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Category Archives: Banking News
New Mortgage Modification Program Can’t Stop Further Housing Collapse
Written by Keith Jurow, Capital Preservation Real Estate Report Here We Go Again On March 27, 2013, the Federal Housing Finance Administration (FHFA) announced the introduction of still another mortgage modification program. Entitled the Streamlined Modification Program, it was intended … Continue reading
Why Is Kenneth Rogoff Puzzled by Low Interest Rates?
by Dirk Ehnts, Econoblog101 In an article published at Project Syndicate, Harvard professor Kenneth Rogoff writes about the long mystery of low interest rates. Here is the main issue: A lot has changed since 2005. We had the financial crisis, … Continue reading
Posted in Banking News, Economics, Federal Reserve, macroeconomics, money
Tagged Dirk Ehnts, Economy, employment, Federal Reserve, GDP, unemployment
1 Comment
Government Debt and Deficits Are Not the Problem. Private Debt Is.
by Michael Hudson, New Economic Perspectives Remarks by Prof. Michael Hudson at The Atlantic’s Economy Summit, Washington DC, Wednesday, March 13, 2013. There are two quite different perspectives in the set of speeches at this conference. Many on our morning … Continue reading
Posted in Banking News, macroeconomics, money, mortgages
Tagged consumer debt, debt, Economy, GDP, michael hudson, national debt, private debt, public debt, rentier
1 Comment
Stratfor: Disturbing Precedent in the Cyprus Bailout
By George Friedman, Founder and Chairman, Stratfor The European economic crisis has taken different forms in different places, and Cyprus is the latest country to face the prospect of financial ruin. Overextended banks in Cyprus are teetering on the brink … Continue reading
Posted in Banking News, Eurozone, aa syndication
Tagged banking, banks, Cyprus, deposits, EU, George Friedman, profit, russia, shareholders, Stratfor, Tax, usa
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“Pervasive” Fraud by our “Most Reputable” Banks
by William K. Black, New Economic Perspectives A recent study confirmed that control fraud was endemic among our most elite financial institutions. Asset Quality Misrepresentation by Financial Intermediaries: Evidence from RMBS Market. Tomasz Piskorski, Amit Seru & James Witkin (February … Continue reading
Designing A Federal Bank
by Harold James, Voxeu Do economists and policymakers know how to design a federal bank for Europe? Is there a template? This column explores the history of the US Federal Reserve, gleaning lessons for the future of the European banking … Continue reading
Posted in Banking News, Eurozone, Government
Tagged banks, Central banks, Economy, Harold James, money and banking
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Is Inflation really a Problem?
by EconMatters, EconMatters.com Consumers only focus on Inflation, they ignore Deflation areas It seems that to exclusively focus on one side of the equation can be human nature at times, and with regard to inflation concerns humans never see the … Continue reading
Posted in Banking News, Commodities, Economics, Federal Reserve, Home Sales and Home Prices
Tagged deflation, EconMatters, Economy, Federal Reserve, GDP, inflation, recession
2 Comments
Did Securitization Lead to Riskier Corporate Lending?
by Joao Santos, Federal Reserve Bank of New York There’s ample evidence that securitization led mortgage lenders to take more risk, thereby contributing to a large increase in mortgage delinquencies during the financial crisis. In this post, I discuss evidence … Continue reading
Can Banks Really Just Create Money?
Special Analysis Article from Bullion Vault by Paul Tustain, Bullion Vault It’s the banks, not their customers, who actually wind up owing each other money… Observers of Fractional Reserve Banking have noticed that your deposit into a bank can cause … Continue reading
Posted in Banking News, Business News and Analysis, money
Tagged banking, Economy, Federal Reserve, GDP, money, money and banking, Paul Tustain, trade balance
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Some Talk: The Biased Base of Basel
by Takeo Hoshi, Voxeu.org Implementation of Basel III in the US Will Bring Back the Regulatory Arbitrage Problems under Basel I Rejigging financial regulation is in vogue. But, in the world of international finance, how well do different regulatory systems … Continue reading
Posted in Banking News, Economics, GDP, economic predictions
Tagged Basel III, Economy, Federal Reserve, Takeo Hoshi
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Central Banks Can Phase in Nominal GDP Targets without Losing the Inflation Anchor
by Jeffrey Frankel, Jeff Frankel’s Weblog The time is right for the world’s major central banks to reconsider the framework they use in conducting monetary policy. The US Federal Reserve and the European Central Bank are grappling with sustained economic … Continue reading
Posted in Banking News, Eurozone, Federal Reserve, GDP, money
Tagged ECB, Economy, GDP, inflation, Jeffrey Fraenkel
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Troubled Times Ahead for Community Banks
A Wonderful Life for Community Banks? by Bob Beard and Carl W. Raggio III, as posted by John Slater at Capital Matters During the year-end holidays we reach out for the comfort of the familiar. One of the best ways … Continue reading
Posted in Banking News
Tagged Bob Beard, Carl W. Raggio III, community bank, Economy, John Slater
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Too Big to Fail is a Red Herring
TARP Revisited: Banks “Too Large to Fail”- A Red Herring by Elliott Morss, Morss Global Finance Introduction Remember the Troubled Asset Relief Program (TARP)? Initiated in 2008 to bail out the US financial system, it is still around. In this, … Continue reading
Posted in Banking News
Tagged Elliott Morss, Morss Global Finance, TARP, Troubled Asset Relief Program
6 Comments
The Great Debate©: Did Fannie and Freddie Cause the Great Financial Crisis?
The Neville Awards Case Against Fannie and Freddie Written by John Lounsbury The Neville Awards is a website that has collected published media reports and opinion about the role of Fannie Mae and Freddie Mac in creating the Great Financial … Continue reading
What Have Economists Ever Done for Us?
by Andrew G. Haldane, Executive Director Bank of England, from Vox EU There is a long list of culprits when it comes to assigning blame for the financial crisis. At least in this instance, failure has just as many parents … Continue reading
Credit to Small Enterprises: The silent crisis
by Jayati Ghosh, from Triple Crisis Blog A new BIS working paper by Cecchetti and Kharroubi makes a point that is becoming more widely known, especially after the continuing financial crises experienced globally since 2008. This is that the level … Continue reading
Update: The Best Way to Rob a Bank is to Own One
by William K. Black, New Economic Perspectives Editor’s note: This is a summary of the writings of Prof. Black over the past several years encompassing the manifest destiny of the political and economic thinking that resulted in the Great Financial … Continue reading
Posted in Banking News, money
Tagged banking, banking fraud, prosecution of fraud, regulation, William K. Black
1 Comment
Bloomberg: Misleading on Banks Buying Treasuries
by Lee Adler, The Wall Street Examiner Bloomberg had this headline yesterday: Banks Use $1.77 Trillion To Double Treasury Purchases They led with this: The gap between U.S. bank deposits and loans is growing at the fastest pace in two … Continue reading
Posted in Banking News
Tagged banking, banks, banks buy treasuries, Bloomberg, Lee Adler, MBS, mortgage backed securities, Treasuries, wall street examiner
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The Great Debate©: Is More Financial Regulation Needed?
The debate is started by a Wall Street Journal column written by Wendy Long, Republican/Conservative Candidate for the U.S. Senate from New York. The reply is by William K. Black, a frequent contributor to Global Economic Intersection. A Smarter Approach … Continue reading
