What Happens If Most Businesses & Consumers Tighten Their Belts at the Same Time?

[Note to readers: I will be away from my desk until Sunday, so there will be no new news for the next six days. Have a lovely week] Europe may be about to find out. 128 days with my Mother-in-Law. By Nick Corbishley and cross-posted from WOLF STREET As market players cling to the hope that a… Read More What Happens If Most Businesses & Consumers Tighten Their Belts at the Same Time?

Jeffrey Epstein Chaired a $6.7 Billion Company that Documents Suggest May Have Received a Secret Federal Reserve Bailout

According to a database created by The International Consortium of Investigative Journalists containing files leaked from the law firm Appleby, Jeffrey Epstein, who is under indictment as a sex trafficker and assaulter of underage girls, was the Chairman of Liquid Funding Ltd. from November 9, 2001 to at least March 19, 2007. The offshore business had been incorporated in Bermuda on October 19, 2000 and according to the Fitch ratings firm, it had $6.7 billion in outstanding liabilities in 2006.… Read More Jeffrey Epstein Chaired a $6.7 Billion Company that Documents Suggest May Have Received a Secret Federal Reserve Bailout

Nice Little Earner: Citi Borrows From Fed at 0.35%, Then Charges Struggling Consumers 27.5% on Credit Card Debt

Despite its grand promises to be a beacon of light during the pandemic, customers are spilling their guts to the Consumer Financial Protection Bureau’s complaint database with horror stories of what Citi has put them through during this crisis… Read More Nice Little Earner: Citi Borrows From Fed at 0.35%, Then Charges Struggling Consumers 27.5% on Credit Card Debt