Banks Rebel Against Negative Interest Rates
Banks have had it with negative interest rates and are starting to push back.
Read more...Category Archives: Banking industry
Can Philosophy Stop Bankers From Stealing?
How can bankers be persuaded or coerced into behaving better?
Read more...New Zealand: Icon Sachs (Whatever That is), Fennas Finance, a Bank Account at an ANZ Napier Branch, a Conspiracy Theorist And a Ponzi Scheme
Yet more strange sightings in the New Zealand Register of Companies
Read more...Steve Keen: Zombie-to-Be Economies and the Walking Dead of Debt Include China, South Korea, Canada, Finland
Steve Keen’s macroeconomic model allows him to identify zombies-in-the-making. It’s not pretty.
Read more...How Bank Networks Amplify Financial Crises: Evidence from the Great Depression
The Global Crisis emphasized the fragility of international financial networks. Despite this, there has been little historical research into how networks propagate financial shocks. This column explores how interbank networks transmitted liquidity shocks through the US banking system during the Great Depression. During banking panics, the pyramided-structure of reserves forced troubled banks to reduce lending, thus amplifying the decline in investment spending.
Read more...Wall Street Journal Tallies DoJ and SEC’s Pathetic Record in Tackling Wall Street Crime
The officialdom continues to defend the half-hearted effort by the DoJ and SEC to pursue financial services industry misconduct.
Read more...New Zealand: the World’s Tiniest Stock Exchange, ‘a Big Ponzi Scheme’, and Other Crazy Tales From John Key’s Financial Services Hub
New Zealand’s Offshore Financial Services Providers: a new sampling of strange creatures
Read more...IMF Not Funding July Greece Deal, Still Wants Serious Debt Relief Before Committing New Dough
The IMF has not given up on debt relief for Greece, but due to the upcoming Brexit vote, is holding off on the fight until fall.
Read more...Unsealed Documents Reveal Former White House Officials Violated Fannie/Freddie Conservatorship Rules, Apparently to Advance Bank-Enriching “Reforms”
The Administration has refused to turn over over 12,000 documents in a lawsuit against how the government operated Fannie and Freddie in their conservatorship. The major bone of contention is that Treasury stripped them of all profits, which damaged the remaining private shareholders. But the unsealing of a small batch of government records shows why […]
Read more...Helicopter Money: The Illusion of a Free Lunch
Does helicopter money come with a hidden price tag?
Read more...Neoliberalism’s Press Gangs: How Markets Raise Costs
Neliberalim’s press gangs – forcing citizens to participate in capitalism when even it produces worse outcomes than public ownership would.
Read more...Welcome to the Great Australian Scab Grab
Australia is in the grip of the greatest economic scab grab of my lifetime
Read more...The New Abnormal: “Disequilibrium Flirting with Deflationary Depression”
The New Abnormal: a period of profound disequilibrium as the aftershocks of the Crisis collide with and complicate structural changes.
Read more...Sanders and Class Struggle in the Democratic Party
Sanders versus Democratic Party’s institutionalized corruption and domination by billionaires.
Read more...Wolf Richter: Business Loan Delinquencies Spike to Lehman Moment Level
While consumer credit card and mortgage delinquencies are tame, business loan delinquencies have taken a big turn for the worse.
Read more...