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Whistleblowers Say Credit Suisse Bank Has Been Helping Wealthy Americans Dodge U.S. Taxes for YearsMar 29, 2023 - 07:12:39 PDT
The bank notoriously pleaded guilty in 2014 to criminal charges for "knowingly and willfully" helping U.S. clients hide offshore assets and income from the IRS.
Why Small Banks and Commercial Real Estate Could Be Headed for a ‘Doom Loop'Mar 29, 2023 - 07:10:16 PDT
'In the worse-case scenario, we could have a rolling crisis that lasts for years'...
What Are Credit Default Swaps and Why Are They Causing Trouble for Europe’s Banks?Mar 29, 2023 - 07:06:47 PDT
Turbulence in Europe's banks following the implosion of 167-year-old Credit Suisse and runs on regional banks in the U.S. has focused attention on the role played by credit default swaps in all the turmoil.
In this insiders video, Mike shares an unconventional investment that may surprise you.
Gold prices retreated on Wednesday as investors trickled back into riskier assets, betting that risks of contagion from the global banking crisis have been curbed for now.
Mar 29, 2023 - 05:57:44 PDT
Macron’s Pension Gambit Sparks Revolt, Pushing France to the Brink. Bloomberg reports Macron’s Pension Gambit Sparks Revolt, Pushing France to the Brink
Mar 29, 2023 - 05:55:30 PDT
Well, the regional banking crisis has one positive outcome: mortgage rates dropped -46 basis points since last week. The result? Mortgage demand increased 2.9 percent week-over-week (WoW). Although I don’t recommend banking incompetence by bank management and “regulators” as a strategy to increase mortgage demand.
As I currently watch the world slide into chaos due to the scoundrels I love to ridicule, I hope enough of them go bankrupt..
"A lost decade could be in the making for the global economy," Indermit Gill, the World Bank's Chief Economist and Senior Vice President for Development Economics, warned in a new report.
Mar 29, 2023 - 05:51:30 PDT
On Sunday Financial Times reporters Brooke Masters, Harriet Clarfelt and Kate Duguid published an article under the headline: "Money market funds swell by more than $286 billion as investors pull deposits from banks." ... The Financial Times article is talking about the uninsured money market funds. So why would Americans be flocking to these uninsured money market funds during the latest banking panic?
SVB’s Collapse Shows the World’s Favorite Safe Asset Isn’t Risk-Free: BloombergMar 29, 2023 - 05:49:41 PDT
US Treasuries came back to haunt investors and bankers who ignored the basics of interest-rate risk—and there could be more surprises in store.
Investors withdrew $1.6 billion of cryptocurrency from crypto exchange Binance since it was sued by the U.S. CFTC on Monday, blockchain data tracker Nansen said on Wednesday.
China Gave Huge Loans to Some Countries. Now It’s Spending Billions to Bail Them OutMar 29, 2023 - 05:45:54 PDT
For the past decade, China has lent massive sums to governments across Asia, Africa and Europe, growing its global influence through infrastructure megaprojects and becoming one of the world’s biggest creditors.
Michael Barr’s excuses for regulatory blunders are simply unbelievable. No one disputes that bankers failed to hedge the risk posed by rising interest rates to asset prices and deposits. What Mr. Barr didn’t say is that the Fed’s historic monetary mistake created the incentives for the bank blunders.
Mar 29, 2023 - 05:42:09 PDT
Swiss regulators’ decision to write down $17bn worth of Credit Suisse’s additional tier 1 (AT1) bonds as part of the bank’s purchase by UBS rather than wipe out shareholders has called into question the future viability of the $260bn segment of debt markets.
Former Leman VP Who Called the Subprime Mortgage Crisis Is Warning That Stocks Are About to CrashMar 29, 2023 - 05:35:14 PDT
Larry McDonald developed a framework for analyzing stock market risk after his experience during the subprime mortgage crisis, and he says all his indicators are flashing warning signs.
Global creditors are bracing for a long-drawn battle to recover money from China’s troubled developers, as a property meltdown continues to roil the nation’s $735 billion offshore bond market for a third straight year.
Fed’s Bullard Says Rates Hikes Are Directed at Inflation, Not Bank StressMar 29, 2023 - 05:31:40 PDT
Federal Reserve Bank of St. Louis President James Bullard said financial stress has increased in recent weeks due to the banking crisis but can be contained with regulatory policies rather than interest rates.
The slump in South Korea’s property market may lead to defaults on project-financing loans, but policymakers have put in place measures to cope following an unexpected credit crunch last year, according to the nation’s financial watchdog chief.
The European Central Bank will need to increase interest rates further if recent tensions in the financial system stay contained, Chief Economist Philip Lane told Zeit in an interview.