Category Archives: Banking industry

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”.

Wolf Richter: Bavarian Banks Hoard Cash in Revolt Against ECB Negative Interest Rates

Little Bavarian banks take a bit shot at the ECB.

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?

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.

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.

Germany Lays the Foundations for a New Eurozone Debt/Banking Crisis

It’s astonishing to see Germany take active steps to wreck the Eurozone.

China’s Vulnerable External Balance Sheet

A look at the risks of China’s external debt.

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?

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

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.

Hard Times for Italian Banks

The overview: “They argue that rather than spending time revising rules that have already been agreed, alternatives should be considered to make the guarantee schemes as effective as possible.” Translation: “Time to go back to the drawing board.”

Anyone Want to Buy Deutsche Bank?

Some more reasons why Deutsche Bank looks like one to avoid

Wolf Richter: Sudden Death? Junk-Rated Companies Headed for Biggest “Refinancing Cliff” Ever – Moody’s

A refinancing bulge is coming awfully soon.

Randy Wray: American Colonial Currency (Debt Free Money, Part 4)

The American Colonial experience with note issue is consistent with what MMT has been saying for the past quarter century.