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Former Fed Advisor Asks “Has The Fed Bankrupted The Nation”
Former Fed Advisor Asks “Has The Fed Bankrupted The Nation” Volcker, Greenspan, Bernanke and Yellen. Which one does not belong? Logic dictates that Volcker should have been odd man out. After all, there is no legendary “Volcker Put.” The towering monetarist made no bones about never being bound by the financial markets. The same can certainly not […]
The Liquidity Endgame Begins: Whiting’s Revolver Cut By $1.2 Billion As Banks Start Slashing Credit Lines
The Liquidity Endgame Begins: Whiting’s Revolver Cut By $1.2 Billion As Banks Start Slashing Credit Lines Earlier today we reminded readers about the circular (and why note fraudulent conveyance) scheme hatched by JPMorgan to reduce its secured loan exposure to Weatherford, when just two weeks ago none other than JPM underwrote an WFT equity offering in which […]
The Oil Short Squeeze Explained: Why Banks Are Aggressively Propping Up Energy Stocks
The Oil Short Squeeze Explained: Why Banks Are Aggressively Propping Up Energy Stocks Last week, during the peak of the commodity short squeeze, we pointed out how this default cycle is shaping up to be vastly different from previous one: recovery rates for both secured and unsecured debts are at record low levels. More importantly, we noted […]
Dallas Fed Unplugs Oil Bulls, Warns of Liquidity Crunch, Contagion
Dallas Fed Unplugs Oil Bulls, Warns of Liquidity Crunch, Contagion “Negative ripple effects” The rally in crude oil has been red hot. In the three weeks since February 11, WTI shot up a short-crushing 34% to $34.69 a barrel at the moment. Now the talk in the oil patch is at what price these desperate […]
Is This the Beginning of the Next Recession?
Is This the Beginning of the Next Recession? “Significant risk” of “falling into contraction” with “worse to come.” The US economy is largely service based. So when the “manufacturing renaissance” and “on-shoring” that everyone had been waiting for turned into no-shows, and when instead manufacturing started slowing in early 2015, it was no big deal, […]
Dallas Fed “Responds” To Zero Hedge FOIA Request
Dallas Fed “Responds” To Zero Hedge FOIA Request Two weeks ago, Zero Hedge reported an exclusive story corroborated by at least two independent sources, in which we informed our readers that members of the Dallas Federal Reserve had met with bank lenders with distressed loan exposure to the US oil and gas sector and, after parsing through […]
Why A Former Fed Official Fears A Global Meltdown
Why A Former Fed Official Fears A Global Meltdown Authored by Gerald O’Driscoll, former vice president at The Dallas Fed, posteed op-ed at The Wall Street Journal, Are we headed for another global financial crisis? The market convulsions of the past week reflected a continuation of a market selloff that began on the first trading day […]
Texas Economy Collapses – Dallas Fed Survey Crashes To 6-Year Lows As “D” Word Is Uttered
Texas Economy Collapses – Dallas Fed Survey Crashes To 6-Year Lows As “D” Word Is Uttered For the 13th month in a row, The Dallas Fed Manufacturing Outlook was contractionary with a stunning -34.6 print following December’s already disastrous collapse back to -20.1, post-crisis lows. With “hope” having plunged back into negative territory (-2.2) in December, January […]
A Glimpse Of Things To Come: Bankrupt Shale Producers “Can’t Give Their Assets Away”
A Glimpse Of Things To Come: Bankrupt Shale Producers “Can’t Give Their Assets Away” Over the course of the last several weeks, we’ve spent quite a bit of time sounding the alarm bells on America’s growing list of bankrupt oil and gas drillers. We’ve also been keen to point out that the long list of […]
Negative Oil Prices Arrive: Koch Brothers’ Refinery “Pays” -$0.50 For North Dakota Crude
Negative Oil Prices Arrive: Koch Brothers’ Refinery “Pays” -$0.50 For North Dakota Crude Do you have some extra space in your garage or attic? Or perhaps you own an oil tanker you aren’t currently using. Or maybe you have a storage unit that’s got a little extra room next to an old mattress and box […]
Exclusive: Dallas Fed Quietly Suspends Energy Mark-To-Market On Default Contagion Fears
Exclusive: Dallas Fed Quietly Suspends Energy Mark-To-Market On Default Contagion Fears Earlier this week, before first JPM and then Wells Fargo revealed that not all is well when it comes to bank energy loan exposure, a small Tulsa-based lender, BOK Financial, said that its fourth-quarter earnings would miss analysts’ expectations because its loan-loss provisions would be higher […]
