The bank holding companies of those same five banks as of March 31, 2019 are sitting on unthinkable levels of derivatives. … Read More U.S. Financial System Rests on 5 Mega Banks; and They Tanked Yesterday
What if a sizable portion of global economic activity rests on magical thinking?… Read More Banks Sued for LIBOR Collusion — Again!
The similarities to Lehman are growing by the day… Read More Bank Run: Deutsche Bank Clients Are Pulling $1 Billion A Day
This is not a case of a company with a reasonably sound operating business that has managed to inflate stock market expectations a bit. This is a case of a massive valuation that has no relationship to any economic fundamentals… Read More Uber’s Path of Destruction
Collapsed Shares Add to Woes of Woodford Fund that Just Froze Withdrawals… Read More Another UK Outsourcing Giant Teeters, Raising Fears About Future of Entire Sector
Wall Street wiseguys have shifted from buying high risk corporate loans to making them directly… Read More A New Credit Bubble Gets Ready to Burst
His lawyer suggests if the price is too high, he may be willing to take his friend, former president of Mexico, down with him… Read More “Largest Foreign Bribery Case in History” Claims New Scalp: Former Pemex CEO
Critics are renewing attacks on the German giant’s investment banking division now that talks with Commerzbank have collapsed… Read More Deutsche Bank Has No ‘Plan B’
Instead of subprime mortgages being targeted this time around, what’s being stuffed into these bespoke products is corporate debt, which has exploded over the past decade… Read More Reuters Drops a Bombshell: The Big Short Doomsday Machine Is Back
Until the public knows the truth about why the Fed bailed out the insolvent Citigroup – despite its mandate not to lend to an insolvent institution – and why it bailed out Morgan Stanley and Merrill Lynch, which were broker-dealers, not major commercial banks, there can be no confidence in the U.S. financial system.… Read More Is the Fed’s Dirtiest Bailout About to Come Under the Spotlight?
A “bust out” is a fraud tactic used in the organized crime world wherein a business’s assets and lines of credit are exploited and exhausted to the point of bankruptcy… Read More Retail’s Biggest Existential Threat Is Private Equity
“The traditional private equity model should have no place in retail.”… Read More UK-Based Multinational Department Store Debenhams Collapses, After 200 Years of Trading