Russian Companies Plan to Denominate More Trade in Renminbi
Russian companies are mounting a challenge to the dollar by seeking to arrange trade transactions in other currencies. But how serious a threat is it?
Read more...Category Archives: Banking industry
Negative ECB Deposit Rate: But What Next?
The ECB is expected to cross a Rubicon today by implementing negative deposit rates. What is the impact likely to be?
Read more...Ilargi: The Illusionary Economy Revives Helocs, the Home ATM
Yves here. Ilargi is duly skeptical of the enthusiastic financial press response to an increase in home equity liquidation, um, borrowing using home equity lines of credit, or Helocs. While the party line is that this development reflects an rise in home equity and increased consumer confidence, Ilargi stresses that prices appreciation that the Fed has created, the Fed can also take away. I have to wonder how many of these Heloc borrowers are doing so out of necessity or near-desperation.
Read more...Bill Black: OCC as Case Study of How Regulators Decide to Fail
Yves here. I’m highlighting this post for a basic reason: there’s a lot of cynicism about regulation. Many Americans have bought the right-wing line that regulations can’t work. But here, whether by accident or design, a reform program at a key bank regulator, the OCC, is going off the rails due to bad strategic choices.
Read more...Don Quijones: The Bank That Nobody Wants To Buy
The sorry tale of the supposedly restored Spanish zombie bank Catalunya Caixa.
Read more...Credit Suisse’s Guilty Plea: The WSJ Uses the Right Adjective to Modify the Wrong Noun
Yves here. I generally avoid Wall Street Journal editorials because they are designed to make readers stupider (op eds are a different matter, some decent pieces get published). Bill Black does yeoman’s work in deconstructing the Journal’s attempt to depict Credit Suisse as a victim of Department of Justice overreach.
Read more...R. Hunter Biden Should Declare Who Really Owns His New Ukrainian Employer, Burisma Holdings
Trying to pierce the murk around the new Ukrainian venture of Vice President Biden’s son R. Hunter Biden
Read more...Wolf Richter: This Chart Is The Fate of Housing In America As Student Loans Bankrupt A Whole Generation
Student loans are a millstone that is crushing college educated young adults, and with them, key parts of the economy.
Read more...DoJ Does Victory Lap on Credit Suisse Guilty Plea on Single Criminal Charge
The Department of Justice wants the public to see the guilty plea it obtained from Credit Suisse as a Big Deal. Is it?
Read more...A Whistleblower’s Tainted Defeat: CA Appellate Reversal Paves Way for Continued Bank Retaliation
How an appellate court ran roughshod over bedrock principles of judicial review to reverse a decisive victory by a Countrywide whistleblower.
Read more...New Zealand: the Shell Company Incorporation Franchises (III)
We remind the New Zealand government that a shell company network linked to $10-100Bn of alleged moneylaundering is still active in New Zealand.
Read more...Andrew Ross Sorkin, Timothy Geithner, and the Three Card Monte Model of Propaganda
Truth be told, I had really wanted to ignore Andrew Ross Sorkin’s artfully packaged Timothy Geithner puff piece in the Sunday New York Times magazine. But it makes for a useful study in a not-well-recognized propaganda technique, three card monte.
Read more...Has America’s Use of Finance as a Foreign Policy Tool Backfired?
How America’ s abject fealty to the financial services industry, and its promotion of open capital markets in emerging economies, privatization and its tolerance of tax havens, have destroyed US credibility in Eastern Europe.
Read more...Why QE May Have Done Net Damage
Quantitative easing has been a controversial policy even among the financiers who benefitted from it.
Read more...No Evidence Justice Department Will Prosecute U.S. Banks Responsible for Financial Crisis
Bill Black is in particularly fine form in this Real News Network video.
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