Author Archives: Yves Smith
How Overgrown Financial Service Sectors Kill Growth
It’s now becoming cutting edge conventional wisdom that oversized financial service industries are bad for your economic health. Yet the media is only occasionally and timidly is willing to say that what is good for Jamie Dimon is bad for the rest of us.
Read more...Andrew Bacevich: Washington in Wonderland, Down the Iraq Rabbit Hole (Again)
The many false and self-defeating premises behind our continued intervention in Iraq.
Read more...Unresolved Allegations of Criminal Insider Trading Leaks from the Fed
A segment on yesterday’s Boom/Bust program discusses the still-open inspector general criminal investigation into leaks from the Fed.
Read more...What If There is No Deal on Greece?
The alarming part of the deadlock between Greece and its lenders is the lack of a plan on the creditor side to develop a Plan B, a sort of mirror image of the Greek government’s claim that its has bet everything on securing a favorable agreement.
Read more...Joe Firestone: Administration Tries to Resurrect Toxic Trade Deals After Big Defeat. Will It Succeed?
Well, that didn’t take too long. The wonks in the White House, the Republican Leadership and the “free trade” Democrats, have hatched another devious process for passing the Trade Promotion Authority bill, otherwise known as Fast Track.
Read more...Links 6/18/15
Are Locavores a Threat to Feeding the Planet Efficiently?
As local food has grown, so have the number of critics who claim that locavores have a dilemma. Are they right?
Read more...John Helmer: Financial Times Makes Igor Zyuzin a Hero for Standing Up to Putin
A case example of how Financial Times Moscow bureau reporters give advertorial promotion an oligarch applying to the City of London to raise debt and equity finance, buying London and country real estate; and deterring investigation of their business with British libel law firms.
Read more...Links 6/17/15
Time to “Fire” Mary Jo White: SEC Covers Up for Bank Capital Accounting Scam Promoted by Her Former Firm, Debevoise
Pam Martens and Russ Martens published a mind-boggling expose yesterday on how the SEC is refusing to stop an abuse by major banks that increases systemic risk.
Read more...Bank of Greece Issues Grexit Warning, in Move Certain to Intensify Bank Run
The Bank of Greece submitted a required report on monetary policy to the Greek Parliament and the Cabinet this morning. The English language version of the press release shows that it says, in stark terms, that failure to reach a pact with Greece’s creditors will lead to a Grexit and likely a departure from the European Union.
Read more...Naomi Oreskes: The Hoax of Climate Change Denial
How climate change denialists have opened up a new front in their attacks on climate science.
Read more...AIG Bailout Trial Judge Rebukes Fed for Overstepping Its Powers but Awards No Damages
The long-anticipated verdict in the AIG bailout trial came yesterday, and the Fed is not happy.
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