The EU’s proposal to split up retail and investment banks is buried. So much for reigning in these “too big to fail” banks. As the article states: The withdrawal of the … Continue reading Banks Win as EU Scraps Proposal to Split Up Retail and Investment Banks
Subprime loans were one of the main causes of the credit crisis. So why is lending to risky borrowers back in vogue? Hmmmm, perhaps because we bailed out the banking system without … Continue reading The return of high risk mortgages? – FT
Michael Hudson provides an MMT perspective on why governments are avoiding deficits. It hurt’s their banking donors profitability. The aim of neoliberals is to prevent governments from spending money to revive growth … Continue reading Why Deficits Hurt Banking Profits
Barclays Bank admitted that it rigged the London InterBank Offered Rate from 2007 through 2009 to show that they could borrow money at a lower rate than they actually could. Why did … Continue reading Libor Scandal – $800 Trillion!!