J.D. Alt: Paying for Hurricanes
A reminder that the budgetary “paying for things” framing is a way to deny resources to citizens.
Read more...Category Archives: Banking industry
Double Whammy: Implicit Subsidies and the Great Financial Crisis
Follow the subsidies, and you will understand why we had the crisis and why not enough has been done to prevent a recurrence.
Read more...Jumping the Abyss: Marriner S. Eccles and the New Deal, 1933-1940
An in-depth look at Marriner Eccles’ ideas and policies, and how well they have withstood the test of time.
Read more...Victorian Central Banks and the Myth of Independence
Central banks have not always been independent, inflation targeting bodies, and to treat them as such is to obscure their complex histories and alternative institutional constellations.
Read more...Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
The chief architects of the exercise in looting otherwise known as the post-crisis rescues are back promoting more of the same.
Read more...Don Quijones: Credit-Cardholders & Bank Customers Burned Again as New IT Chaos Breaks Out in the UK
Another IT outage in the UK serves as pushback to the war on cash, with even the ECB conceding it doesn’t foresee a totally cashless society, leaves those relying on credit cards alone to make payments vulnerable.
Read more...Marshall Auerback: Central Bankers as ‘Dealers of Last Resort’
In their 21st-century role as counterparty/dealer/insurer of last resort, central bankers must not simply use their balance sheets indiscriminately to provide a liquidity backstop during the downturns. They must embrace this counterparty role as an umpire, rather than an enabler.
Read more...Don Quijones: No Other Banks Are This Exposed to Turkey, Argentina, Brazil…. Emerging Markets Haunt Spanish Banks
To diversify from the euro-debt-crisis, the biggest Spanish banks pushed deeply into Emerging Markets. Now, they’re in a new crisis.
Read more...Causes of Turkey’s Crisis
Turkey is entering a major crisis, which many of the media have been quick to blame on Erdogan’s nationalist inclinations. However, the crisis has much more to do with poor economic fundamentals and the lending decisions of European banks.
Read more...TSB: Why Are So Few Customers Leaving a Bank that Trampled on Them?
Despite months of IT mayhem and all kinds of problems, customers cling to TSB Bank in the UK.
Read more...White-Collar Criminals Got Off Scot-Free After the 2008 Financial Crisis — and That Helped Fuel President Trump’s Rise
Ten years later, Trump’s rise to power is a consequence of poor governance.
Read more...Brexit: EU Takes Hard-Nosed Stance on Financial Services “Equivalence” Deals
Is the EU playing iron fist in velvet glove on the UK’s Brexit pitch for a financial services equivalence deal?
Read more...Yanis Varoufakis: Greece Was Never Bailed Out and Remains in Debtor’s Prison – Bild Zeitung Interview
Yanis Varoufakis revisits the Greece 2015 debt negotiations and describes how Greece still wears the austerity yoke.
Read more...Could Turkey Trigger the Next Global Financial Crisis?
Why the currency crisis in Turkey is a due in part to the failure to take adequate corrective measures after the global financial crisis.
Read more...What Should the EU Do About the Turkish Currency Crisis?
The Turkish lira has been under significant pressure in recent weeks. What is the EU’s exposure to possible crisis in Turkey and how should the EU react?
Read more...