Author Archives: Yves Smith

Newspaper Woes Intensify in Covid-19 Era: Widespread Job and Pay Cuts as Ad Revenues Fall

While you were busy worrying about coronavirus, the newspaper business took another body blow.

SEC Issues Devastating Risk Alert on Private Equity Abuses; Effectively Admits Failure of Last 5+ Years of Enforcement

The SEC’s Office of Compliance Inspections and Examinations says private equity conduct is really really bad.

LA Times’ Michael Hiltzik Shellacks CalPERS for Trumped-Up Attacks on Board Member Margaret Brown, Toadying to Staff Instead of Providing Oversight

Mike Hiltzik gives the CalPERS board yet another well-warranted dressing down.

Minnesota, Ellison Announces Climate Lawsuit Against Exxon, Koch, and API

Minnesota launches a bold climate lawsuit. What are its odds of prevailing?

Some Basic Lessons for the Governor of the Bank of England, Who Seems to be in Dire Need of Them

The Governor of the Bank of England had a major “put foot in mouth and chew” episode.

Links 6/24/2020

Saharan Dust Storm Expected To Cause Dangerous Air Pollution in U.S. This Week

Jeff Masters tellls you everything you want to know about a dust strorm set to drift over the US

America Sits on Its Hands as Covid-19 Cases Rise

More signs of Covid-19 breakdown.

Massive Credit Losses to Hit European Banks in Q2 and into 2021, Particularly When Debt Moratoriums Are Lifted

Keeping tabs on the wobbly state of EU banks.

The Hidden Deaths Of The COVID Pandemic

Why the Covid-19 death toll is higher than you might think.

Can the Aspen Institute’s Elite Economists Beat the Coronavirus Depression?

A careful look at a new set of rescue schemes devised by some Serious Economists. Honestly, even Larry Summers could do better than this.

Board Member Margaret Brown Sues CalPERS, Board President Over Gang-Style Retaliation for Efforts to Oppose Its Incompetence

Board member Margaret Brown has finally had it with CalPERS’ dirty tricks.

Who Benefits From New Technologies?

Do the benefits of new technologies accrue primarily to inventors, early investors, and highly skilled users, or to society more widely?

Grim Prospects for New York City as Few Office Workers Return Post Lockdown; How Hard Will Other US Cities Be Hit?

An update on getting back to normal (not) in New York City.