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Daily Archives: August 20, 2013
China’s shadow banking system is sub-prime on steroids
A look at China’s off-the-balance-sheet loans, which are at the heart of the country’s $6 trillion shadow banking industry. Here is a direct video link.
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SEC extracting admissions of fault in settlement negotiations (at long last)
Hedge fund manager Philip A. Falcone has agreed to admit wrongdoing and to be banned from the securities industry for at least five years to settle market manipulation accusations. As part of the settlement, he and his fund, Harbinger Capital … Continue reading
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Indian economy slumps as speculative flows retrench
The Indian stock market is now down 25% year to date and 44% since global growth peaked in 2011. India’s currency has continued to weaken despite efforts by the central bank to stem its decline. On Monday, the rupee hit … Continue reading
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