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

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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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