SEC Commissioner Kara Stein Issues Blistering Dissent on Waivers for Bank Recidivists
SEC Commissioner Kara Stein strikes again, this time to object to the SEC giving waivers to recidivist bank bad actors.
Read more...SEC Commissioner Kara Stein strikes again, this time to object to the SEC giving waivers to recidivist bank bad actors.
Read more...So why shouldn’t banks admit to criminal conduct? They get slap on the writs fines and no one goes to jail.
Read more...Yesterday was a sad day for American citizens. Benjamin Lawsky, the Superintendent of the New York State Department of Financial Services, announced that he was resigning in June.
Read more...A flurry of stories this weekend confirms that Greece and its creditors remain hopelessly at odds. The inertial path is to a Greek default
Read more...Today, Greece blinked. But one unconfirmed report suggests the government got some eyewash.
Read more...A Greek default looms, but what does that mean for Greece and its creditors?
Read more...By David Dayen, a lapsed blogger. Follow him on Twitter @ddayen. Because of the blinkered way we talk about the economy in this country, news that the trade deficit widened in March well above consensus expectations will undoubtedly be met by cries that we must create more free trade deals to counteract that. Of course, […]
Read more...In case you had any doubts that Greece is supposed to act like a good debt vassal, the Eurogroup’s hissy fit over Yanis Varoufakis at last Friday’s meeting, which stoked a raft of unflattering articles, has now led it to demand to that Greek government remove him.
Read more...The Greek negotiations with the Eurogroup are exemplifying the saying, “Things look the darkest before they go completely black.”
Read more...Yet another reason to hate the TPP.
Read more...Greek stocks ventured deeper into purgatory. The ASE index dove below 700 intraday on Wednesday for the first time since the crisis days of June 2012. Then word spread that the ECB had raised the cap on the Emergency Liquidity Assistance for Greek banks by €1.5 billion to €75.5 billion. It’s the oxygen line for Greek banks. Without it, they’re toast.
Read more...Yves here. This is a short but important debate over how much to worry about the upcoming train wreck in emerging markets when the Fed finally gets around to tightening. Pettifor sees it as a potential global crisis event; Macrobusiness sees it as a typical emerging markets bust. The Pettifor viewpoint seems more on target. First, […]
Read more...Despite the market jitters of last Friday, which were triggered in part by the recognition that the odds of Greece reaching a deal with its creditors are far lower than had been widely assumed, Greek-related coverage has ratcheted down, even as Greece seems certain not to get any funds released in the April 24 Eurogroup meeting and is very likely to miss the end of April deadline for getting its reforms approved by the Troika and Eurogroup.
Read more...A Greek default does not mean an inevitable Grexit. But even in the event of a default in the Eurozone, the costs to Greece of staying in the Eurozone are set to rise.
Read more...The financial media has attributed considerable importance to the fact that many of America’s close allies, including the UK, Australia, and Israel, have joined China’s new infrastructure bank against the clearly-stated desires of the US. While these moves seem to signal America’s declining influence, it does not necessarily follow that the infrastructure bank is destined to become a major international institution any time soon.
Michael Pettis deflates some of the hype surrounding this initiative, arguing that it is less significant from a geopolitical and practical perspective than virtually all commentators assume. China is simply not about to become the issuer of the reserve currency any time soon, and that limits how much financial clout it will have.
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