North Dakota took on the oversight of a multibillion-dollar oil industry with a regulatory system built on trust, warnings and second chances. The cooperative approach doesn’t seem to generate results.
NYT -In early August 2013, Arlene Skurupey of Blacksburg, Va., got an animated call from the normally taciturn farmer who rents her family […]
Value Walk, By Mark Melin, November 21
After press reports reveal more than a cozy relationship, but sharing of confidential documents, investigation called for on eve of Senate testimony on the issue
After a withering expose in The New York Times that showed bank regulators at the New York Federal Reserve sharing confidential information with […]
Report Notes Deals Between Goldman, Deutsche and Others Drove Up Aluminum Prices
The Wall Street Journal, by Christian Berthelsen & Ryan Tracy, November 19
Washington — A U.S. Senate report on commodity-market activities at big Wall Street banks accuses the firms of being so powerful they were able to influence prices, gain trading advantages and […]
Just about everything the Federal Reserve Bank does speaks of dignity. Dignified premises, dignified public relations, dignified people running and staffing the institution. The same applies to all the other major central banks, like the Bank of England, the Banque de France, the Deutsche Bundesbank, the European Central Bank, and the Bank of Japan. You […]
Regulators in US and UK mete out record fines after finding a ‘free for all culture’ on currency trading floors at RBS, HSBC, Citibank, JP Morgan and UBS
The Guardian, By Jill Treanor, November 12
The corruption of the world’s biggest currency dealers was laid bare on Wednesday when regulators imposed £2bn of fines on […]
Rolling Stone!, By Matt Taibbi!, November 6
She tried to stay quiet, she really did. But after eight years of keeping a heavy secret, the day came when Alayne Fleischmann couldn’t take it anymore.
“It was like watching an old lady get mugged on the street,” she says. “I thought, ‘I can’t sit by […]
President Obama announced today that in the spirit of bi-partisanship he will agree to repeal Obamacare. The press release follows:
The shocker victory of Republican governor-elect Larry Hogan here in deep blue Maryland is a vivid example of how the Democratic Party is paying the price for having sold its base down the river. Here is WaPo on the physics of Tuesday’s gubernatorial Democratic unraveling here in the Free State:
With more than 90 percent […]
(originally posted Oct 31) This week the Federal Reserve put an end to their fourth round of Quantitative Easing, having exploded their balance sheet from $800 billion at the start of QE, to over $3 trillion today. Everyone thought that the financial markets would now have to live without the monetary dope that has been […]
The pilots of the global financial system must navigate menacing storm clouds, and fights are breaking out among the passengers, writes Nouriel Roubini
The Guardian, By Nouriel Roubini, November 2
The global economy is like a jetliner that needs all of its engines operational to take off and steer clear of clouds and storms. Unfortunately, […]
Six years after the Lehman disaster, the industrialized world is suffering from Japan Syndrome. Growth is minimal, another crash may be brewing and the gulf between rich and poor continues to widen. Can the global economy reinvent itself?
Der Spiegel, By Michael Sauga, October 23
A new buzzword is circulating in the world’s convention centers […]
Renegade Economists: October 1, 2014: DOUBLETHINK TANKS, TAR SANDS, WATER & IMPERIALISM.
Michael Hudson, October 9
Karl Fitzgerald: This week on the Renegade Economists we’re joined by Professor Michael Hudson, the author of The Bubble & Beyond, Super Imperialism, and a host of other books. You can read his work at www.Michael-Hudson.com. Certainly our favourite […]
Naked Capitalism, By Yves Smith, October 26
I’m a big fan of Richard Bookstaber, the author of the important book A Demon of Our Own Design. And while I’m glad to see a rare new post from him, on how to deal with the matter of inequality (as in whether to deal with the problem […]
Local activists try to halt the shipment of explosive Bakken crude oil through their neighborhoods.
Al Jazeera, By Audrea Lim, October 24
Richmond, CA — The streets are quiet in Lipo Chanthanasak’s neighborhood on the outer edge of this city’s downtown core. Each of the small houses is painted a variation of beige and separated […]
I somewhat infrequently read Dmitri Orlov. He’s Russian born, but moved to the US as a child, was educated here and wrote a book called Reinventing Collapse which I found illuminating. He recently penned a piece about our indelicate handling of the rest of the world, taken from his Russian perspective. I don’t necessarily share […]