Category Archives: Banking industry

More Giveaways to Capitalist Finance? It’s High Time To Change the Objective

Jan Kregel explains the fundamental problem with the economic system is its focus on providing finance to investors.

Tom Ferguson: Biden Blurring Almost Everything

Political scientist Tom Ferguson juxtaposes the factions around Biden with how Roosevelt eventually stared down banks and corporatists in the second phase of the New Deal

How Do Banks Create Money?

A short primer on banks from a Modern Monetary Theory perspective.

Former Board Member Jelincic: CalPERS Claims It Is Protecting Confidential, as in Criminal, Informants in Hiding Details About Lending

CalPERS made damaging statements to justify withholding information about private loans. That suggestswhat it was hiding is even worse.

Mortgage Delinquencies Jump by Most Ever. 60-Day Delinquencies Hit Highest Level Ever. Record 16% of FHA Mortgages Delinquent. What a Mess

A spike in mortgage delinquencies says more bad results are coming, particularly with no new stimulus in sight.

“Savings Glut” Fables and International Trade Theory: An Autopsy

Debunking Bernanke’s pet excuse for the global financial crisis, the savings glut hypothesis, which of course exculpates the Fed.

Why International Financial Regulation Still Falls Short

Financial regulators still don’t like to tame bubbles even after seeing how costly it is when they go boom. Shame, that.

Homeowners Beware: Mortgage Servicers Still Can’t or Won’t Shoot Straight

Mortgage servicers are still engaged the abuses they perpetrated in the foreclosure crisis.

Yanis Varoufakis: Why Bitcoin Is Not a Socialist’s Ally – Reply to Ben Arc

Debunking some major misperceptions about potential roles for Bitcoin and blockchain.

Immaculate Deception, Fed Style

The Fed knows it it is up to no good as far as ordinary citizens are concerned, witness its propaganda efforts.

While EU Leaders Squabble, The Elephant in the Room Remains Unnoticed

Why the EU Covid-19 rescue program is destined to be a sick joke.

Let the Predation Begin! CFPB Rolls Back Obama-Era Payday Loan Protections

Payday loan abuses are baaack, thanks to a full bore lobbying effort.

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.

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.

“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.