How Bankers Hide Losses
Like master illusionists, bank accountants conceal losses from federal regulators, putting the whole economy at risk
Read more...Category Archives: Banking industry
It’s Time for a Debt “Jubilee”
Households and businesses are overloaded with debt. Richard Vague offers a set of proposals for how to restructure it.
Read more...Democracy Scares, from the Destruction of Bryan to the Abdication of Bernie: Why America Desperately Needs a Second Populist Movement but Ain’t Gonna Get One an interview + Review of The People, No! A Brief History of Anti-Populism by Thomas Frank
Thomas Frank explains why populist campaigners face such a hostile environment now.
Read more...Michael Hudson: How an “Act of God” Pandemic Is Destroying the West: The U.S. Is Saving the Financial Sector, Not the Economy
The coronavirus’ effect has been to help defeat the financial sector’s enemy, governments strong enough to regulate it.
Read more...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.
Read more...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
Read more...How Do Banks Create Money?
A short primer on banks from a Modern Monetary Theory perspective.
Read more...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.
Read more...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.
Read more...“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.
Read more...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.
Read more...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.
Read more...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.
Read more...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.
Read more...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.
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