Bill Black: LIBOR – History’s Largest Financial Crime that the WSJ and NYT Would Like You to Forget
Reporting on the Libor criminal trial in the UK ranges from lame to non-existent.
Read more...Reporting on the Libor criminal trial in the UK ranges from lame to non-existent.
Read more...New evidence shows that when the financial sector grows more quickly, productivity tends to grow disproportionately slower in industries with either lower asset tangibility or in industries with higher research and development intensity. It turns out that financial booms are not, in general, growth-enhancing.
Read more...The Chinese stock market meltdown is accelerating despite government intervention and is blowing back to commodities markets, including copper and oil, which are trading down based on concern that the stock market plunge is a harbinger of even more economic weakness. And the decline may represent the beginning of the end of the faith in China’s command and control economy.
Read more...Why the Greek government and Greek citizens recognize that a Grexit is a terrible idea for them.
Read more...The BIS shellacks Bernanke’s savings glut hypothesis and stresses that financial fragility is still a big risk.
Read more...It’s hard to find an official who is comporting himself very well in the wake of the Tsipras surprise announcement of a referendum on July 5 for a then-defunct bailout offer.
Read more...The ECB has decided to lower the boom on Greece.
Read more...Why the rise of collateral-based lending has been bad for our economic health.
Read more...How modest homes in some of Scotland’s poorest areas became prolific ‘company factories’, and how those companies were used in a giant Moldovan bank fraud
Read more...Greek government officials are preparing plans that would cross Syriza’s famed red lines in order to avert a default. Will Tsipras capitulate?
Read more...Investors are exiting junk bond funds as bankruptcies rise despite the “recovery” allegedly picking up steam.
Read more...Problems in the banking sector played a seriously damaging role in the Great Recession. In fact, they continue to. Macroeconomic models failed to explain the interaction between banks and the macro economy. The problem lies with thinking that banks create loans out of existing resources. Instead, they create new money in the form of loans. The traditional model greatly understates bank and macroeconomic risk.
Read more...The alarming part of the deadlock between Greece and its lenders is the lack of a plan on the creditor side to develop a Plan B, a sort of mirror image of the Greek government’s claim that its has bet everything on securing a favorable agreement.
Read more...Pam Martens and Russ Martens published a mind-boggling expose yesterday on how the SEC is refusing to stop an abuse by major banks that increases systemic risk.
Read more...The long-anticipated verdict in the AIG bailout trial came yesterday, and the Fed is not happy.
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