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Houston: The Banks Have A Huge Problem
Houston: The Banks Have A Huge Problem For many years after the financial crisis, US commercial banks were mocked when instead of generating earnings the old-fashioned way, by collecting the interest arb on loans they had made, or even by frontrunning the Fed with their prop (and flow) trading desks, they would “earn” their way […]
Are US Banks Facing a Credit Trap?
Are US Banks Facing a Credit Trap? Punta del Este | As we head into Q4 2019 earnings this week, US financials have never been so expensive and risk indicators have never been so skewed. Just as last July we called the problems brewing in the short-term money markets in a discussion on CNBC’s Halftime […]
The Fed Is on High Alert
The Fed Is on High Alert It’s hard to believe the end of the year is upon us and 2020 is right around the corner. In many ways, it went by very quickly. For economies and markets, it was a year marked by uncertainty over economic slowdowns, trade wars and a complete pivot in “dark […]
Turkey On Verge Of Collapse As Overnight Swaps Hit 700%, CDS Soar
Turkey On Verge Of Collapse As Overnight Swaps Hit 700%, CDS Soar In Turkey’s ongoing attempt to crush currency manipulators, yesterday we reported that in addition to launching a “probe” against JPMorgan, the biggest US bank, for daring to cut its TRY price target, as well as threatening unnamed “manipulators”, on Monday Turkish authorities took a page […]
Just in Time Stimulus: Fed Proposes Looser Rules for Large U.S. Banks
Just in Time Stimulus: Fed Proposes Looser Rules for Large U.S. Banks The Fed’s proposal marks one of the most significant rollbacks of bank regulations since Trump took office. The Wall Street Journal reports Fed Proposes Looser Rules for Large U.S. Banks The Federal Reserve announced one of the most significant rollbacks of bank rules […]
Fed To Ease Liquidity Requirements For Regional Banks As Brainard Warns Of More Bailouts
Fed To Ease Liquidity Requirements For Regional Banks As Brainard Warns Of More Bailouts On Wednesday the Federal Reserve is set to vote on proposals that would further ease capital requirements for banks with assets of $700 billion or lower, expanding on Trump’s promise to deregulate Wall Street. The biggest benefits will come to banks […]
Crisis After Crisis: 10 Years After the Crash, There’s No ‘Reforming’ Global Capitalism
Crisis After Crisis: 10 Years After the Crash, There’s No ‘Reforming’ Global Capitalism The real battle is now between two post-globalization camps: democratic socialists… and fascists. Shutterstock It is now clear that financial crises are not discrete events but are linked phenomena that have been unleashed on the globe ever since the financial markets were […]
Subprime Begins to Haunt Credit Card Balances
Subprime Begins to Haunt Credit Card Balances Delinquencies soar past Financial-Crisis peak at the ca. 5,000 smaller US banks, and these are the Good Times. What’s going on? The delinquency rate on credit-card loan balances at commercial banks other than the largest 100 – so at the nearly 5,000 smaller banks in the US – […]
Gold and the Monetary Blockade on Iran
Gold and the Monetary Blockade on Iran This blog post is a guest post on BullionStar’s Blog by the renowned blogger JP Koning who will be writing about monetary economics, central banking and gold. BullionStar does not endorse or oppose the opinions presented but encourage a healthy debate. With Donald Trump close to re-instituting economic sanctions on Iran, it’s […]
Gary Cohn Backs Reinstating Glass-Steagal, Breaking Up Big Banks
Gary Cohn Backs Reinstating Glass-Steagal, Breaking Up Big Banks In an unexpected statement made by the former COO of Goldman Sachs and current director of Trump’s National Economic Council, Gary Cohn told a private meeting with lawmakers on the Senate Banking Committee on Wednesday evening that he could support legislation breaking up the largest U.S. […]
Corruption, resources, climate and systemic risk
Corruption, resources, climate and systemic risk Corruption is a loaded word. One person’s corruption is another’s sound social policy. Some people believe providing unemployment benefits to laid-off workers corrupts them by making them “lazy.” Many others think such benefits are sound social policy in an economic system that is prone to major cyclical ups and […]
US Bank Counterparty Risk Soars After Energy MTM Debacle
US Bank Counterparty Risk Soars After Energy MTM Debacle A few dots are starting to be connected now that we have exposed the debacle of The Fed’s decision to allow banks to mark-to-unicorn their energy loans. “Something” was wrong in recent weeks as the TED-Spread surged (implying rising counterparty uncertainty among banks) and then the last week – since The […]
Forget about Ebola – here’s why US banks (and your savings) are now EXTREMELY vulnerable
Forget about Ebola – here’s why US banks (and your savings) are now EXTREMELY vulnerable. For a casual observer of the US economy (most “experts”), you could say that things look pretty good. Unemployment is at its lowest rate in six years. Earnings of S&P 500 companies are higher than ever, while their debt is […]
