Bank IT, Grexit, and Systemic Risk
Why bank IT is more of a mess than you possibly imagined, and why that matters.
Read more...Author Archives: Yves Smith
Chovanec: China Destroyed Its Stock Market
China apparently did not get the memo about not letting stock market leverage get out of hand.
Read more...Please Catch Our Discussion of Greece on Harry Shearer’s Le Show Today
We had a good conversation with Harry Shearer on Greece. Hope you will listen in!
Read more...Links 7/18/15
Quick Update on Greece, Germany, and the IMF
We’d posted earlier this week that odds favored a Grexit. With the Greek bridge loan deal having passed the key hurdle of securing passage in the German Parliament, and Lagarde making it clear that the IMF will support an eventual bailout deal with “restructured” loans (ie, no haircuts), the odds have shifted. It is now more probable that this pillage-of-Greece program stays on track near term, meaning the so-called “third bailout” gets completed.
Read more...Michael Hoexter: Climate Defeatism is as Much a Threat to Human Survival as Climate Denial – Part 1
Human beings face the choice whether to preserve parts of our present civilization or create elements of a new one or alternatively, head towards self-extinction.
Read more...Greece and the Missing Banking Union
If the Eurozone had a proper banking union, Greek banks would not now be in crisis.
Read more...Links 7/17/15
The 3 Most Ludicrous Corporate Arguments Against CEO-Worker Pay Disclosure
Public corporations and their lobbyists make intelligence-insulting arguments against Dodd-Frank mandated CEO-worker pay disclosure.
Read more...What’s Wrong with Inflation Targeting?
Macroeconomic policy focused on inflation targeting is likely to deliver neither macroeconomic stability nor economic development, aka sustainable growth.
Read more...We Will Discuss Greece on Harry Shearer’s Le Show This Sunday
Le Show is broadcast in New Orleans WMNO on Sunday at 8:00 PM or you can stream it or download a podcast from his site here.
Read more...The Augean Stables – How Corruption Has Amended the Constitution
The institutionalized elements of corruption in America are so powerful that they’ve been able to gut the Constitution.
Read more...Links 7/16/15
ECB Expected to Continue to Strangle Banks, Not Provide More ELA Funding Today, Despite Greek Parliament Passing Austerity Legislation (Updated: ECB Does Not Provide All of Requested Funding, Attaches New Strings)
The ECB is in full sack-of-Carthage mode if it fails to increase the ELA today to give Greek banks some hope of survival and more important for the economy, of providing payment services to citizens, businesses (particularly importers) and tourists
Read more...John Helmer: What is the Price of Suppressing the Truth in the Info War Against Russia?
Most people don’t think too hard about the fact that there is a price for secrecy, and when the truth is dangerous, the price is high.
Read more...