Dead pan delivery masks the urgent message in this clip.
Office of Financial Research Director Richard Berner and Kissinger Associates Vice Chairman Bob Hormats discuss the credit markets. Here is a direct video link.
Complexity is the intended cloak of deceit in finance. Breaking things down into simple terms is illuminating. And breaking the conglomerates up again into investment companies that are separate and apart from deposit taking-lenders backed by taxpayers, must happen now.
Anat R. Admati is a professor of finance and economics at the Stanford Graduate School of Business. Her recent research has focused on corporate governance and banking. She is the co-author of The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It. The book and many commentaries expose the continued failure by policymakers to protect the public and reduce the harm and distortions from a reckless financial system. Admati believes that explaining the issues to a broad audience is essential for bringing about policy change. Here is a direct video link.
In this extract from her episode of Meet the Renegades, Professor Anat Admati talks us through some of the words that are captured and distorted in order to suit the interests of the banking sector. Here is a direct video link.
Another gift from lax lending and a decade of low rates: an oversupply of rentals in many cities. See, Purpose-built residential rentals picking up steam in Canada: “As pension funds and other big investors seek new, reliable income streams, purpose-build rental is at levels not seen in two decades.” And no, this is not just in Alberta.
In Waterloo, Ontario there are 32,000 student housing units, with a further 7,000 planned and just 31,000 students looking for off-campus housing. (Hat tip: Ben Rabidoux). Bad for owners, but lower rents for tenants, and likely to last for some time.
Joyce Klaver, who works for property management firm Waterloo Off-Campus Housing, says she’s seen the same effects from the sudden “glut” of student housing.
“It’s gone from mom-and-pop organizations to the conglomerates,” she said.
With more buildings going up and more landlords getting into the game, Klaver expects landlords to not only ask for less money, but start offering eight-month lease terms in a bid to ensure their properties are rented.” Here is a direct video link.
