Clinton can offer nothing meaningful to Sanders and his supporters, and therefore Sanders has no reason to capitulate. Not hard to understand unless you are committed to not understanding that.
Read more...Financial crises move the struggles between debtors and creditors into the political sphere.
Read more...A list of Congressional Democrats on the Wall Street meal ticket.
Read more...North Carolina’s House has voted to exit a toll road deal despite high expected cancellation costs.
Read more...Australia and other countries had the opportunity to reduce financial fragility. They may soon discover the cost of doing too little.
Read more...HR 5424, intended to make life even easier for potential securities law abusers, got considerable support from Democrats on the Financial Services Committee.
Read more...Student debt isn’t just a millstone around young people’s necks; it’s weighing down the economy.
Read more...Lender demands in China as a sign of credit stress.
Read more...Elizabeth Warren and Mary Jo White cross swords again…but how effective can Warren be after she hitches her star to Clinton?
Read more...Price deflation, and classic debt deflation dynamics, are staring to appear in India and China.
Read more...Bagehot outlined some of the requirements for global money. Are we closer to a solution?
Read more...Spain demonstrates some of the costs and dislocations created by negative interest rate policies.
Read more...Sadly, mortgage servicers are still very much in the document fabrication and forgery business.
Read more...The threat to the financial system posed by cyber risk is often claimed to be systemic. This column argues against this, pointing out that almost all cyber risk is microprudential. For a cyber attack to lead to a systemic crisis, it would need to be timed impeccably to coincide with other non-cyber events that undermine confidence in the financial system and the authorities. The only actors with enough resources to affect such an event are large sovereign states, and they could likely create the required uncertainty through simpler, financial means.
Read more...Investors got a big dose of bad news about the economy and geopolitics and reacted accordingly.
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