Why is it Groundhog Day? Back in 2011, I wrote a seriously messy blog post about dodgy New Zealand FSPs (Financial Services Providers), their dodgy web sites and people and addresses, and the evidently nonexistent oversight of all of this by the NZ Ministry of Economic Development and the NZ Companies Office. To my surprise, […]
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...Bill Black flags a new stunning bit of bank propaganda, that risk is an unavoidable natural condition that is futile for regulators to control.
Read more...Why both Keynes and Minsky regarded low interest rates as poor policy.
Read more...A report by the Volcker Alliance on financial reform is readable and meaty, and curiously dropped from media sight.
Read more...Three SEC whistleblowers have been proven right in charging Deutsche Bank with misreporting its biggest derivatives risk,. the bank, predictably, looks to have gotten off easy.
Read more...As the regulatory actions accumulate, Belvedere Management looks less and less like a maligned fund manager, and more and more like a giant fraud. How much of the $16Bn it purported to manage is left?
Read more...Nobel Prize winner Robert Merton and Arlin Muralidhar have charged ZIRP and QE happy central banks with economic malpractice.
Read more...The CWM FX fraud bust, a murder, Princess Anne and some groping. It’s BAU in the world of sports sponsorship.
Read more...How the managers of the Postal Service, in conjunction with politicians, have worked to undermine the effectiveness of a public infrastructure that is capable of producing broad economic and social benefits.
Read more...Fallout from the HSBC session of the Public Accounts in which Mossack Fonseca’s name cropped up and Margaret Hodge administered a few tongue-lashings
Read more...Sharing economy businesses cannot cannot grow as regulatory cowboys. But, vested interests will be happy to strangle them with red tape.
Read more...First in a series of posts exploring Virgin Gold, an immense ($2Bn?) pyramid scheme with a messy aftermath
Read more...The year 2015 has just started, and already there have been two junk-bond casualties: the first on Thursday, and the second one yesterday. They weren’t energy companies. Energy companies don’t even try anymore.
Read more...Even though traders say they like volatility, their attitude is straight out of Goldilocks: : not only is too little too bad, but so is too much. The recent oil price plunge has sent rattles across financial markets around the world, with more knock-on effects expect as shale gas players start to show signs of stress.
And today’s big event was so unforeseen as to verge on being in black swan terrain. The Swiss National Bank, which had a program in place to keep the euro from falling below 1.20 to the Swiss franc.
The Swiss National Bank abruptly terminated the cap today. The currency move was brutal.
Read more...