Author Archives: Yves Smith

TSB’s IT Fiasco and Some Implications for Banks’ Legacy Systems

A hard look at the continuing IT disaster at UK bank TSB.

Wolf Richter: What Will Rising Mortgage Rates Do to Housing Bubble 2?

Investors have fixated on the rise in Treasury yields. Perhaps they should worry more about what the Fed’s rate increases are doing to mortgage rates.

Links 4/25/18

5 Policies That Could Improve Housing for the Renting Generation

Housing has become a more divisive issue than ever, as rising real estate costs and less job stability make buying a house both harder and more fraught. Renters need better protections, but how to get there?

Marx and Modern Microeconomics

Marx gets some long-overdue credit.

Links 4/24/18

TSB Train Wreck: Massive Bank IT Failure Going into Fifth Day; Customers Locked Out of Accounts, Getting Into Other People’s Accounts, Getting Bogus Data

An epic IT disaster at the UK’s TSB illustrates how fragile banking systems are.

Bill Mitchell: QE Failed in Japan

A short and devastating proof that QE was a bust in Japan.

Hoisted from E-Mail: Brexit, Security, and the UK’s Coming Poodledom

Adding to the tally of how the UK will come out a loser thanks to Brexit.

Middle East Nightmare, Made in Washington

How the US is at risk of creating Armageddon in the Middle East.

Another Naked Capitalism Milestone: 20,000 Posts and Counting!

Naked Capitalism blasts through another milestone!