banks

A lot of people have asked me to write about the recently “leaked” CBRC report on dodgy local government debt.  Here is what the article in Monday’s Bloomberg had to say about it (and note especially that delicious second paragraph):…

By Annaly Capital Management The economic research staff at the Federal Reserve Bank of New York has been busy. Last week we wrote about the New York Fed’s Staff Report No. 458 , which discussed the shadow banking system in the United…

After a long and rather tense wait, the initial response to the publication of the European bank stress tests was always going to be something of an anti-climax. Indeed the results should hardly have comes as a surprise to anyone It is…

Grantham argues that a disproportionate share of the US economy is devoted to financial services.

Marc Chandler is on holiday. This post comes via Win Thin, senior currency strategist at BBH. Newswires are reporting that a big German institution failed the bank stress tests.  The fact that this institution had already been taken…

Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession  (McGraw-Hill, 2009). We wince at congressional ineptitude but in one category…

Pretty hard to argue now the Spanish bank borrowing from the ECB is simply in line with the country’s share of total GDP I would have thought. Also, after having trended upwards ever so slightly for a couple of months, Spain’s industrial…

Spain's Finance Minister Salgado says the downgrade of Portugal earlier today does not put pressure on Spain. It is true as far as it goes, but of course Spain's problem transcends Portugal. The ruling Socialists in Spain are seven seats…

Wallace Tuberville writes that if we let Goldman go back to its old ways, no one wins. This post originally appeared at New Deal 2.0. William D. Cohan’s op-ed piece in the July 7th New York Times had the same title as this article, but for…

I don't buy the arguments David Galland gives about the shamans and the virgins when talking about financial reform. He says: dancing around open fires bedecked in certain animal skins or allowing shamans to sacrifice virgins were seen…