Monetary System

Cynical? Yes. Spot on? Of course. This is what happens when government stops trying to defend consumer interests for the benefit of business interests. Source 'I'm going to shop around and find a rip-off bank that works for me' –…

This comes via the FT: Latvia’s prime minister has warned Swedish banks they risk choking off recovery in the Baltic state’s crisis-hit economy unless they resume lending. Banks such as Swedbank and SEB, which dominate the Latvian…

Hat tip Prieur du Plessis. Source Tom Toles – Washington Post, 21 Dec 2009.

For the period leading up to the panic last year, I had been warning of a rather severe recession. My view at the time was that what was needed was a realignment of America’s industrial organization away from finance and housing where…

Hat tip Prieur du Plessis

Note: this post originally was posted without correct attribution to Bill Mitchell, who writes a blog called Billy Blog where he had posted the thoughts now attributed to him below. Bill is a well-regarded Professor of Economics at the…

Great article in this week’s Barron’s featuring commentary from a number of distinguished market observers including our own Marshall Auerback and Baseline Scenario’s Simon Johnson (hat tip Barry Ritholtz). The last of the big banks…

No buyer for Citizens State Bank, New Baltimore, Michigan. Uninsured depositors may get stiffed. Citizens State Bank, New Baltimore, Michigan, was closed today by the Michigan Office of Financial and Insurance Regulation, which then…

From the FDIC (emphasis added): The Federal Deposit Insurance Corporation (FDIC) approved the payout of the insured deposits of RockBridge Commercial Bank, Atlanta, Georgia. The bank was closed today by the Georgia Department of Banking…

This was an interview we did early last week. Max is very entertaining to talk to.  Take a look. See Stacy Herbert's summary as well.