Wednesday , 18 September 2019

Finance

DOJ Sues Edward Snowden, Seeks To Freeze Memoir Revenues Over ‘Illegal Disclosures’

DOJ Sues Edward Snowden, Seeks To Freeze Memoir Revenues Over ‘Illegal Disclosures’ On the very day Edward Snowden’s new memoir, “Permanent Record,”  hit bookshelves, the US government has filed a lawsuit which could end in the Department of Justice (DOJ) freezing the book’s revenue.  The DOJ is alleging the book violates non-disclosure agreements he previously signed when joining the CIA, and also ... Read More »

Investors Are The Most Apocalyptic Since August 2009, Completely Ignoring Last Week’s Quant Crash

Investors Are The Most Apocalyptic Since August 2009, Completely Ignoring Last Week’s Quant Crash Less than 10 days ago, Morgan Stanley laid out what was the biggest challenge facing the market: the fact that nobody was prepared, or certainly positioned, for the economy to turn better. Well, just one day later, the biggest quant crash since 2007 followed, as consensus ... Read More »

Did The Fed Fail: Repo Rate Refuses To Drop

Did The Fed Fail: Repo Rate Refuses To Drop Either Bloomberg needs to get better source of repo pricing data, or else today’s first in a decade repo operation by the Fed was a failure. Why? Because whereas the overnight general collateral rate was indeed trading around 10% first thing this morning amid full-blown repo funding panic until the Fed ... Read More »

Could Ultra-Low Interest Rates Be Contractionary?

Could Ultra-Low Interest Rates Be Contractionary? Authored by Ernest Liu, Atif Mian, and Amir Sufi via Project Syndicate, Although low interest rates have traditionally been viewed as positive for economic growth because they encourage businesses to invest in enhancing productivity, this may not be the case. Instead, extremely low rates may lead to slower growth by increasing market concentration and ... Read More »

Divesting From Oil Companies Does ‘Nothing’ To Save The Climate, Bill Gates Says

Divesting From Oil Companies Does ‘Nothing’ To Save The Climate, Bill Gates Says Climate activists who have convinced pension funds to divest from energy stocks as a way of taking a stance on the climate can save their breath, because according to Microsoft founder Bill Gates, they’re wasting their time. Those who are trying to save the world from climate ... Read More »

America’s Biggest Banks Are Rehabilitating The Mortgage Bonds That Crashed The Economy In 2008

America’s Biggest Banks Are Rehabilitating The Mortgage Bonds That Crashed The Economy In 2008 10 years after a blowup in the private-label MBS market nearly brought down the global banking system, the biggest, most systemically important banks (who were ultimately forced to accept a government bailout and a round of consolidation during the fallout) have apparently decided that enough time ... Read More »

JP Morgan Blames Bear Stearns For ‘Criminal Enterprise’ At Precious Metals Trading Desk

JP Morgan Blames Bear Stearns For ‘Criminal Enterprise’ At Precious Metals Trading Desk Now that prosecutors have blamed what they have described as a criminal organization operating inside JP Morgan, it appears the largest bank in the US by assets is resorting to an old strategy for sloughing off accusations of corporate fraud: Blaming it all on an acquisition. According ... Read More »

“Socrates, Yogi Berra, And Donald Rumsfeld Walk Into A Bar…”

“Socrates, Yogi Berra, And Donald Rumsfeld Walk Into A Bar…” Authored by Danielle DiMartino Booth via QuillIntelligence.com, With stocks at all-time highs, any significant correction will have a devasting effect on the 55% of boomers who have retirement savings; of the 10,000 boomers retiring daily 1,500 have at best two years of living expenses while 4,000 will be living solely ... Read More »

What Happens Next In Repo? The World’s Biggest Interdealer Broker Explains

What Happens Next In Repo? The World’s Biggest Interdealer Broker Explains When it comes to the shady events in the shadow banking world of collateral assets and repurchase agreements, nobody does it better than interdealer broker, ICAP, which is not only intimately familiar with just how the Fed’s plumbing vision takes place in the real world, but also happens to ... Read More »

Elizabeth Warren And The Economics Of Magical Thinking

Elizabeth Warren And The Economics Of Magical Thinking Authored by Max Gulker via The American Institute for Economic Research, In a Democratic primary field that looks like the cast of a Christopher Guest ensemble mockumentary, three candidates have established an early lead – Joe Biden, Bernie Sanders, and Elizabeth Warren. Sanders and Warren represent very distinct visions of the party’s left flank, ... Read More »