How The Bond Buyer Hyped a Goldman Ripoff of DC Water as “Deal of the Year”
Municipal bond publication The Bond Buyer gives itself a black eye by touting a ripoff of a sewer and water authority as a good deal.
Read more...Category Archives: Credit markets
Finance and Growth: The Direction of Causality
Too much finance is highly correlated with slower growth. But which comes first?
Read more...Tom Ferguson: Monetary Policy Can’t Levitate a Broken Economy
How central banks’ policy remedies have taken big steps backwards.
Read more...F@ck Work?
Why arguments against work are another manifestation of neoliberalism.
Read more...Don Quijones: Power & Profit Fuel War on Cash in Europe
Be warned: European officials have already starting taking tough moves in the war on cash.
Read more...Republicans Likely to Pass “Audit the Fed”
“Audit the Fed” is likely to become law. It’s about time.
Read more...Ambrose Evans-Pritchard: Trump Effect Won’t Stop Credit Crunch
Forecasts for the US depend heavily on what Trump might actually get done. Ambrose Evans-Pritchard thinks Mr. Market is out over his skis.
Read more...Nomi Prins: My Political-Financial Road Map for 2017
Some specifics of why political risk and central bank policy will make for a wild ride in 2017.
Read more...Doves, Hawks… and Pigeons: Why Central Bankers Favour Monetary Policy Inertia
The discussion of the delayed lift-off in US monetary policy is just the latest episode in a long-lasting debate over the causes of inertia in monetary policy. This column approaches the issue by assuming that psychological drivers can influence the decisions of central bankers. Loss aversion is one source of behavioural bias which can explain delays in changing the stance of monetary policy, including the fear of lift-off after a recession.
Read more...Deutsche Bank Wins in Stare-Down With Department of Justice Over Mortgage-Backed Securities Liability; Credit Suisse Also Settles While Barclays Holds Out
Deutsche came off well in a mortgage settlement with the DoJ, while Barclay’s decision to fight doesn’t look so smart.
Read more...Italy Announces Sketchy Plan to Bail Out Monte dei Paschi
The Monte dei Paschi domino is finally about to fall. But what does that mean in practice?
Read more...Greece and Creditors in Showdown Again
Greece tried a surprise move to slip the creditors’ leash. Sadly, it’s not likely to succeed.
Read more...Trump Picks Ex-Goldman Banker, Steve Mnuchin, Known as ‘King of Foreclosures’ to Head Treasury
Why you should be worried about the prospect of Steve Mnuchin as Treasury Secretary.
Read more...Bill Black: Howard Dean Wants to Continue Austerity’s Assault on the Working Class
Why Democrats like Howard Dean believe in and sell austerity snake oil.
Read more...Wolf Richter: US Pension Crisis: This is How Families Get Squeezed to Bail Out Pension Funds in Chicago
Coming to a municipality near you..
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