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Monetary System
Chart of the Day: The World’s Top 50 Banks (bubble chart version)
I have written a few posts showing you the ranking for the big banks globally, with a special emphasis on Europe because of systemic risk. But here's a great bubble chart that gives you a visual on the relative size of the big banks…
The U.S. Banking Crisis Has a Long Way to Go
The banking has not reached the halfway point, maybe not even the midpoint of the first quarter. The FDIC has recorded 307 bank failures. The total could reach 1,800 - 3,000.
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…
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…
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…
On Liquidity Traps and Quantitative Easing
Here's a good discussion of what liquidity traps are from John Hussman. His weekly market commentary begins: "There is the possibility... that after the rate of interest has fallen to a certain level, liquidity preference is…
MMT: A few thoughts on austerity, currency wars and exchange rates
Given the push toward austerity, I want to make a few remarks about the intersection of full employment with trade and exchange rates. It all begins with the British austerity budget. In regards to that budget, recently presented by the…
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…
An update on asymmetric information and corporate governance in bank bailouts
Last June I wrote a post on the topic of corporate governance that pointed to one of only two outcomes as the likely result of the bank bailouts. Outcome number one was bank prudence and low credit growth in the face of uncertainty. Outcome…