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Banks As Socialist Collectives - Bloomberg - Matt Levine
If a company pays workers a medium (or, sure, large) amount of money in mediocre years, and vastly more money in great years, then that is I think a decent sign that it is run partially for the benefit of the workers—that the workers think of themselves as residual claimants on the firm, entitled to help themselves out of the profits in good years. (Of course in bad years the employees still get paid—still get bonuses, even—so it is not a perfect measure.) A Residual Marx Ratio that tracks, say,...
capitalism  socialism  marx  banks  finance  economics  labor 
5 days ago by max_read
Research datasets | Bank of England
This annual survey poses questions on people’s balance sheets and spending. It is carried out by NMG Consulting on our behalf.
data  spending  banks  inflation 
15 days ago by paulbradshaw
Banking's legacy of dark code
This piece discusses the hundreds of millions of lines of computer code, a lot of it written in older languages like COBOL and Fortran, that runs our banking systems. They've been patched, updated, and added to over the decades. They were once systems people understood; now they are systems people used to understand; soon, they will be systems no one has ever understood.
banks  old  code  computing  risks 
17 days ago by net.wars
Banks Forced Into Qatar-Saudi Feud
JPMorgan, Chase pull out of Qatar bond release, citing Saudi pressure
Gulf  Saudiarabia  Saudi  Qatar  UAE  Economy  Banks 
24 days ago by elijahz

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