Libor Pains
“It was when Nick Clegg joined the campaign against Bob Diamond that I started to feel a sliver of sympathy for the now former-boss of Barclays. Not very much sympathy, mind. Just a tiny bit. But put...
View ArticleKeithGram: The LIBOR Scandal
By now, most readers are aware that Barclays and probably many other banks have been caught red-handed gaming the London Inter-Bank Offer Rate (LIBOR). No, I am not going to analyze the “cause”, call...
View ArticleJPM’s Whale of a Problem and Futures Market Scandals May Help Lead to...
The Telegraph (U.K.) had a terse description of JPM’s Chief Investment Office that helped crystallize my thinking: The bank stunned Wall Street when it disclosed that a series of bets made by the CIO...
View ArticleJPM’s Whale Problem Still Roiling As Bloomberg News Disputes Key Management...
The blogger’s gift that keeps on giving appears to be Jamie Dimon’s whale of a problem. Bloomberg.com is taking direct aim at a key assertion the firm’s top execs made just two days ago, in a...
View ArticleBroke Bank Mountain
Why, for example, do we need a central bank at all? A typical if feeble answer is that we need a lender of last resort. To which the answer is: why? Why do we need a government-appointed entity to...
View ArticleEurozone Banks Exiting U.S.
[This research note is from Deutsche Bank's DB Reasearch group.] Since the outbreak of the financial crisis in 2007, Europe’s banks have been gradually retreating from the US market, thereby making...
View ArticleHang ‘em High
“Measures of central bank balance sheet expansion under-estimate the scale of liquidity support provided during the crisis … there has been a widening of the collateral taken by most central banks in...
View ArticleA Feral Pit Of Total War
“When I arrived in Amsterdam recently I took a taxi to my hotel. Over the radio came this uplifting and heartfelt lyric: ‘I’ve had a s**t day and I’ve had enough’ (having gone through airport security...
View ArticleYotai Gap Continues to Enlarge as Corporations Risk Their Balance Sheets To...
As one of the few American chroniclers of the still-obscure “yotai gap” phenomenon that has been present in Japan for a number of years, I read with interest a ZH post today that discusses it without...
View ArticleDocComment: If At First You Don’t Succeed, Mess With It Some More?
An article summary from the U.K.’s Telegraph appeared today that read (LINK): Money printing has “limited influence” on growth and more radical measures are needed to stimulate the economy, the newest...
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