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Why is the Fed considering lending cash directly to hedge funds? Here's a little hint: In September, the Cayman Islands (pop. 61,000 & GDP of $3.2B) were the US' 7th … Read more
Numbers don't lie. The problems in the overnight lending market are more than TWICE as bad as they were in the second half of 2008. Where's Kevin Bacon? Let's get … Read more
JPMorgan’s Warning: Lower Equity Returns Are on the Way Nov.06 — Kerry Craig, global market strategist at JPMorgan Asset Management, talks about the outlook for corporate earnings and stock markets. … Read more
via wallstreetonparade: Last Friday the Federal Reserve Bank of New York made it clear that its interventions in the overnight repo lending market were going to be a longer-term action. Call … Read more
Goldman, which is in charge of deciding who gets the Apple Card, is accepting some applications from users with less-than-stellar credit scores, according to people with knowledge of the matter. … Read more
From Birch Gold Group Like clockwork, this week POTUS and and congressional leaders reached an agreement to have the debt ceiling suspended again. That means the U.S. Government has a renewed open checkbook it … Read more
Bank of America Corp., the second-biggest U.S. bank, will stop lending to companies that run private prisons and detention centers. “We have decided to exit the relationship’’ with companies that … Read more
via forbes: By no means are banks immune to any downturn in leveraged lending. As pointed out in a very detailed research piece last week by Standard and Poor’s LCD … Read more
by WARREN MOSLER Interest-Rate Policy Is Backward, Modern Monetary Theory Pioneer Mosler Says Under consumption identity: for ever agent that spent less than his income, another must have spent more, … Read more
If the banks have restructured such that debt risk has been placed in the hands of (debt) holders rather then the banks why are the banks involved at all? This … Read more
by confoundedinterest This week, Turkey further roiled markets by preventing foreign banks from accessing the liras they need to close out their swap positions. That’s made it almost impossible for bankers to short … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter But deposit-taking banks have pulled back. Lovingly known as “shadow banks,” nonbanks have come to dominate the mortgage market. And they originate the riskiest mortgages. The … Read more
by WARREN MOSLER Chinese state company defaults offshore, first time in 20 years (FT) A Chinese state-owned enterprise from the country’s remote north-west has failed to repay a US dollar bond in Hong … Read more
by Keith Weiner of Monetary Metals Ayn Rand famously defended money. In Atlas Shrugged, Francisco D’Anconia says: “So you think that money is the root of all evil? . . . Have you ever … Read more
www.cnbc.com/2019/02/21/personal-loans-surge-to-a-record-138-billion-in-us-as-fintechs-lead-new-lending-charge.html Total outstanding U.S. consumer loans hit a new record last year, driven by digital-first lending options. Financial technology, or fintech, companies now make up 38 percent of the personal … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter What banks & housing markets in Sydney and Melbourne are facing in 2019. As investors are fleeing Australia’s housing bust, sales of new houses have plunged to … Read more