Category Archives: Banana republic

The UK’s Money Laundering Mess (III): LLPs, Secrecy Jurisdictions, PSCs, and a Forthcoming Fiasco

Why the UK’s latest anti money laundering measures don’t look very convincing

Delhi’s Wasteful “Smart City” for Its Elites: Bloomberg’s Parasitical Model for the Future?

Be warned: “Smart city” is the new code word for pampered, resource-hogging enclaves for the elite.

The ECB’s Original Sin and Franco Modigliani’s Long View

Franco Modigliani foresaw how the ECB and the Eurozone architecture had an anti-growth bias and proposed remedies that were ignored.

A Modest Proposal for an Efficient Rental Market

How to make the housing market conform to mainstream economists’ ideals.

Cyber Security and the Financial System – Why Technology Snake Oil Sells

How banks finesse cyber security risks despite hand waiving by governments and exhortations for the industry to “do something”.

Michael Hudson Discusses the New Global Financial Cold War

Michael Hudson discusses his paper, The IMF Changes Its Rules To Isolate China and Russia, and how jockeying among the big power players is becoming more visible and higher stakes.

Will German Sovereign Debt “Bail In” Scheme Destroy the Eurozone?

Germany is keen on implementing a sovereign bail-in plan that is certain to precipitate a crisis, but more likely a banking crisis than a breakup.

Cyber Security and the Financial System – What Do Governments Want from the Banks?

Governments are combining aggressive, ambitious talk with a curious helplessness in warning banks they really should be Doing Something about terrorist risk.

Utilities Getting Regulatory Support for Screwing Solar Customers

Utilities, with regulatory backing, are working hard to turn homeowner investments in solar into economic white elephants.

Timing of Scalia’s Death a Gift to the Left

Antonin Scalia managed to steal some secure victories from the right by dying earlier today.

Bill Black: The Inaugural Financial Fraud Lemons of the Week Award Goes to DOJ

The inaugural lemons of the week award goes to the DOJ for depicting its humiliating settlement with Morgan Stanley as a triumph.

Eurobanks: The Probable Point of Failure as Systemic Stress Rises

Why Eurobanks are the most likely fracture point if current economic stresses continue.

Former Central Banker William White on the Failure of QE, Danger of Negative Interest Rates

Former Bank of International Settlements chief economist William White criticizes central bank policies sharply, particularly negative interest rates.