Category Archives: Banking industry

Richard Murphy: “First, Let’s Kill All the Accountants” – On Accounting’s Systemic Failure

Why taking accounting for granted is a really bad idea.

ECB Fears Contagion from Turkish Lira Collapse, Bank Stocks Plunge

The Turkish lira’s swan dive is causing all sorts of collateral damage.

Michael Hudson: Life and Thought – An Autobiography

Michael Hudson discusses his life as a young Communist intellectual, how he became interested in economics and finance, his life in academia, and his recent work on rentier capitalism and debt jubilees.

Bill Black: Pre-Crisis “4506-T Studies” Showed Massive Fraud in Liar’s Loans; Fed Ignored Warning, DoJ Refused to Target Implicated Banksters

Yet another proof that the authorities were given evidence of widespread mortgage fraud before the crisis and chose to do nothing about it.

The Michael Hudson Report: The “Next” Financial Crisis and Public Banking as the Response

Michael Hudson explains how we’re still in the crisis that started in 2007-2008.

The Explicable Mystery of the National Debt

Why US Treasury bond issuance and Federal deficits are functionally not debt at all.

Bill Black: Mankiw Whiffs on “Learning the Right Lessons from the Financial Crisis”

Bill Black debunks a book that tries to relitigate the crisis by denying that Lehman was insolvent.

China Pumps $74B Into Banks Amid Credit Crisis

China throws some money at banks to offset the effects of its deleveraging initiative.

10 Down-to-Earth Things Powell Said about Cryptocurrencies

The Fed is perfectly content to have cryptocurrencies be the SEC’s problem.

Brexit Crash Out Virtually Certain

Brexit uglies are only getting uglier.

Argentina 20 Years On: Has the IMF Really Changed Its Ways?

The IMF is back in Argentina. The fund pretends that it’s moved away from borrower-punitive programs, but the evidence says otherwise.

America’s Subprime Economy

This so-called expansion is more and more brought to you by subprime borrowings.

Marshall Auerback: How Plan to Replace LIBOR Will Cement Fed’s Role as Global Central Banker

How proposals to replace LIBOR will strengthen the Fed’s position in global markets.

Trump’s Visit Marks the Start of Shock Doctrine Brexit

As Brexit approaches, the personal enrichment hopes of some of its proponents come into focus.

As the Yield Curve Flattens, Threatens to Invert, the Fed Discards it as Recession Indicator

This Fed is getting seriously hawkish: It revealed that instead of thinking about backing off rate hikes, it’s replacing the yield curve.