Let the Predation Begin! CFPB Rolls Back Obama-Era Payday Loan Protections
Payday loan abuses are baaack, thanks to a full bore lobbying effort.
Read more...Category Archives: Banking industry
NY Department of Financial Services Fines Deutsche Bank Over Jeffrey Epstein Abuses; Where Are the Feds?
Deutsche Bank revealed again as being overly accommodating to clients who play fast and loose….this one Jeffrey Epstein.
Read more...Will the E-Money Boom Make the UK a Hub of Money Laundering?
Quelle suprise! E-money is facilitating financial fraud. And the UK’s FCA is unduly accommodating.
Read more...“Warren’s Eviction Bill Is Economically and Politically Savvy”
Why Warren’s eviction bill, which calls for a one-year eviction freeze, does not go far enough to save homeowners, tenants, and businesses.
Read more...Key CIA-Backed Ally Indicted for Organ Trade Murder Scheme
A sordid example of what happens when the CIA is willing to get in bed with just about anyone to advance what it sees as US interests.
Read more...Three Strikes against the Fed
Until the results of new stress tests are known, the uncertainty principle calls for extreme caution in the regulator’s approach to the capital adequacy of systemically important banks (and indeed of banks in general).
Read more...The Good, the Bad, and the Ugly About the Fed’s New Credit Allocation Policy
Why using credit as an economic remedy evenutally does more harm than good.
Read more...The Federal Government Always Money-Finances Its Spending: A Restatement
An explanation of the mechanics of Federal spending, with emphasis on the role of the Fed and Treasury.
Read more...WSJ Says Banks Can’t Determine Who Is Credit-Worthy: More COVID-19 Fallout
WSJ says banks can no longer determine who is credit-worthy using existing models – more COVID-19 fallout, this of uncertain magnitude.
Read more...Michael Hudson on Coronavirus and Debt Winners and Losers
Michael Hudson explains why debt cancellation and turning banks into utilities is the only sound response to the cornacrisis.
Read more...Some Basic Lessons for the Governor of the Bank of England, Who Seems to be in Dire Need of Them
The Governor of the Bank of England had a major “put foot in mouth and chew” episode.
Read more...Massive Credit Losses to Hit European Banks in Q2 and into 2021, Particularly When Debt Moratoriums Are Lifted
Keeping tabs on the wobbly state of EU banks.
Read more...The Bank of England Votes for More QE – But This Is a Road That Will Run Out
Yves here. Richard Murphy’s observations about QE hitting its limits are clearly relevant to the US. Sadly, things will have to get worse before ideas like a job guarantee or Green New Deal-type work schemes even get a hearing. By Richard Murphy, a chartered accountant and a political economist. He has been described by the Guardian […]
Read more...Italy Once Again on the Eurozone Worry List
A new tsunami of bad debts washes ashore in Italy while banks are still struggling with the debris from the prior deluge of bad debts.
Read more...More on Frank Partnoy’s Misguided Take on Collateralized Loan Obligations
No, collateralized loan obligations are not about to wipe out banks, and Frank Partnoy should have focused on real risks, like destruction of productive capacity.
Read more...