IMF Paper Finds That Too Much Finance is Bad for Growth
A new IMF paper strikes another blow against the idea that Big Finance is good for you.
Read more...Category Archives: Banking industry
Satyajit Das: The Power of Money
A new series of books on money gives an intriguing historical overview and winds up highlighting money as a implement of power relations.
Read more...Exit Strategy, Part One: ZIRP
Why exit from ZIRP has to precede exit from QE.
Read more...Bill Black: New Labour Leaders Want to Go Back to Blair’s Policies That Blew Up the UK
How Tony Blair sold deregulation, and why his bad prescription is so hard to kill.
Read more...Elizabeth Warren’s Trade Deal Fears Confirmed: Canada Uses NAFTA to Challenge Volcker Rule
Elizabeth Warren’s concerns about trade deals undermining financial regulations get an unexpected confirmation from Canada.
Read more...Greece Authorizes €750 Million Payment to IMF Despite Failing to Get Concession Sought [Updated]
Today, Greece blinked. But one unconfirmed report suggests the government got some eyewash.
Read more...Mr. Market Says Dodd-Frank Isn’t Working
One way to fix Dodd-Frank is to break up big financial firms.
Read more...Latest Award of Frederic Mishkin Iceland Prize for Intellectual Integrity: Former CBO Director Holtz-Eakin’s Garbage-In, Garbage Out Attack on Dodd Frank
As readers know all too well, there is so much obviously half-baked economic research that this site could turn itself over to shredding examples and only scratch the surface. But we have established the Frederick Mishkin Iceland Prize for Intellectual Integrity to highlight outstanding examples of economic shillery in which the attempt at analysis is obviously cooked so as to produce a pre-determined outcome.
Read more...Greece Says It Will Make IMF Payment Next Week As Stalemate Continues
Greece may succeed in avoiding a default next week, but it remains at loggerheads with its creditors.
Read more...Nomi Prins: The Clintons and Their Banker Friends
A good overview of the Clintons’ deep ties to Wall Street kingmaker Robert Rubin and other members of the Goldman mafia.
Read more...At INET Conference, Warren Adds Two Pieces to Her Financial Reform Framework
The reason I’m filling in today and tomorrow is that Yves is in Washington for the INET Finance and Society conference, which is unique because it features a dozen and a half speakers, every one of them a woman, from Fed Chair Janet Yellen to IMF Chair Christine Lagarde to the SEC’s Kara Stein to CFTC’s Sharon Bowen to Treasury’s Sarah Bloom Raskin to many more, from the U.S. and around the world. Anat Admati of Stanford University organized the event, and you can watch the webcast tomorrow at this link. Maybe you’ll spy Yves stalking the halls.
Read more...John Helmer: Ukraine Readies Itself for War When No One Wants to Pay for It
The IMF is finding it hard to put enough lipstick on the pig of financing Ukraine.
Read more...The “War on Cash” in 10 Spine-Chilling Quotes
The war on cash is escalating.
Read more...Bill Black: Obama & TPP – Every One That Doeth Evil Hateth the Light
President Obama wants the world to know that he takes it personally that the Democratic Party’s base opposes his latest effort to sell out the people of the world to the worst corporations through the infamous Trans-Pacific Partnership (TPP) deal.
Read more...Wolf Richter: The Greek People Just Destroyed Syriza’s Strategy
Greek stocks ventured deeper into purgatory. The ASE index dove below 700 intraday on Wednesday for the first time since the crisis days of June 2012. Then word spread that the ECB had raised the cap on the Emergency Liquidity Assistance for Greek banks by €1.5 billion to €75.5 billion. It’s the oxygen line for Greek banks. Without it, they’re toast.
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