Post Crisis Measures Have Failed to Tame Derivatives Risks
Derivatives remain an untamed systemic risk.
Read more...Category Archives: Banking industry
Michael Hudson: 10 Years Since Lehman Brothers Bankruptcy – Did the Economy Really Recover?
Michael Hudson discusses the economic impact of not writing down debts in the wake of the crisis.
Read more...Michael Hudson: The Lehman 10th Anniversary Spin as a Teachable Moment
Why you should take conventional wisdom about the Lehman collapse and the crisis with a fistful of salt.
Read more...J.D. Alt: Paying for Hurricanes
A reminder that the budgetary “paying for things” framing is a way to deny resources to citizens.
Read more...Double Whammy: Implicit Subsidies and the Great Financial Crisis
Follow the subsidies, and you will understand why we had the crisis and why not enough has been done to prevent a recurrence.
Read more...Jumping the Abyss: Marriner S. Eccles and the New Deal, 1933-1940
An in-depth look at Marriner Eccles’ ideas and policies, and how well they have withstood the test of time.
Read more...Victorian Central Banks and the Myth of Independence
Central banks have not always been independent, inflation targeting bodies, and to treat them as such is to obscure their complex histories and alternative institutional constellations.
Read more...Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
The chief architects of the exercise in looting otherwise known as the post-crisis rescues are back promoting more of the same.
Read more...Don Quijones: Credit-Cardholders & Bank Customers Burned Again as New IT Chaos Breaks Out in the UK
Another IT outage in the UK serves as pushback to the war on cash, with even the ECB conceding it doesn’t foresee a totally cashless society, leaves those relying on credit cards alone to make payments vulnerable.
Read more...Marshall Auerback: Central Bankers as ‘Dealers of Last Resort’
In their 21st-century role as counterparty/dealer/insurer of last resort, central bankers must not simply use their balance sheets indiscriminately to provide a liquidity backstop during the downturns. They must embrace this counterparty role as an umpire, rather than an enabler.
Read more...Don Quijones: No Other Banks Are This Exposed to Turkey, Argentina, Brazil…. Emerging Markets Haunt Spanish Banks
To diversify from the euro-debt-crisis, the biggest Spanish banks pushed deeply into Emerging Markets. Now, they’re in a new crisis.
Read more...Causes of Turkey’s Crisis
Turkey is entering a major crisis, which many of the media have been quick to blame on Erdogan’s nationalist inclinations. However, the crisis has much more to do with poor economic fundamentals and the lending decisions of European banks.
Read more...TSB: Why Are So Few Customers Leaving a Bank that Trampled on Them?
Despite months of IT mayhem and all kinds of problems, customers cling to TSB Bank in the UK.
Read more...White-Collar Criminals Got Off Scot-Free After the 2008 Financial Crisis — and That Helped Fuel President Trump’s Rise
Ten years later, Trump’s rise to power is a consequence of poor governance.
Read more...Brexit: EU Takes Hard-Nosed Stance on Financial Services “Equivalence” Deals
Is the EU playing iron fist in velvet glove on the UK’s Brexit pitch for a financial services equivalence deal?
Read more...