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Daily Archives: September 29, 2014
Complexity and government backing abet banksters
It is impossible for regulators or anyone else to control mammoth financial conglomerates that are designed to maximize risk-taking without personal consequences to the actors involved. The answer is not more regulation, but smaller institutions that separate deposit taking utilities … Continue reading
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Warren calls for hearing on whistleblower tapes re Fed and Goldman Sachs
“Sens. Elizabeth Warren (D-Mass.) and Sherrod Brown (D-Ohio) are both calling for Congress to investigate the New York Federal Reserve Bank after recently released secret recordings show the central bank allegedly going light on firms it was supposed to regulate. … Continue reading
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Stock market headed for Minsky moment
“We’re still not wise enough to realize that our current model is a ‘Ponzi’ scheme rushing toward its inevitable ‘Minsky moment’,” Steen Jakobsen, a chief economist at Danish investment bank Saxo Bank, said in a research note on Friday. Here … Continue reading
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