this time it’s different, everyone is saying again – another sign that the zoo has gone nuts.

Coronavirus and Banking: Evaluating Policy Options for Avoiding a Financial Crisis

A scorecard for various approaches to combatting the looming European banking crisis.

Blockbuster Lawsuit Targets Deutsche Bank Executives and Supervisors for Epic Abuses, Value Destruction

An important suit taking aim at the extensive misconduct of Deutsche Bank executives and board members is grinding its way through court.

Perhaps It’s Time to Start Worrying About Italy Again

The causes for concern surrounding Italy are growing, even as the ECB keeps a tight lid on its bond yields, pushing its debt servicing costs lower as its debt explodes higher.

Pelosi Removes Katie Porter… Bringing Joy & Gratitude To Every Crooked Bankster On Wall Street

Pelosi doubles down on Team Dem’s loyalty to Big Finance.

Links 1/12/2021

A Hard Look at Rent and Rent Seeking with Michael Hudson & Pepe Escobar

An in-depth discussion of financial capitalism versus earlier models and the Chinese and Russian approach, with a focus on the role of rent.

Polarization, Then a Crash: Michael Hudson on the Rentier Economy

Michael Hudson discusses the chokehold of pro-finance, pro-rentier capitalism reaching into the present COVID-19 crisis.

Larry Summers’ Opposition to $2000 Covid Payments Confirms Our Classic: “Why Larry Summers Should Not Be Permitted to Run Anything More Important than a Dog Pound”

Larry Summers is at it again.