Credit Writedowns » regulation

The Problem with Success

Marc Chandler — Mon, 06 Feb 2012 15:00:00 +0000

Cash accounts for almost 6% of all corporate assets and the highest in sixty years. This increase is a result of a number of factors. Record profits give businesses the wherewithal. But corporations are not rewarded for the cash holdings. Moreover, the cash is held in such instruments as money market funds, commercial paper and bank deposits

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
The Problem with Success originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

What is the secret to Germany’s economic success, part 2? 16 Aug 2011
Despite the propaganda machine’s attempts to label TARP a success, it was not 15 Sep 2010
Europe’s Bank Problem 6 Oct 2011

John Reed on Big Banks and Corporatism

Edward Harrison — Thu, 02 Feb 2012 04:00:28 +0000

Bill Moyers talks to former Citicorp and Citigroup head John Reed about what's wrong in the banking sector. John Reed readily acknowledges his role in bringing down the Glass-Steagall Act (Hat tip finance Addict)

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
John Reed on Big Banks and Corporatism originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

A brief note on Corporatism 10 Mar 2011
Corporatism and the Boston Tea Party 8 Apr 2011
The Revolving Door of Corporatism Continues 16 Mar 2011

Banking Wasn’t Meant to Be Like This

Michael Hudson — Mon, 30 Jan 2012 02:00:36 +0000

the banks now browbeat governments – not by having ready cash but by threatening to go bust and drag the economy down with them if they are not given control of public tax policy, spending and planning. The process has gone furthest in the United States. Joseph Stiglitz characterizes the Obama administration’s vast transfer of money and pubic debt to the banks as a “privatizing of gains and the socializing of losses. It is a ‘partnership’ in which one partner robs the other.” Prof. Bill Black describes banks as becoming criminogenic and innovating “control fraud.” High finance has corrupted regulatory agencies, falsified account-keeping by “mark to model” trickery, and financed the campaigns of its supporters to disable public oversight. The effect is to leave banks in control of how the economy’s allocates its credit and resources

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Banking Wasn’t Meant to Be Like This originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

The EU driving changes in European banking 2 Nov 2009
The Eurozone and the spectre of banking collapse 19 Jan 2009
More on the self-regulatory banking saga, SEC version 13 Jan 2012

AT&T raising charges by 33%

Edward Harrison — Thu, 19 Jan 2012 13:13:06 +0000

This is not an opinion on AT&T stock since AT&T benefits from a monopoly status in fixed line and oligopoly status in mobile telecom. But I did want to briefly flag something regarding the telecom industry and M&

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
AT&T raising charges by 33% originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

SEC charges BofA of lying to investors over Merrill but settles 3 Aug 2009

More on the self-regulatory banking saga, SEC version

Guest Author — Fri, 13 Jan 2012 20:00:00 +0000

Is there any government body having a harder time of it these days than the SEC? Sometimes it feels like someone pinned a giant “Kick me” sign to its collective back. I’ve written previously about a key factor that I think is partly responsible for its general toothlessness. But this simply can’t be the excuse for all of its failings

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
More on the self-regulatory banking saga, SEC version originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Regulatory handicapping: the CFTC edition 16 Nov 2011
Sheila Bair on European Regulatory Capture 2 Nov 2011
Why we need regulatory cops on the beat – and why they make bankers cringe 21 Mar 2011

Waiting for Bank of America’s bankruptcy or break up

Edward Harrison — Fri, 13 Jan 2012 14:30:43 +0000

Read between the lines. Bank of America is on government life support. As a result, it is being forced to shed assets and cut staff in the hope that this will be enough to prevent its having to be bailed out or resolved. Moreover, a shrunken BofA will be easier to deal with when that moment does arrive

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Waiting for Bank of America’s bankruptcy or break up originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Bank bankruptcy or bailout? 1 Apr 2008
Last bankruptcy tonight: America West Bank 1 May 2009
Bankruptcy expert says ‘not at all’ possible for quick Chrysler bankruptcy 30 Apr 2009

The continuing saga of bank self-regulation and other fairy tales featuring Alan Greenspan

William Black — Thu, 12 Jan 2012 13:15:46 +0000

We continue to witness remarkable developments in the intersection of the related fields of economics, finance, ethics, law, and regulation. Each of these five fields ignores a sixth related field – white-collar criminology. The six fields share a renewed interest in trust

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
The continuing saga of bank self-regulation and other fairy tales featuring Alan Greenspan originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts No related posts.

Real Financial Regulators Love Prosecutions of Fraudulent Bank CEOs

William Black — Wed, 11 Jan 2012 14:00:57 +0000

Senior former regulators are willing to be quoted by name asserting that Obama’s (not Bush’s) financial regulatory leaders are blocking lawsuits against fraudulent financial elites and their anti-regulatory co-conspirators because they fear embarrassment

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Real Financial Regulators Love Prosecutions of Fraudulent Bank CEOs originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

AmTrust Bank seized by regulators after asset stripping 4 Dec 2009
Countrywide is the real problem at Bank of America 16 Jan 2009
Bove: Bank stocks will soar during QE’s “financial war with China” 8 Nov 2010

A real mission impossible

Guest Author — Wed, 04 Jan 2012 21:00:08 +0000

When I worked in banking not so long ago, it was actually cool to be “old school”. It was just another way of saying that one would try to balance the bank’s interests with that of the corporate client’s. To make neither too little money off of them, nor too much. And to never, ever, ever give them the impression that the high fees they were paying would be used to pay for something like your next Ferrari

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
A real mission impossible originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts No related posts.

Bernanke’s 29 Trillion Dollar Fog of Deceit

Randall Wray — Tue, 13 Dec 2011 19:00:33 +0000

Congress should immediately call Chairman Bernanke in for testimony on the veracity of the Fed’s response to the Bloomberg report. It should demand a comprehensive accounting for all the Fed’s commitments, by institution that benefitted. Bernanke should explain what the Fed did, when it did it, why it did it, and in whose interests it has been operating since the GFC began. No more obfuscation. No more secrecy. No more fog of deceit

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Bernanke’s 29 Trillion Dollar Fog of Deceit originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

William K. Black on MF Global

Edward Harrison — Fri, 09 Dec 2011 04:35:44 +0000

Bill Black was on Capital Account talking to Lauren Lyster about MF Global. As usual, Capital Account delves deep into the real issues. Black never disappoints. Video below

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
William K. Black on MF Global originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Bill Black: To rob a country, own a bank 30 Mar 2010
Bill Black: Hijacking protests for political gain 18 Oct 2011
Black: Stress tests and the Big Lie 9 May 2009

Debt and Democracy: Has the Link been Broken?

Michael Hudson — Tue, 06 Dec 2011 13:00:00 +0000

Debt and Democracy: Has the Link been Broken

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Debt and Democracy: Has the Link been Broken? originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

EU: Democracy Incompatible with Debt Collection 3 Nov 2011
The origin of the U.S. dollar as legal tender and its link to Depression 22 Sep 2009
Bank Index trendline broken to the downside 7 Jun 2011

News Links: Ten days of secret planning to rescue markets

Edward Harrison — Sat, 03 Dec 2011 18:15:24 +0000

News links for 3 December

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
News Links: Ten days of secret planning to rescue markets originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

News Links: Europe’s rescue fiasco leaves Italy defenceless 7 Nov 2011
Markets anticipate a euro zone solution within days 29 Nov 2011
Too big to rescue 15 Feb 2009

Warren Mosler’s Big Fat Greek MMT Exit Strategy

Randall Wray — Thu, 17 Nov 2011 16:26:20 +0000

It is beginning to look like a Greek exit is ever more likely, which means that the end of the EMU could be near. Even if exits and a break-up are not inevitable, countries should have a plan on the shelf. It is clear that Germany is going to insist on the maximum austerity it can squeeze from nations facing a run on their debt. Hence, if nothing else, an exit strategy is required for negotiations. The best strategy would be for all the so-called PIIGS to band together with a believable threat to exit together. That could finally break the logjam. I’m not optimistic about that. In any event, it is time to examine proposals for dissolution. Warren Mosler has formulated what looks like a nice, clean exit strategy that EMU members can adopt. I am reprinting here with his permission

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Warren Mosler’s Big Fat Greek MMT Exit Strategy originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

The Fed’s exit strategy 30 Dec 2009
Bernanke outlines Fed’s easy money exit strategy 21 Jul 2009
Issing: Greek 50% haircut, euro zone exit; euro bond fans ‘gravediggers of stable euro’ 28 Sep 2011

Regulatory handicapping: the CFTC edition

Guest Author — Wed, 16 Nov 2011 17:15:00 +0000

And just two days after I reported on the starve-the-beast strategy that’s forcing the SEC to pursue Mickey-Mouse settlements with the big banks, we learn of plans to handicap the Commodities and Futures Trading Commission in a similar fashion

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Regulatory handicapping: the CFTC edition originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Handicapping European End Game Scenarios 17 Dec 2010
Sheila Bair on European Regulatory Capture 2 Nov 2011
Why we need regulatory cops on the beat – and why they make bankers cringe 21 Mar 2011

Regulators encouraging banks to game risk models

Guest Author — Tue, 15 Nov 2011 17:30:00 +0000

Andrew Haldane, in my opinion, generally has the right idea about banks and their risks, which are risks not just “to themselves” but to all of society and the global economy. Yet here Haldane’s endorsing the sort of sleight of hand that banks are all too ready to perform with no encouragement. Not a good sign

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Regulators encouraging banks to game risk models originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Hard evidence: bailed out banks take more risk 9 Nov 2011
Community banks risk averse ahead of Obama meeting 23 Dec 2009
Why is Goldman allowed to game the system? 5 Oct 2009

Meeting Bank Capital Requirements in Europe

Marc Chandler — Tue, 15 Nov 2011 16:30:14 +0000

There are a number of ways that European banks are moving to boost their Tier 1 capital and strengthen their balance sheets. Some are cutting dividends, diluting current share holders through new rights issues, laying off staff, and selling off assets

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Meeting Bank Capital Requirements in Europe originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Basel III To Tighten Capital Requirements – Eventually 12 Sep 2010
Europe’s Bank Problem 6 Oct 2011
GE Capital is a bank, but Genworth will be too 17 Nov 2008

In defense of the SEC — no, really

Guest Author — Mon, 14 Nov 2011 18:15:00 +0000

The Finance Addict writes : "We need to put our cynic hats on and start questioning why it is that the SEC isn’t getting any. My guess–it’s no accident."

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
In defense of the SEC — no, really originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Regulation in Defense of Capitalism 18 Sep 2009
The housing bubble: In Bernanke’s defense? 9 Jan 2010

Hard evidence: bailed out banks take more risk

Guest Author — Wed, 09 Nov 2011 15:00:00 +0000

Politicians, Treasury Secretaries, etc. would have you believe that “moral hazard” is something we should only worry about in the abstract, in the future, when they’ve moved on to another job. But now a study confirms with hard facts: moral hazard–it lives. Researchers have asked for some time whether and how bailouts might affect banks’ risk-taking. Would they run wild, aware of the high likelihood of being bailed out again if they ran into trouble? Or would they ease off precisely because they’d now be assured of lower financing costs and long-term survival, and therefore would want to avoid doing anything that might cause regulators to take that valuable banking license away? More daring or more discipline

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Hard evidence: bailed out banks take more risk originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Barron’s: Do the bailed-out banks owe a debt to society? 19 Dec 2009
Community banks risk averse ahead of Obama meeting 23 Dec 2009
Will Ireland Be Bailed Out? 16 Nov 2010

The World’s 29 Too Big To Fail Banks

Edward Harrison — Tue, 08 Nov 2011 19:00:14 +0000

Here is the list of so-called global systemically important financial institutions by country. Who’s missing in your view

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
The World’s 29 Too Big To Fail Banks originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

UK: Darling confirms government to break up too big to fail banks 1 Nov 2009
Zombie banks Scandinavian edition and the threat of too big to fail 31 Aug 2009
The FDIC to get credit from banks even while banks restrict lending 22 Sep 2009

Sheila Bair on European Regulatory Capture

Edward Harrison — Wed, 02 Nov 2011 17:45:36 +0000

Sheila Bair argues that Europe's banks are undercapitalised due in large part to regulatory capture

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Sheila Bair on European Regulatory Capture originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Cognitive Regulatory Capture 10 Feb 2009
Sheila Bair talking to Bloomberg’s Al Hunt 16 May 2009
Sheila Bair and the case against a super-regulator 3 Sep 2009

How government is to blame for global financial crisis

Edward Harrison — Sun, 30 Oct 2011 14:42:00 +0000

"There are unintended consequences of free markets. It’s not capitalism that has been the problem, but irresponsible governments and politicians who have allowed the financial system to explode by permitting the build-up of ludicrous amounts of debt and leverage. "No one ever said that free markets could or would be self-regulating. That’s where people over

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
How government is to blame for global financial crisis originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Bankrupt global financial institutions 9 Jul 2008
Ten lessons from financial crisis investors will soon forget 12 Nov 2009
Frontline – The Warning: Who Knew About the Looming Financial Crisis? 20 Oct 2009

Deleveraging, Banks and Economic Recovery in Ireland

Guest Author — Fri, 28 Oct 2011 15:15:48 +0000

The challenge that the Irish economy faces can best be described in the context of flows and stocks of assets and liabilities. Under the Memorandum of Understanding (MoU) with the IMF/EU/ECB Troika, Ireland must implement a severe fiscal austerity programme and reduce the size of its banking system. These goals must be achieved in the context of a deleveraging process in the household sector brought about by the need to repair balance sheets following a collapse in the value of housing assets. The current policy mix, which aims to reduce these stocks simultaneously, is unlikely to be successful, a feature we term the domestic trilemma. An external trilemma arising from the constraints of EMU membership also limits the policy choices for high-debt economies attempting to engineer an export-led recovery. This paper argues that a sequencing of policies is required for Ireland to achieve its goals

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Deleveraging, Banks and Economic Recovery in Ireland originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Ireland guarantees bank deposits at six banks 30 Sep 2008
The Age of Deleveraging 19 Dec 2009
What is deleveraging? 19 Apr 2011

On government, regulation, over-regulation and free markets

Edward Harrison — Thu, 20 Oct 2011 14:00:45 +0000

I want to talk about why people blame government for the state of the economy more than Wall Street and what I think the remedies are. This will be a long post. So feel free to bookmark it to read it and the links when you have a moment

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
On government, regulation, over-regulation and free markets originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Bill Gross: Government intervention in markets will last 4 May 2009
On self-regulation in banking 21 Dec 2010
The FSA signals a need for regulation-heavy 12 Mar 2009

Bank of America’s Death Rattle: Not with a Bang, but a Whimper

William Black — Wed, 19 Oct 2011 17:45:51 +0000

Bob Ivry, Hugh Son and Christine Harper have written an article that needs to be read by everyone interested in the financial crisis. The article (available here) is entitled: BofA Said to Split Regulators Over Moving Merrill Derivatives to Bank Unit. The thrust of their story is that Bank of America’s holding company, BAC, has directed the transfer of a large number of troubled financial derivatives from its Merrill Lynch subsidiary to the federally insured bank Bank of America (BofA). The story reports that the Federal Reserve supported the transfer and the Federal Deposit Insurance Corporation (FDIC) opposed it. Yves Smith of Naked Capitalism has written an appropriately blistering attack on this outrageous action, which puts the public at substantially increased risk of loss. I write to add some context, point out additional areas of inappropriate actions, and add a regulatory perspective gained from dealing with analogous efforts by holding companies to foist dangerous affiliate transactions on insured depositories. I’ll begin by adding some historical context to explain how B of A got into this maze of affiliate conflicts

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Bank of America’s Death Rattle: Not with a Bang, but a Whimper originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Greek death spiral hits bank credit ratings. What should the EU do? 23 Feb 2010
Bank by bank breakdown of stress test results 7 May 2009
Bank Fraud 101: How to Rob A Bank 17 Mar 2010

Europe’s Bank Problem

Global Macro Monitor — Thu, 06 Oct 2011 20:52:23 +0000

Another informative chart from the IMF showing the fundamental problem in Europe’s banking system - excessive leverage and dependence on wholesale funding. Add to that overexposure to highly indebted sovereigns with deteriorating credit fundamentals. It also illustrates why the German DAX and French CAC stock indices have been hammered over the summer and are two of the worst performing markets this year

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Europe’s Bank Problem originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Countrywide is the real problem at Bank of America 16 Jan 2009
The Roskilde Bank problem 26 Aug 2008
Bank by bank breakdown of stress test results 7 May 2009

Why Nobody Went to Jail During the Credit Crisis

William Black — Mon, 19 Sep 2011 21:50:59 +0000

The following is a transcript of an interview with Financial Sense Newshour, a free financial/market broadcast hosted by money manager Jim Puplava on the week's market action, interviews with financial experts, and Jim's personal perspective on the markets/economy

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Why Nobody Went to Jail During the Credit Crisis originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

How credit crisis revealed weakness in US approach to epidemic of fraud 26 Jul 2011
“Not a single financial executive has gone to jail, and that’s wrong” 28 Feb 2011
The year in review at Credit Writedowns: Crisis Solutions 28 Dec 2009

The European Bank Bailout

Edward Harrison — Fri, 16 Sep 2011 12:45:21 +0000

Central banks are taking on quasi-fiscal roles because the fiscal agent is lacking as in Europe or is unwilling to take bold steps toward a permanent solution to a systemic problem. What we need is ring fencing of core deposit-taking activities, much greater capital ratios and more diligent oversight. Until we get cracking on these issues, crises will continue to plague the financial system. And that means massive central bank liquidity at subsidised rates and bailouts

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
The European Bank Bailout originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Chart of the Day: European bank funding starting to dry up 2 Sep 2011
Bank bankruptcy or bailout? 1 Apr 2008
Tom Ferguson: “This is really a backdoor bank bailout” 14 Jul 2011

Light at the End of the Tunnel?

Claus Vistesen — Sun, 04 Sep 2011 20:46:14 +0000

Globally, coincident data is already slowing visibly across the globe with headline PMI readings and trade data coming in steadily lower. In that sense we are up against the wall again only so shortly after the shock of 2008/09 and this time, the ability of policy makers to respond is limited. However, I would be wary of calling this another 2008. One of the effects of experiencing a balance sheet recession with subsequent deleveraging is that trend growth falls and thus that the economy becomes liable to more frequent recessions

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Light at the End of the Tunnel? originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

US Downgrade Shines A Light On Other Weak AAA Credits 8 Aug 2011
Win Thin: Bernanke is giving a green light to the risk-on trade 29 Apr 2011

How credit crisis revealed weakness in US approach to epidemic of fraud

William Black — Tue, 26 Jul 2011 15:25:34 +0000

This column addresses the high price paid by the President’s Council of Economic Advisors’ failure to read Akerlof & Romer

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
How credit crisis revealed weakness in US approach to epidemic of fraud originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Bank Holiday is Best Solution for Epidemic of Mortgage Fraud 15 Oct 2010
Davidowitz: Credit Crisis ‘A Gigantic Ponzi Scheme, Lies And Fraud’ 1 Jul 2010
Janet Tavakoli on the Foreclosure Crisis and Systemic Fraud Issues 14 Nov 2010

Soros getting out of the game

Edward Harrison — Tue, 26 Jul 2011 12:49:10 +0000

Apparently, there was a reason that Soros was 75% in cash. He is getting out of the hedge fund business altogether, liquidating assets and returning the funds to investors

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Soros getting out of the game originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Why is Goldman allowed to game the system? 5 Oct 2009
Soros: ‘Markets have moods’ 1 Jul 2009
Why is George Soros buying gold if it’s in a bubble? 1 Mar 2010

Save the Bankers

Michael Hudson — Sat, 23 Jul 2011 17:00:21 +0000

Michael Hudson argues forcefully that the juxtaposition of bailouts for the largest American banks and cuts for ordinary Americans makes clear that government is promoting a redistribution of income to upper income brackets. He sees the debate over the debt ceiling debate as an integral part of this redistribution

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Save the Bankers originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Bankers Gone Wild in Ireland AND Germany 29 Nov 2010
Save the Virgins! 9 Jul 2010
Will Greece Allow Central Bankers To Destroy Sovereignty? 7 Jun 2011

No Crisis Here

William Black — Tue, 19 Jul 2011 14:26:45 +0000

I decided to look at what President Bush’s Council of Economic Advisors (CEA) were saying in their annual reports for 2005-2007 about the massive real estate bubble, epidemic of accounting control fraud and mortgage fraud, the resultant rapidly developing financial crisis, and the great increase in economic inequality. Here’s what I found on these topics

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
No Crisis Here originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Wallison in His Own Words on Causes of Crisis 8 Feb 2011
Sheila Bair blames the Fed for the credit crisis 14 Jan 2010

2011 EU wide stress test results: 8 failures, 16 near failures

Edward Harrison — Fri, 15 Jul 2011 16:11:06 +0000

8 banks out 90 banks fail: Five in Spain, two from Greece and one from Austria (Spain’s CAM, CatalunyaCaixa, Banco Pastor, Unnim & Grupo Caja; Austria’s Volksbanken; Greece’s Eurobank & ATEBank). One additional bank, Helaba, the German Landesbank, has pulled out at the last second after also failing. I know that Banco Pastor has a

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
2011 EU wide stress test results: 8 failures, 16 near failures originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Ken Lewis defends Bank of America’s stress test results 8 May 2009
Bank by bank breakdown of stress test results 7 May 2009
European Banks: Pre-Stress Test Anxiety 7 Jul 2010

Credit Writedowns » regulation

The Problem with Success

John Reed on Big Banks and Corporatism

Banking Wasn’t Meant to Be Like This

AT&T raising charges by 33%

More on the self-regulatory banking saga, SEC version

Waiting for Bank of America’s bankruptcy or break up

The continuing saga of bank self-regulation and other fairy tales featuring Alan Greenspan

Real Financial Regulators Love Prosecutions of Fraudulent Bank CEOs

A real mission impossible

More News Links: Verizon’s Netflix Bid, Google’s Siri, and Mobile driving ban

Bernanke’s 29 Trillion Dollar Fog of Deceit

William K. Black on MF Global

Debt and Democracy: Has the Link been Broken?

News Links: Ten days of secret planning to rescue markets

Warren Mosler’s Big Fat Greek MMT Exit Strategy

Regulatory handicapping: the CFTC edition

Regulators encouraging banks to game risk models

Meeting Bank Capital Requirements in Europe

In defense of the SEC — no, really

Hard evidence: bailed out banks take more risk

The World’s 29 Too Big To Fail Banks

Sheila Bair on European Regulatory Capture

How government is to blame for global financial crisis

Deleveraging, Banks and Economic Recovery in Ireland

On government, regulation, over-regulation and free markets

Bank of America’s Death Rattle: Not with a Bang, but a Whimper

Europe’s Bank Problem

Why Nobody Went to Jail During the Credit Crisis

The European Bank Bailout

Light at the End of the Tunnel?

How credit crisis revealed weakness in US approach to epidemic of fraud

Soros getting out of the game

Save the Bankers

No Crisis Here

2011 EU wide stress test results: 8 failures, 16 near failures