CalPERS has engaged in one of the most bone-headed moves ever, the financial equivalent of picking up pennies before a steamroller.
Read more...Central counterparties, also known as central clearinghouses, were supposed to reduce systemic risk. That story is not playing out according to its script.
Read more...Bill Black is spearheading an important initiative by bank whistleblowers to combat fraud and other abuses by banks.
Read more...Larry Summers, acting as a proxy for Team Clinton, attacked Sanders’ reform proposals, particularly the an updated Glass Steagall. Her’s why Summers is wrong.
Read more...How Michael Lewis’ The Big Short, whether for profit or by accident, has denied the public the truth about what really causes the crisis.
Read more...John Dizard, who perhaps by virtue of being one of the Financial Times’ most original and insightful columnists, is relegated to its weekend “Wealth” section, has written a particularly important pair of articles. Note that Dizard’s ambit is not policy wonkery but apt and often cynical observations about behavior and trading patterns in less visible […]
Read more...How Argentina’s former president Kirchner’s loss is vulture fund chief Paul Singer’s big win.
Read more...Foreign Banks Such as Deutsche Using Variant of Lehman “Repo 105” Balance-Sheet Tarting Up Strategy
Read more...How the debate on negative real rates has missed role of demand for “safe” collateral for derivative positions, and why that is central.
Read more...Every time I read a new, improved set of excuses from people like Bernanke, I feel like I’ve walked into my kitchen and turned on the lights after the exterminator paid a visit, only to find cockroaches all over my counter yet again.
Read more...An interview with Michael Hudson on his latest book, Killing the Host, which focuses on the destruction wrought by financial capitalism.
Read more...Mega commodities trader Glencore and its big peers are looking wobbly. How worried should you be?
Read more...Yes, banks really do want the Fed to raise interest rates.
Read more...While it’s gratifying to see former UBS trader Tom Hayes go to jail for large-scale Libor bid rigging, his bosses had to have known what he was up to. So when will we see their indictments?
Read more...Let us not kid ourselves that the Democratic party is also for the most part out to gut financial regulation.
The only reason that there is more space between Congressional Republicans and Democrats than usual is the pro-business, pro-bank “blue dog” wing of the Democratic party has gotten deservedly slaughtered in the last two Congressional elections for selling out what used to be the American middle class. So the more progressive-minded survivors are a bigger faction on a relative basis than they once were.
This Real News Network interview with Bill Black covers both a critical slice of the history of financial regulations (or more accurately, its rollback) as well as some of the current dynamics.
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