Category Archives: Banking industry

‘If We Want to Tackle Climate Change, We Want Them to Go Bankrupt … Right?’

Yes, Biden is sabotaging the climate, just like the other guy…but that’s not why Saule Omarova nomination as Controller of the Currency failed

Too Big to Strand? Bond Versus Bank Financing in the Transition to a Low Carbon Economy

Banks continue to provide financing to fossil fuel firms that the bond market would not finance as long as they do not price the risk of stranded assets. In this setting, stranded assets risks may have shifted to large banks.

Foreclosure Looms for Homeowners Who Thought They’d Won, Thanks to Top New York Court Ruling

Foreclosure suits from the financial crisis era get a new life thanks to a ruling by a conflicted New York judge.

Finance Group Fails To Deliver at COP26

Finance, which some see as uniquely positioned to save the planet, has already bankrolled 1.5֯ C of warming.

Michael Hudson on Truth Jihad Radio Discussing Super Imperialism, Rentierism, and the American Political Duopoly

Michael Hudson gives a wide-ranging talk, including American policy in the post-war era, how economics ignores debt, and class warfare.

Jobs Grow — Along With the Pandemic Gap Between Rich and Poor New Yorkers

The example of New York City shows that the rich are continuing to pull ahead during the Covid respite.

An Increase in Interest Rates Would Be An Act of Class Warfare

While increasing interest rates to combat this inflation is bone-headed, the Fed has long wanted to be out of super low rate terrain.

General Electric Breaks Up, Symbolizing Decline of American Manufacturing and the High Price of Financialization

How stock price fixated management and a big expansion into financial services under Jack Welch did in the once-esteemed General Electric.

Latest Fed Financial Stability Report Underplays Supply Chain Risk

The financial press overhyped the latest Fed stabilty report’s comments on China, and ignored the near total absence of supply chain woes.

Halloween Is Over – Are Corporate Zombies Still Out There?

Corporate debt levels are up due to Covid. Some will businesses will not make it. Restructuring sooner is better for everyone than later.

Debt Cancellation: Taxi Drivers Savor Victory as Medallion Debt Bailout Deal Ends Hunger Strike

How New York City taxi drivers won a rare and much needed debt restructuring.

‘Manchin Is a F**king Snake’: Progressives Urged to Keep Pushing for Both Bills

Jayapal is “letting the president” handle Manchin after he says he won’t budge on the reconciliation package.

What May Happen When Central Banks Wake Up to More Persistent Inflation?

Sudden policy reversals could lead to severe downturns in financial markets and significantly damage public sector balance sheets.

Jim Chanos: China’s “Leveraged Prosperity” Model is Doomed. And That’s Not the Worst

Famed short-seller Jim Chanos is more concerned with political fallout from China’s Evergrande than economic/financial woes.

New Report Highlights Corporate Funding of Police Foundations, Which Encourage Police Militarization and Thwart Reform

Corporations funnel significant funds to anti-reform police foundations, while publicly supporting PR campaigns for police reform.