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Economy
Foreclose on the Foreclosure Fraudsters, Part 2
By William K. Black and L. Randall Wray William K. Black is an Associate Professor of Economics and Law at the University of Missouri-Kansas City. He is a white-collar criminologist and was a senior financial regulator. He is the author of…
The Problem With QE2
by Comstock Partners Economic growth remains extremely subdued and a double dip is still a strong possibility. In the first 4 quarters of the current recovery ended June 30th, GDP increased at a rate of 3% annualized, compared to an…
Heckuva Job, Larry
On Comedy Central, the joke was on President Obama Wednesday night. The president had come, on the eve of what will almost certainly be the loss of his governing majority, to plead his case before Jon Stewart, gatekeeper of the…
US jobless claims fall to lowest in three months
According to figures released by the US Department of Labor, US initial jobless claims dropped to 434,000 this past week, their lowest levels in over three months. Analysts had been expecting upwards of 450,000 claims where the numbers have…
BBVA complains about subsidy for loss-making Spanish Cajas
The problem with bailouts is that they allow companies with either poor economics or weak financial structures to compete on a more level playing field with stronger competitors. The bailouts are like a subsidy which gives an unfair…
Video: Ex-president of Argentina Néstor Kirchner dies
News coverage: Argentina 'in shock' at former President Kirchner death – BBC Argentine assets rise on death of ex-President Kirchner – Reuters Kirchner's death may mark end of an era in Argentina – Miami Herald Consternación…
FDIC Loses $25 Billion in One Year
by Alex Daley With talk of quantitative easing round 2 (or QE2 for short), the potential government bailouts of Fannie Mae and Freddie Mac, and mounting problems with state finances, government pension funds, and funding for social…
It isn’t easy being green
by Michael Pettis The seemingly imminent and inexorable rise of the renminbi as a major, even dominant, reserve and trading currency, has been almost as widely heralded as the equivalent rise of the Japanese yen just twenty years ago. Even…
The Subprime Debacle: Act 2, Part 2
by John Mauldin
They Knew What They Were Selling
It's hard to know where to start. There is just so much here. So let's begin with testimony from Mr. Richard Bowen, former senior vice-president and business chief underwriter with…
Foreclose on the Foreclosure Fraudsters, Part 1
By William K. Black and L. Randall Wray William K. Black is an Associate Professor of Economics and Law at the University of Missouri-Kansas City. He is a white-collar criminologist and was a senior financial regulator. He is the author of…