Category Archives: Banking industry

Paul Craig Roberts on Michael Hudson’s Killing the Host

An introduction to Michael Hudson and his latest book.

CalPERS Takes on Risk Where Federal Government Fears to Tread: Provides Liquidity to a Derivatives Central Counterparty on the Cheap

CalPERS has engaged in one of the most bone-headed moves ever, the financial equivalent of picking up pennies before a steamroller.

Bill Black: How Many Lies Can the WSJ Pack into a Chart on Liar’s Loans?

Bill Black is not happy about the revisionist history on liar’s loans. And separately, this piece is a useful exercise in the critical reading of narratives.

New York Times’ Bank-Boosting, Neoliberal-Excusing Story of the Global Debt Hangover

A new story at the New York Times on the global debt overhang is an economically warped account that omits important policy options.

Bill Black: Lenders’ Lies about Liar’s Loans and “Rigorous Underwriting”

Believe it or not, liar’s loans may be back.

Clinton Campaign Goes on Tilt as a Result of Dead Heat With Sanders in Iowa

The Clinton campaign is on the back foot. And it is a spectacle to behold.

Why the Neoclassical Story About German Wage “Moderation” Causing the Eurozone Crisis is Wrong

Focusing on German wage “moderation,” as in restriction, leads to a neat, plausible, and wrong tale of what caused the Eurozone crisis.

Central Counterparties: The New Locus of Systemic Risk?

Central counterparties, also known as central clearinghouses, were supposed to reduce systemic risk. That story is not playing out according to its script.

Money and Banking: How the Fed Controlled Interest Rates Before and After the Crisis

How does the Fed control interest rates? A primer.

The Bank Whistleblowers United – Who are We, and Why are We Trying to Help Implement Real Banking Reform?

The stories of the four whistleblowers who came together to push for bank accountability in the next Administration.

Gaius Publius: A Non-Neoliberal Woman President Is Not One of the Choices

Hillary as a neoliberal is not your friend….unless you are a member of the 1% or on their meal ticket.

Another Hillary Falsehood: She Didn’t Tell Banks to “Cut it Out” Pre Crisis; She Blamed Homeowners

Hillary Clinton’s nose is getting so long that she needs to get a hacksaw.

Bill Black: Announcing the Bank Whistleblowers’ Group’s Initial Proposals

Bill Black is spearheading an important initiative by bank whistleblowers to combat fraud and other abuses by banks.

How Central Banks (and Even Keynes) Misled the Public About Banking and Money

How and why central bankers and conservative economists created the bogus “fractional reserve” and “debt intermediation” theories of banking.

Krugman’s Cowardly, Dishonest Attack on David Dayen Over Krugman’s Misrepresentation of Sanders’ Financial Reforms

Paul Krugman’s recent posts have been most peculiar. Several have looked uncomfortably like special pleading for political figures he likes, notably Hillary Clinton.