Don Quijones: The Mother of All Storms Builds Over Catalonia’s Independence
What first appeared as reduced tensions between Madrid and Spain’s north-eastern province was merely the calm before the mother of all storms.
Read more...Author Archives: Yves Smith
Reducing Risk-Taking by Regulating Bonuses: EU vs US Dodd-Frank
Bankers whinge about how much tougher their lives are in the post-crisis world. That is no small degree to central banks’ efforts to prop them up having caught up with their bottom lines
Read more...State Officials Try to Hide Their Private Equity Oversight Failures by Asking the SEC to Exceed Its Authority
Nothing like elected officials using letter-writing to a weak agency and asking it to exceed its powers to hide the fact that they aren’t willing to do their jobs. And this shirking of duties is particularly grating since these officials, most important of all John Chiang, the State Treasurer of California, Thomas DiNapoli, the New York State Comptroller, and Scott Stringer, the New York City Comptroller, are powerfully positioned to propose legislation to solve the problem they are trying to fob off on the SEC.
Read more...Calling All Swedish and Sweden-Connected Readers
A Swedish bleg.
Read more...Links 7/23/15
IRS Cracks Down on Private Equity Management Fee Waiver Tax Abuse
The IRS has finally decided to crack down on an not-well-known but flagrant private equity tax abuse, management fee waivers. State and local tax officials enabled this practice, which lowers Federal tax receipts and thus hasthe effect of shifting the tax burden off the 0.1% of private equity kingpins to small fry like you and me.
Read more...Once Again on the IT Challenges in Converting to the Drachma
Why the left is not doing itself, or the Greek people, any favors by minimizing the difficulties in converting to the drachma.
Read more...Gaius Publius: Goldman Sachs – Masters of the Eurozone
Goldman Sachs wields more power in the Eurozone than you think. And it’s not hard to guess who benefits.
Read more...Dan Davies: Greek Banks Were Bigger Beneficiaries of the 2010 Bailout Than French and German Banks
Even though French and German banks benefitted from the 2010 Greek bailout, Greek banks did even more so.
Read more...Wolf Richter: Private Equity Scrambles to Buy Primary Care Doctors, “Leverage” Their Patients
The new fad in private equity is to hoover up primary care practices, particularly ones that focus on Medicare, despite the lack of an economic model for increasing profits.
Read more...Links 7/22/15
Ugly Greek Bank Resolutions and Depositor Bail-Ins Coming Soon
Why the coming bank bail-ins in Greece are going to be far more costly in economic terms than most observers imagine.
Read more...California’s North Coast Wine Industry: How “Sustainable” Is It?
How California’s wine industry contributes to the drought and spends big bucks to tell consumers otherwise.
Read more...Social Security: What Would Happen If the Trust Funds Ran Out?
The answer to a widely-discussed Social Security scenario is not as tidy as has been assumed.
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