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Daily Archives: August 23, 2013
El-Erian on contagion effects of less QE
El-Erian makes good points on the need for transparency and stability in public markets, and on the risks to capital coming from the Fed’s shift away from QE (even though the economy is weakening), bad market technicals, and the flight … Continue reading
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Banks face fragile business model
Over the past 3 years, bank profits soared as they were able to set aside mark to market accounting and lever up ‘money for nothing’ from the Fed. At the same time revenue in other sectors and the real economy … Continue reading
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