Jim Chanos: “The Crypto Ecosystem Is Well-Suited for the Dark Side of Finance.”
The famed short-seller talks Sam Bankman-Fried, why Wall Street is still so keen on crypto, and how technology is making us dumber
Read more...Category Archives: Banking industry
The Fed’s Bank Capital Three-Card Monte: Undermines Tighter Rules by Allowing Synthetic Risk Transfers to Famed Hedge Fund Bad Actors Like Magnetar, Ares
The Fed again seems unable to contain its bad impulses.
Read more...Credit Suisse Forced Marriage Gins Up $9 Billion in Legal Claims in Addition to RICO/Swiss Law Suit for Longstanding Misconduct and Crimes; Amicus Brief by Better Markets Supports RICO Claim
Is Credit Suisse going to become the Jarndyce and Jarndyce of failed bank litigation?
Read more...Plaintiffs in Mammoth RICO/Swiss Law Suit Versus Credit Suisse, Many Directors and Execs, and KPMG for Egregious Misconduct File Response to Defendants’ Objections
An update on a monster lawsuit against Credit Suisse (now UBS), KPMG, and various executives for a decade of very costly misconduct.
Read more...Russia, China Unite Against US Empire
Michael Hudson on China’s wobbles, Russia-China cooperation, the revolt against colonialism and neoliberalism, and the conflict in Gaza.
Read more...WSJ’s Greg Ip Discusses China Crisis Risk
Fed whisperer Greg Ip expresses cautious concern about China, based on the latest IMF forecasts.
Read more...30-Year Treasury Yield Spikes Past 5%, 30-Year Mortgage Rates Hit 8%, Mortgage Applications Plunge
Treasury bond bloodbath, housing Market in deep-freeze, as delusions fade.
Read more...Beware Climate Finance Charade
Finance has increased, not reduced, greenhouse gas emissions. Yet the industry is bizarrely touted as part of the solution.
Read more...Michael Hudson: A BRICS+ Bank: How Would It Really Function?
Michael Hudson clears up some of the considerable confusion about what a new BRICS “currency” would amount to.
Read more...Crisis Risks Looming, UK Edition
While a UK crisis is not yet brewing, there are plenty of worrisome developments that could keep moving in the wrong direction.
Read more...Consulting Ethics: McKinsey Pays Additional $230 Million Opioid Settlement, Bringing Total to $870 Million
McKinsey’s latest payoff to avoid admiting culpability reveals some of the inherent problems with high-end management consulting.
Read more...Quelle Surprise! Bank Too Big to Fail Problem Not Solved as Lobbyists Scheme to Make It Worse
Bank lobbyists want to weaken bank regulations even after rich stakeholders in recent “not-to-big-to-fail “bank failures were rescued.
Read more...The Coming Ukraine Collapse and the “Rebuilding” Headfake
The hyping of Ukraine rebuilding is at least as delusional as the earlier war talk.
Read more...How the Fed Created the Post-2008 Global Safety Net for Banks
The “liquidity” support provided by the Fed to megabanks through cross-border lending in fact acted as subsidies.
Read more...The Lehman Disaster and Why It Matters Today
On September 15, 2008, Lehman Brothers, a giant investment bank, filed for bankruptcy. The shock was profound; world markets melted down.
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