Repo Madness: Fed Plumbing Gone Awry
How the Fed’s fingerprints are all over the repo mess.
Read more...Category Archives: Banking industry
Private Equity Under the Hot Lights Today at House Financial Services Committee Hearing, “America for Sale?”
Private equity gets some long overdue scrutiny.
Read more...The Rich Under Stress as Asset Prices Wobble
Some of the rich are feeling the pinch. Is this a passing phenomenon or a sign of things to come?
Read more...Non-Financial Private Debt Overhang: Post War German Debt Reforms as a Model for a Modern Debt Jubilee?
Private debt levels are even higher than in 2008 but super low interest rates make that look less worrisome than it arguably should be. T. Sabri Öncü ponders how to go about large scale debt relief.
Read more...Roiled Repo Markets: Looking for Answers in All the Wrong Places
If you are worried about repo, you are worried about the wrong thing. If anything, it’s a symptom of too much liquidity demand from the FX swaps market.
Read more...German Finance Minister Pumps for EU-Wide Deposit “Reinsurance” But Expected Details Mean Lots of Gaps Likely
The lead story in the Financial Times tonight is that Germany’s finance minister Olaf Scholz is pushing for an EU-wide deposit scheme…of sorts. Even though Scholz’s plan appears to be more modest than the headlines indicate, even a halting move towards EU-level fiscal commitments would be a significant departure from Germany’s traditional stance of barring […]
Read more...Why the World Will Remember Departing ECB President as the Not-So-‘Super’ Mario Draghi
Looking back at the legacy of the man who created “the most deformed bond market in history.”
Read more...Wall Street Has Been Gambling With Student Loan Debt For Decades
As the student debt crisis continues to mount, major financial institutions are making record profits from student loan asset backed securities.
Read more...How Europe’s Greedy Lending to Africa Is Driving the Migration Wave That Fuels the EU’s Xenophobic Politics
How Europe is creating the conditions in Africa that lead to migration….and the underlying stresses are set to get worse.
Read more...Facebook’s Libra Faceplant: Beware of CEO Bright Ideas
Libra is going nowhere fast.
Read more...The People’s Money (Part 1)
An explanation of the Federal Reserve money system.
Read more...The IMF Convenes in Washington, Deaf to the Suffering It Causes Across the Planet
A brief reminder of the IMF record of failure and harm.
Read more...Bill Black: Eric Holder is the Official Missing from Discussions of the Bidens’ Ukrainian Efforts
How the Bidens’ Ukraine scandal has been a big gift to Trump, but the biggest was Eric Holder’s refusal to prosecute bank executives.
Read more...Bad Debts Make Good Profits – But What Are the Social Costs?
As European borrowers choke on debts they can’t repay, due to a significant degree to austerity-induced weak economies, financial profiteers swoop in to take advantage of the distress.
Read more...Mark Carney’s Trojan Unicorn — Are Central Banks Considering Stealth Nationalization in Sovereign Digital Currencies?
Mark Carney talks about digital soverign currencies. But is he really describing nationalization? And if so, whither the commercial banks?
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