War on Cash: UK Cash Deserts
Latest news in the War on Cash: the problem of cash deserts in the UK – areas abandoned by banks, for economic reasons, and that lack ATMs. These tend to be rural areas, or areas of economic deprivation.
Read more...Category Archives: Banking industry
Bankruptcy: An Option for Taxi Drivers Crushed by Medallion Loans?
Contrary to what the NYT asserts, taxi drivers who can get competent legal advice might find bankruptcy allows them to escape onerous medallion loan burdens – and keep their medallions.
Read more...Bill Black: Ocasio-Cortez & Sanders Introduce Bill to Cap Credit Card Interest Rates at 15%
Ocasio-Cortez and Sanders introduce legislation: they call it Loan Shark Prevention, which would allow post offices to act as banks and cap interest rates at 15%, but credit card companies claim it would hurt the poor.
Read more...Facebook’s Finance Fantasy Island Dreams
Facebook wants to become a big payments system player. Good luck with that.
Read more...“It’s Not Just Barclays – Tackling Climate Change Means Building a New Bank System”
A discussion of using bank lending as a way to tackle climate change.
Read more...ZEN and the Art of Modern Money, Part 3 (MMT)
More MMT for people in a hurry.
Read more...ZEN and the Art of Modern Money, Part 2 (MMT)
MMT for people in a hurry.
Read more...Why You Should Back the Sanders/AOC Plan to Cap Credit Card Interest Rates at 15%, Re-Launch the Postal Savings Bank
A new bill by Bernie Sanders and Alexandria Ocasio-Cortez seeks to limit credit abuses and make banking more accessible.
Read more...Perhaps It’s Time to Start Worrying About Global Corporate Debt, Suggests Bank of England
China’s exploding corporate debt is a cause for pause.
Read more...Student Loan Forgiveness Program Offers False Hope, Rejects 99% of Applications
The infamous HAMP program, which the Administration revised so many times on the fly as to give incompetent and mendacious mortgage servicers air cover for failing to modify mortgages, at least had a stealth purpose. As Treasury Secretary Timothy Geithner said to the SIGTARP’s Neil Barofsky, it was to foam the runway for banks by […]
Read more...ZEN and the Art of Modern Money (MMT)
Working through a primer on MMT.
Read more...Coping With World Bank-Led Financialization
The World Bank has successfully promoted its ‘Maximizing Finance for Development’ (MFD) strategy by embracing the United Nations’ Sustainable Development Goals, internationally endorsed in September 2015.
Read more...Bill Black: If Current Laws Prosecuting Bankers Aren’t Used, What Can Warren Change?
Bill Black demolishes the notion that we can’t prosecute banksters with laws now in place. He there’s no need to pass new laws – as Senator Elizabeth Warren proposes – but instead to appoint regulators and legal officers who’ll use what we know about dealing with criminogenic environments to prosecute white collar criminals. And to provide them with support and resources.
Read more...The Effectiveness of the Global Financial Safety Net Depends on the Tools and Shocks
This column evaluates the effectiveness of the use of IMF support and foreign reserves in globally driven crises
Read more...Empire and Economics: The Long History of Debt Cancellation from Antiquity to Today
Get a cup of coffee. A meaty talk by Michael Hudson, Liz Theoharis, and Aliou Niang on the social and economic logic of debt cancellation back when it was a regular practice.
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