Double Whammy: Implicit Subsidies and the Great Financial Crisis
Follow the subsidies, and you will understand why we had the crisis and why not enough has been done to prevent a recurrence.
Read more...Category Archives: Derivatives
Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
The chief architects of the exercise in looting otherwise known as the post-crisis rescues are back promoting more of the same.
Read more...The Michael Hudson Report: The “Next” Financial Crisis and Public Banking as the Response
Michael Hudson explains how we’re still in the crisis that started in 2007-2008.
Read more...Bill Black: Mankiw Whiffs on “Learning the Right Lessons from the Financial Crisis”
Bill Black debunks a book that tries to relitigate the crisis by denying that Lehman was insolvent.
Read more...Brexit Crash Out Virtually Certain
Brexit uglies are only getting uglier.
Read more...Treasury Proposes Dubious, Untested Chapter 14 Bankruptcies for Too Big to Fail Banks
Treasury released an ideologically-driven proposal to change Dodd Frank’s resolution authority.
Read more...Financial Markets Have Taken Over the Economy. To Prevent Another Crisis, They Must Be Brought to Heel.
A detailed and well-argued explanation of how the growth in the role of financial markets has become destructive.
Read more...SEC Stymies Plans to Offer Bitcoin Funds Anytime Soon
SEC staff letter raises detailed concerns about offering products based on bitcoin or other cryptocurrencies to retail investors.
Read more...The Bitcoin Bubble
As bitcoin has become a mania, it is also becoming a risk to the real economy.
Read more...New Potential Credit Risk Bombs: Exotic, ‘Nonlinear’ and Private Transactions
Beware of old CDO risk re-imaged as “nonlinear finance”.
Read more...Can EU Actors Keep Using Common Law After Brexit?
The widespread use of English law in financial contracts poses yet another set of tricky post-Brexit issues.
Read more...Trump, Republicans Make Bogus Case for Bank Deregulation as Senate Certain to Curtail House Dodd Frank “Reform”
Trump and the Republicans are moving forward with deregulation plans that serve big bank bottom lines, not the broader economy.
Read more...British Press Hissy Fit Over Predictable EU Move to Relocate Euro-Clearing to the Continent
The UK press reacts with unwarranted indignation to an EU move that was sure to happen.
Read more...Big US Banks Make Laughable Excuses for Preserving Failed Universal Bank Model
Count on the banks to keep trotting out tired excuses for their too-big-to-faill ways.
Read more...Ending Too Big to Fail
Yves here. Remember the explosion of press coverage last year when incoming Minneapolis Fed member and former Goldmanite and Treasury official Neel Kashkari announced his intent to develop a plan to end the “too big to fail” problem. He not only was going to devote Minneapolis Fed researchers to his program, but solicited broad based […]
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