Australia Burning; Tourists in New South Wales and Victoria Flee to Beaches
A grim take from smoky Australia.
Read more...Category Archives: Banking industry
After the Argentina Debacle, the IMF Endorses Weakening Capital Controls in Ecuador
The IMF is backing a tax reform bill in Ecuador that will enable capital flight and further austerity.
Read more...Sweden Retreats from Negative Interest Rate Experiment
Sweden throws in the towel on its negative interest rate policy as inflation stays stubbornly low.
Read more...Misunderstanding Volcker
A reappraisal of Volcker, who was more hostile to workers and less hard on financiers than the press would have you believe.
Read more...BBVA Compass Fails to Dispute, Much the Less Remedy, Retaliatory Swatting, Disclosure of Confidential Information, and Reckless Treatment of Elderly Customer
BBVA has not denied that an officer swatted an elderly woman on fabricated grounds as retaliation for documenting his reckless advice.
Read more...Why the UK Needs a Financial Transaction Tax
Claims that a financial transaction tax would be difficult to implement and raise little revenue are fake news.
Read more...What’s Behind the Subprime Consumer Loan Implosion?
Subprime loan repayment continues to deteriorate. What is going on?
Read more...BBVA Compass Branch Manager Retaliates Against Elderly Customer Via Trying to Have State Agency Deem Her Incompetent on Fabricated Grounds
A BBVA Compass vice president retaliates against a long-standing customer for seeking an Americans With Disabilities Act accommodation and documenting his incompetent, high-handed responses.
Read more...Repo Madness: Fed Plumbing Gone Awry
How the Fed’s fingerprints are all over the repo mess.
Read more...Private Equity Under the Hot Lights Today at House Financial Services Committee Hearing, “America for Sale?”
Private equity gets some long overdue scrutiny.
Read more...The Rich Under Stress as Asset Prices Wobble
Some of the rich are feeling the pinch. Is this a passing phenomenon or a sign of things to come?
Read more...Non-Financial Private Debt Overhang: Post War German Debt Reforms as a Model for a Modern Debt Jubilee?
Private debt levels are even higher than in 2008 but super low interest rates make that look less worrisome than it arguably should be. T. Sabri Öncü ponders how to go about large scale debt relief.
Read more...Roiled Repo Markets: Looking for Answers in All the Wrong Places
If you are worried about repo, you are worried about the wrong thing. If anything, it’s a symptom of too much liquidity demand from the FX swaps market.
Read more...German Finance Minister Pumps for EU-Wide Deposit “Reinsurance” But Expected Details Mean Lots of Gaps Likely
The lead story in the Financial Times tonight is that Germany’s finance minister Olaf Scholz is pushing for an EU-wide deposit scheme…of sorts. Even though Scholz’s plan appears to be more modest than the headlines indicate, even a halting move towards EU-level fiscal commitments would be a significant departure from Germany’s traditional stance of barring […]
Read more...Why the World Will Remember Departing ECB President as the Not-So-‘Super’ Mario Draghi
Looking back at the legacy of the man who created “the most deformed bond market in history.”
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