How Much International Tax Evasion is There?
More experts are working up estimates of the magnitude of cross-border tax evasion, and the amounts involved are considerable.
Read more...Category Archives: Banking industry
Former Citi Vice Chairman Robert Rubin, Target of DoJ Investigation, is Too Big to Jail
The Financial Crisis Inquiry Commission released a raft of documents from its 2010 investigation, including interviews with senior government officials like Alan Greenspan, Hank Paulson, and Sheila Bair, as well as other individuals deemed to be prominent like Warren Buffett and subprime short-seller Steve Eisman. It’s hard to see the justification for keeping information from […]
Read more...Louis Proyect: Boom Bust Boom
Boom Bust Boom a wickedly funny but mind-expanding analysis of 2008 crisis driven by the proposition that the capitalist system is inherently unstable.
Read more...Brexit Endangers London’s Status as a Financial Hub
Brexit could damage London’s attractiveness as the centre of European banking, as an entry point to the EU and as a global financial hub.
Read more...HSBC’s Money Laundering Nightmare (2): Mossack Fonseca, a Year in Words and Pictures, March 2015-March 2016
Mossack Fonseca and its trail of street protests: they are in it up to their thighs, and HSBC’s Stuart Gulliver has “no idea”.
Read more...Flint’s Water Crisis: A Chronicle of Disenfranchisement, Denial, and Buck-Passing
A must-see documentary on Flint’s water crisis.
Read more...Wolf Richter: Bavarian Banks Hoard Cash in Revolt Against ECB Negative Interest Rates
Little Bavarian banks take a bit shot at the ECB.
Read more...Hoisted From Comments: Banks Supporting the War on Cash
Banner Bank in the state of Washington closed a reader’s account because he made too many cash withdrawals. An overly conservative implementation of “Know Your Customer” rules or a sign of things to come?
Read more...Offshore Ireland Implicated in Bank Collapse, Once Again
More on how Ireland’s banks walked on the wild side, to the detriment of its citizens.
Read more...Negative Rates, Negative Reactions
A new survey suggests that negative rates will be counterproductive. Consumers will not spend more, as central banks wish, but will hoard.
Read more...Germany Lays the Foundations for a New Eurozone Debt/Banking Crisis
It’s astonishing to see Germany take active steps to wreck the Eurozone.
Read more...China’s Vulnerable External Balance Sheet
A look at the risks of China’s external debt.
Read more...The New Shadow Banks: Private Equity Becomes Private Credit
Private equity funds have launched a host of private credit fund to let them borrow more than banks are allowed to provide. What could go wrong?
Read more...The UK’s Money Laundering Mess (III): LLPs, Secrecy Jurisdictions, PSCs, and a Forthcoming Fiasco
Why the UK’s latest anti money laundering measures don’t look very convincing
Read more...Michael Hudson Discusses the Federal Reserve and the Global Fracture
Explaining how the Federal Reserve and central bank policies like QE, saved the banks at the expense of wrecking the real economy.
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