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Banks Win Again As Proposed "Toughened" Basel Derivatives Rule "Seems To Have...
Overnight, Bloomberg released its analysis of a Basel derivatives rule proposed last year according to which banks would be required to set aside more money in the event swaps making up the $693...
View Article“It’s not a bubble,” Retail Investors Are Told As The Smart Money Bails Out
Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichter“Biotech Stocks’ Rout Perplexes Analysts” is how the Wall Street Journal headlined the phenomenon. The Nasdaq Biotech Index had...
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Is Banking a New Form of Slavery?
In Part 2 of my series about the wealth-destructive misanthropic power of banker controlled HFT algorithms, I will link the revelations in Part 1, “The One Revelation About HFT Programs That Truly...
View ArticleIn "Flash Boys," Michael Lewis Misses the Point -- Deliberately
Michael Lewis’ new book “Flash Boys: A Wall Street Revolt,” hit the top of The New York Times bestseller list a week after its release. As you would expect, the book is skilfully assembled and quite...
View ArticleFrontrunning: April 25
Russia raises interest rates to 7.5% (FT)Shanghai to Allow Raw Material Exchanges in Trade Zone (BBG)US, Japan Fail to Clinch Trade Deal (WSJ)'We don't have a magic wand', says ECB's Constancio...
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This Is Crazy! Current Leveraged Recap Binge Is Clone Of 2007 Mania
Submitted by David Stockman via Contra Corner blog,This eruption of late cycle bubble finance hardly needs comment. Below are highlights from a Bloomberg Story detailing the recent surge of leveraged...
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BofA "Finds" Capital Calculation Math Error, Halts Capital Action Plan, $4...
Just weeks after the Fed signed off on CCAR and ackowledged how great the US banking system is, Bank of America (after being slapped with another $13bn RMBS suit demand) has ackowledged things are not...
View ArticleThe Sum Does Not Equal The Parts: China Provincial GDP Signals Sharper Slowdown
First-quarter growth in almost all Chinese provinces was below their annual targets, according to local media, with the most concerning data from resource-dependent and manufacturing-heavy provinces...
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Why India Will Soon Outpace China
On the face of it, the title of this article will seem absurd to many. While China's economic growth has slowed, it's still running at a brisk 7.4% annual rate. Moreover, the Chinese government seems...
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Ukraine Just Issued $1 Billion Bonds Backed By The US Taxpayer
The bailout floodgates are open and the US taxpayer is footing the bill once again - whether through IMF loans or more directly. Today saw Ukraine issue $1 Billion 5-Year Notes at a stunningly low risk...
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Credit Mania Update – The Chase for CCC-Rated Bonds
Despite the plethora of talking heads proclaiming credit markets as awesomely supportive of stocks - High-Yield bond spreads are flashing red... But that's not stopping investors piling into the worst...
View ArticleThe (Other) Truth About The Financial Crisis: 10 "Geithner-Sized" Myths Exposed
Excerpted from Toxic bankers, captive regulators: Everything you think about the housing market is wrong; authored by Jennifer Taub, originally posted at The Salon,After the crisis, many expected that...
View ArticleFrontrunning: June 3
At least 74 dead in crashes similar to those GM linked to faulty switches (Reuters)Obama Calls for $1 Billion Europe Security Fund; Will Increase U.S. Military Presence in Eastern Europe (WSJ)Euro...
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Putin Fires Warning Shot - Russia May Bar Firms Using Foreign Banks
With the cease-fire on shaky ground in Ukraine, and the ongoing proxy war between the US and Russia growing in intensity (once again ignited in Syria); it seems Putin has fired a significant warning...
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Internet Censorship Explodes - Google Receives 250,000 "Removal" Requests
Submitted by Michael Krieger of Liberty Blitzkrieg blog,In the walls of the cubicle there were three orifices. To the right of the speakwrite, a small pneumatic tube for written messages, to the left,...
View ArticleFrontrunning: July 17
Bubble Paranoia Setting in as S&P 500 Surge Stirs Angst (BBG)But how will math PhDs determine "fair value" - Wall Street Techs Take Secrets to Next Job at Their Peril (BBG)U.S., EU Escalate Russia...
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Weekly Wrap - 7/18/2014
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These Are The 10 "Liquidity-Providing" HFT Firms The SEC Is Investigating
Despite a full court press of PR to confirm HFT firms are friends of retail investors and do no wrong; the SEC, it appears, sees it differently. While Mary White has confidently explained the market is...
View ArticleFrontrunning: July 25
Argentine holdout NML says government "choosing" to default (Reuters)Crunch time for Gaza truce talks as death toll passes 800 (Reuters)Don’t Tell Anybody About This Story on HFT Power Jump Trading...
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Settlements and Fines from TBTF Institutions Since the Crisis
Let's take a look at the amount of settlements/fines from various banks and financial institutions around the world since the crisis. There are probably a lot of settlements/fines I have missed,...
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