Author Archives: Yves Smith

Deutsche Defies DoJ, Says It Won’t Pay Anything Near $14 Billion in Mortgage Settlement

Deutsche has launched a media war against the DoJ.

Wolf Richter: That 5.2% Jump in Household Income? Nope, People Aren’t Suddenly Getting Big-Fat Paychecks

The much-ballyhood 5.2% gain in household income doesn’t square with other data….and the details aren’t as pretty as the headline either.

DoJ Asks Deutsche Bank to Pay $14 Billion in Mortgage Settlement

The Obama Administration is trying to wrap up long-overdue mortgage-related cases, with Deutsche and possibly then other foreign banks.

Report: Why We Need to Tax Corporations Now, More Than Ever

Why the idea that corporations should get favored tax treatment is dubious.

Links 9/15/16

DoJ Opens Investigation Into Wells Fargo Fake Accounts; Why Top Execs Are Responsible

Sanctimonious Wells Fargo may finally be getting its comeuppance.

The City Will Decline—and We Will Be the Poorer for It

What might Brexit-induced losses to the City cost the UK economy?

Satyajit Das: The Business of Politics

Do business leaders make good political leaders?

US Commercial Real Estate Markets Are Sinking….Again….

US commercial real estate is starting to slide…a blip or a trend?

Links 9/14/16

Wells Fargo CEO John Stumpf Blames Nasty, Scheming Employees for Fake Accounts Scandal

If Stumpf were captain of the Titanic, not only would the crash be the iceberg’s fault, but he’d also get the first seat on the lifeboat

John Helmer: Did Hillary Clinton Take Money From Russia Oligarch Oleg Deripaska for a Favor in the General Motors-Opel Deal?

The curious tale of a Russian’s oligarch’s donation to the Clinton Foundation and his failed attempt to make an acquisition from General Motors.

Dakota Access Pipeline: The Wrong Side of a Long, Long History of Resource Extraction

On the bogus economic case for the Dakota Access Pipeline.

Thomas Palley: The Fed’s Misguided Approach to Tightening

The Fed touted its “creativity” in bailing out banks during the crisis. That “creativity” is absent in how it is planning to exit its extraordinary policies.