Category Archives: Banking industry

Greece and Creditors in Showdown Again

Greece tried a surprise move to slip the creditors’ leash. Sadly, it’s not likely to succeed.

Italy Gets a New Prime Minister, But Not Yet a New Government, Let Alone a New Banking System

Italy just may be able to save Monte dei Paschi with “precautionary recapitalization,” but what next?

Europe’s Crisis Was Caused More By Reckless Lending Than By Reckless Spending

Remedies have failed to produced growth and lower indebtedness because they’re focused on protecting toxic behavior by banks in Europe’s core

Wolf Richter: Italians Vote “No,” Renzi to Resign, Banking Crisis Now Looking for Taxpayers

Will the failure of Renzi’s constitutional referendum and resulting political uncertainty finally force Italy’s banking crisis to a head?

Can Trump Fire CFPB’s Cordray on Day One?

Republicans have been hostile to the CFPB since its inception. Will Trump fire Cordray quickly– relying on an October court ruling?

Trump Picks Ex-Goldman Banker, Steve Mnuchin, Known as ‘King of Foreclosures’ to Head Treasury

Why you should be worried about the prospect of Steve Mnuchin as Treasury Secretary.

Trumpism Has Dealt a Mortal Blow to Orthodox Economics and ‘Social Science’

Why Trumpism caused mainstream ‘social science’ to fall like a house of cards.

Banks Whinge About Tougher EU Regulations to Reduce Too Big to Fail Risk

The Financial Times is a bit too sympathetic to poor oppressed banks facing tougher EU safety rules.

Michael Hudson: How Debt-Driven Home Price Increases Shafted Homeowners

Michael Hudson debunks the myth that rising home prices are always a boon to homeowners.

Italy’s Bank Rescues Founder, With Small Savers and Prime Minister Renzi as Casualties

Italian banks may start bail-ins at the worst possible time for Matteo Renzi and his constitutional reforms.

The Retreat of Financial Globalization?

Financial globalization, meaning high levels of funds movement across borders, has fallen, and that’s a good thing.

Suspected 5th Columnist Streetwise Professor Knocks Blockchain… But Defends Elites

Why are self-styled progressive economists like the Streetwise Professor criticising Blockchain boosters but making excuses for our elites?

Panama Papers: The Role of Western Secrecy Jurisdictions in Looting Africa

Africa, despite having many of the poorest countries in the world, is nevertheless a capital exporter due to bank secrecy and tax gaming.

The Old Democrat Wall Street Plus Identity Politics Playbook is Dead

The Democrats need to reinvent themselves. Appeals to identity politics will not deliver enough votes.