by ringingbells Focal Infographic 20th Century In 1929, the reasons the stock market crashed parrelelled the reasons during the 2008 financial crisis: underwriting. In 1929, it caused Black Tuesday and directly led to the Great Depression, and arguably WWII. June 16, …
by Michael Lebowitz When one bets on a sporting event the facilitator of the bet, referred to as a bookie, charges the winner of the bet the vigorish. The vigorish, commonly known as the vig, is a fixed percentage of …
The banking lobby and the ECB will have a cow. By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. On Friday, Italy’s coalition government unveiled new banking regulations that it hopes to pass in the coming months, including a rule that would …
by Randy_Newman1502 A popular idea that has taken root in people’s imaginations is that “Glass-Steagall” would have “saved” the United States from the vagaries of the financial crisis. My objective here is to argue that it would have done no such …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Is there hope? According to “people with direct knowledge of the matter,” cited by Bloomberg, White House economic adviser and one of the ex-Goldman Sachs executives in the Administration, Gary Cohn, dropped a bombshell at a …