A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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Posts Tagged ‘ Financial Institutions ’
Fed’s George: Board Members Should Resign if Undermining Confidence – WSJ
A Federal Reserve regional bank president on Thursday said board members should resign if they undermine public confidence in the central bank system. In the wake of recent criticism of J.P. Morgan Chase & Co. Chief Executive James Dimon‘s role on the New York Fed board, Federal Reserve Bank of Kansas City President Esther...
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JPMorgan: The bank that kicked the hornets’ nest – MSN Money
JPMorgan: The bank that kicked the hornets' nestMSN MoneyNow, just when the nation's financial institutions had largely adjusted to this brave new regulatory world, JPMorgan Chase's (JPM) $2 billion-and-counting trading loss has put the ...
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Learning from JPMorgan loss – Modesto Bee
Wall Street JournalLearning from JPMorgan lossModesto BeeBefore bank officials announced they had suffered a stunning trading loss of at least $2.3 billion, JPMorgan Chase was widely viewed as one of the better-managed, less reckless banks. When so man...
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Elizabeth Warren: ‘That’s the strongest argument for a modern Glass-Steagall’ – The Washington Post
Ezra Klein interviews Elizabeth Warren- who chaired Congressional oversight panel on TARP and who is now running for the Senate in Massachusetts. EK: I agree that complexity is where lobbyists and lawyers work their dark magic. But when I talk to people in the industry about this, they say that simple rules sound great,...
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Capital Controls Loom in Greece – CNBC
It looks increasingly likely that Greece will have to implement controls to prevent capital flight and a banking collapse. To my mind, the only real question is when this will occur. The widespread talk about Greece possibly leaving the euro zone is likely to trigger withdrawal of bank deposits and other financial assets, by...
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Lehman Bros. pay report brings calls for reform – Los Angeles Times
Los Angeles TimesLehman Bros. pay report brings calls for reformLos Angeles TimesLawmakers and others say disclosure at financial institutions should be beefed up after report that 50 Lehman employees were awarded nearly $700 million in the year before...
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Various Distorted, “Unintended” Consequences
“Inventories of manufactured durable goods in February, up twenty-six consecutive months, increased $1.6 billion or 0.4 percent to $373.7 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.6 percent January increase. Machinery, up twenty-three consecutive months, had the largest increase,...
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What If We’re Beyond Mere Policy Tweaks?
The nation's ills cannot be fixed by thousands of pages of regulation or more policy tweaks. Only a profound cultural transformation can address our problems.
The mainstream view uniting the entire political spectrum is that all our financial pr...
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Holder & Obama’s Propaganda is “Belied by a Troublesome Little Thing Called Facts”
By William K. BlackThe Obama administration’s record of prosecuting elite financial frauds is worse than the Bush administration’s record, which is a very large statement. Syracuse University’s TRAC issued a report on November 11, 2011 entitled �...
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Obama Bluffs on ReFi?
. &nbs...
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Largest Central Banks Now Hold Over 15 Trillion in Fictitious Capital
China’s imports from Japan fell 16.2pc in December. Imports from Taiwan fell 6.2pc. The strong yen strikes again: Honda decides to build a high-performance hybrid Acura in Ohio – instead of its home nation of Japan. The firm’s continued shift in production to North American capacity signals a wider trend of Japan’s automakers to battle currency-related losses...
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Wall Street Is Bracing for Dismal 4th Quarter
January 6, 2012, 9:03 pm
Wall Street Is Bracing for Dismal 4th Quarter
By SUSANNE CRAIG
Wall Street banks have been buffeted by the weak American economy and the European debt crisis.
For most Wall Street bankers, 2011 was a year they would rathe...
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Did Psychopaths Take Over Wall Street?
It took a relatively obscure former British academic to propagate a theory of the financial crisis that would confirm what many people suspected all along: The “corporate psychopaths” at the helm of our financial institutions are to blame.
Clive...
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A Run on the Global Banking System – How Close are We?
Nine weeks after its bankruptcy, the general public still hasn’t quite realized the implications of the MF Global scandal.
My own sense is, this is the first tremor of the earthquake that’s coming to the global financial system. And how the centr...
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A Thinly Veiled Bail
A Thinly Veiled Bail By Ilene at Phil's Stock World, with Lee Adler of the Wall Street Examiner (many thanks to Lee!) The ECB is borrowing U.S. Dollars from the Fed to bailout European banks. And that is in addition to the Long Term Refinancing Operation (LTRO). However, the "borrowing"...
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Our Financial "Regulators" Just Let Us Down Again
The Dodd-Frank Act became law 18 months ago, and it may be hard to believe, but we still aren't any better off now than we were then.
Indeed, the regulators that are supposed to be protecting us from a repeat of the 2008 financial crisis can't - or refuse -...
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Did the ECB Pull Off a Back-Door Bailout that’ll End the Crisis?
Yields on short-term peripheral sovereign bonds are plunging, despite the fact that EU leaders appeared to make little progress at their highly-anticipated summit last week.
Pundits continue to expound on the flaws of the eurozone but markets are tel...
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Moody’s Downgrades Top French Banks
December 9, 2011
Moody's Downgrades Top French Banks
By LIZ ALDERMAN
PARIS — In another sign of how Europe’s debt crisis is rippling through the banking system, Moody’s Investors Service on Friday downgraded the three largest banks in Fra...
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Scott Brown used swing vote to water down WallSt bank regulations
Globe link
Excerpts:
WASHINGTON — Campaign contributions to Senator Scott Brown from the financial industry spiked sharply during a critical three-week period last summer as the fate of the Wall Street regulatory overhaul hung in the balance.....
...
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Major Banks Face New Foreclosure Lawsuit
Major Banks Face New Foreclosure Lawsuit
By GRETCHEN MORGENSON
Citing extensive abuses of troubled borrowers across Massachusetts, the state’s attorney general sued the nation’s five largest mortgage lenders on Thursday, seeking relief for cons...
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It might not be an Asian century after all
And the United States might pull out of its present funk as it did in a sudden twice during the past century: in the first years of World War II, and during the first Ronald Reagan administration.
For the past two decades, the United States wasted th...
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Euro Crisis? What Crisis?
I don't know a hell of a lot about John Corzine. And what really is or was 'MF Global?'
But what I do know is that it is difficult for me to see anything like a 'crisis' in any of the current metrics surrounding the US Dollar, the euro, and the intere...
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Obama Taps Inflation Hawk Hoenig for the FDIC
Suprised That Obama Tapped Inflation Hawk Hoenig for the FDIC? Don't Be
By Daniel Indiviglio
Oct 21 2011, 12:29 PM ET
Although he's best known for his Fed dissents, he'll be tough on the big banks
Last year, those of us who cover the Federal Reser...
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Did big banks leave TARP too soon?
Did big banks leave TARP too soon?
By Jennifer Liberto
@CNNMoney September 30, 2011: 5:35 AM ET
Former FDIC Chair Sheila Bair pushed for the big banks to be held to tougher capital standards before they exited TARP.
WASHINGTON (CNNMoney) -- Regulato...
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The REAL reason the S&P downgrade is a disaster for the economy
There's already been a bevy of analysts coming out with their forecasts on what the S&P downgrade means for the economy, what it will do to interest rates, other financial institutions, junk borrowers, and other entities somehow connected to the US ...
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Quote of the Day…
"Of the 15 largest financial institutions in the United States before the crisis, only nine remain as independent entities. Those that survived did so because they were able to raise capital from private investors, significantly diluting existing share...
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