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Daily Archives: November 30, 2011
The irony of a modern day bank run
Risk markets were all lower overnight and early this morning. Then Central bankers led by the US Fed announced emergency intervention to help lower the swap costs for US dollars needed by the ECB for Euro banks. As with all … Continue reading
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Matt Taibbi on the Rakoff rejection of “no fault” plea for banks
Matt Taibbi of Rolling Stone discuss the remarkable decision by U.S. District Judge Jed Rakoff to reject a $285 million settlement between Citigroup and the Securities and Exchange Commission for misleading investors. Taibbi points out that banks take punitive settlements … Continue reading
Once more to the fore: end-of-month-pump-plan promised
As the world’s Central bankers once more “co-ordinate” to promise fire trucks full of money to the freezing global credit markets, stock markets are doing back-flips on the news. The fact that global contagion and recession risks are now evident … Continue reading
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