Michael Hudson: Global Financialization – The State of Play in Ukraine and Russia
Michael Hudson gives a wide-ranging interview on the state of financial capital, with emphasis on fresh events in Ukraine and Russia.
Read more...Category Archives: Credit markets
G-7 Throws Greece Under the Bus
Some observers thought that Greece might get a break in the G-7 summit this weekend. While the G-7 has one more day to run, the statements coming out of the summit strongly and uniformly back the creditor position.
Read more...Syriza Commits to Deep Austerity in Its Proposal to Creditors
Greece has already offered to continue with a program of significant austerity. No wonder the creditors are close to agreeing to that part of the government’s proposal.
Read more...Ilargi: QE Breeds Instability
Why both Keynes and Minsky regarded low interest rates as poor policy.
Read more...Wolf Richter: Get Used to Selloffs, Central Bankers Say as They Fret about the Terrifying Moment When Liquidity Evaporates
Investors act as if they have a right to liquidity. The authorities are trying to get them used to the new normal of higher spreads and risks.
Read more...Tsipras Fighting Two Front War as Revolt Within Syriza Intensifies, Forcing IMF Payment Delay, Cancellation of Negotiating Session
As Tsipras’ options narrow thanks to the revolt in his party, it is also becoming harder for even Merkel to forestall a default.
Read more...Memo to Readers: If You Want to Beat Big Finance, You Need to Be Able to Take the Fight to Their Terrain
We are now 35 years into a finance-led counterrevolution. If you care about income inequality, student loan debt slavery, foreclosure abuses, and other products of the success of this effort, it behooves you, as Sun Tzu urged, to understand your enemy.
Read more...Perry Mehrling: Volcker Alliance Describes How Regulatory Silos, and Also Intellectual Silos, Hold Back Financial Reform
A report by the Volcker Alliance on financial reform is readable and meaty, and curiously dropped from media sight.
Read more...Greece: An Endgame Finally in Sight?
The noose continues to tighten on Greece.
Read more...Dick Fuld Continues to Exhibit Advanced Case of Wall Street CEO Derangement Syndrome
It appears that having the financial crisis analogue to the captain of the Titanic carry on in the stereotypical super-entitled Wall Street CEO manner was too much for the tender sensibilities of CNBC.
Read more...Perry Mehrling: Derivatives Remain a Blind Spot in the TBTF Debate
Current proposals to deal with the too big to fail problem fall way short as far as disarming derivatives risk is concerned.
Read more...SEC Vindicates Deutsche Bank Derivatives Whistleblowers Eric Ben-Artzi and Matthew Simpson
Three SEC whistleblowers have been proven right in charging Deutsche Bank with misreporting its biggest derivatives risk,. the bank, predictably, looks to have gotten off easy.
Read more...Thomas Palley: Fraternity of Failure – The Alternative, as in Hillary Clinton, Version
Hillary Clinton does not want to talk about past economic controversies.
Read more...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...Greece Cornered as IMF and ECB Refuse to Relent
A flurry of stories this weekend confirms that Greece and its creditors remain hopelessly at odds. The inertial path is to a Greek default
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