financial-crisis   439

« earlier    

The 30-Year Mortgage is an Intrinsically Toxic Product
Very interesting economic analysis of the 30 year mortgage.
banking  finance  financial-crisis 
january 2019 by mcherm
Adam Kotsko The Political Theology of Neoliberalism - state of nature
Neoliberals do rely on libertarian rhetoric, but libertarianism is basically neoliberalism for fools. When neoliberals are talking amongst themselves, they always acknowledge that a strong state is absolutely necessary to their agenda. This is because markets do not spontaneously arise in the absence of state interference, or in other words, markets are not natural. They must be artificially constructed, and so one way of defining neoliberalism is as a project to use state power to cultivate or create markets so that people will be forced to be free in the neoliberal sense.
neoliberalism  interview  quotes  hey-I-know-this-guy  to-write-about  fascism  political-economy  financial-crisis  capitalism  worldview 
october 2018 by Vaguery
As financial crisis shook the nation, Trump’s team saw payoff - POLITICO
Trump himself crowed about the investment opportunities that lay ahead on the eve of Wall Street collapse, heralded 10 years ago by Lehman Brothers' failure.
financial-crisis  trump 
september 2018 by daniel.zappala
In a crisis, sometimes you don’t tell the whole story | Financial Times
"As it happened, I had a lot of cash in my bank account, at Citibank. I was above the limit covered by US deposit insurance, so if Citi went bust, a once inconceivable event that I could now imagine, I would lose money for good.

At lunch hour I headed to Citi, planning to take out half my money and put it into an account at the Chase branch next door. That would double the money that I had insured.

We were in midtown Manhattan, surrounded by investment banking offices. At Citi, I found a long queue, all well-dressed Wall Streeters. They were doing the same as me. Next door, Chase was also full of anxious-looking bankers.

Once I reached the relationship officer, who was great, she told me that she and her opposite number at Chase had agreed a plan of action. I need not open an account at another bank.

Using bullet points, she asked if I was married, and had children. Then she opened accounts for each of my children in trust, and a joint account with my wife. In just a few minutes I had quadrupled my deposit insurance coverage. I was now exposed to Uncle Sam, not Citi. With a smile she told me she had been doing this all morning. Neither she nor her friend at Chase had ever had requests to do this until that week.

I was finding it a little hard to breathe. There was a bank run happening, in New York’s financial district. The people panicking were the Wall Streeters who best understood what was going on.

All I needed was to get a photographer to take a few shots of the well-dressed bankers queueing for their money, and write a caption explaining it.

We did not do this. Such a story on the FT’s front page might have been enough to push the system over the edge. Our readers went unwarned, and the system went without that final prod into panic.

Was this the right call? I think so. All our competitors also shunned any photos of Manhattan bank branches. The right to free speech does not give us right to shout fire in a crowded cinema; there was the risk of a fire, and we might have lit the spark by shouting about it."
financial-crisis  2008  ft  journalism 
september 2018 by arsyed
Why Aren’t Any Bankers in Prison for Causing the Financial Crisis? - The Atlantic
> The difficulties that government prosecutors face in cobbling together fraud cases against even the most nefarious executives illuminates the fact that, legally, corporations are big, fancy responsibility-diffusion mechanisms
banker  fraud  financial-crisis  criminal  justice  law 
december 2017 by floehopper

« earlier    

related tags

1%-rich-wealthy-billionaires-millionaires  2008  2012-presidential-elections  aca  activism  amusing  article  austerity  bailouts  banker  bankers-should-start-avoiding-lampposts-right-about-now  banking  banks  bas-eickhout  because-of-that-fair-trial-joke  bernie  bigger-than-just-that  bill-clinton-economy  billionaires  bitcoin  blood-in-the-streets-one-way-or-the-other  book  books  border-wall  brexit  bubble  budget  bush2-economy  business-culture  business  but-also-interesting  capitalism  central-bank  code  cold-war  community-detection-might-also-be-useful  competitions  complexology  connectedness  conservatives  consider:feature-selection  consider:network-patterns  consumerism  copula  copulas  corporate-powwr  corporatism  cracked  criminal  cultural-assumptions  cultural-dynamics  cultural-norms  culture  data-analysis  data-science  data  datasets  debt-ceiling  debt  delicious  democrat-bad  democrats  depression  deregulation  disintermediation-in-action  dodd-frank  econometrics  economics-us  economics  economy  employment-as-self-definition  employment  energy  entrepreneurship-as-pathology  eu  europe-fascism  europe  eurozone  experiment  exploration-and-exploitation  failure  fair-weather-bosses  fairness  fascism  fed  federal-reserve  finance  financial-engineering  financial-reform  financial-services  financial  forecasting  foreclosure  foxes-and-henhouses  fraud  ft  germany  goldman-sachs  google  gop-tax-plan-2017  government  greece  healthcare  hey-i-know-this-guy  high-speed-trading  history-writ-in-the-present  history  housing  i-tend-to-agree  inefficiency-is-a-resource  inequality  infighting  infrastructural-public-policy-problem  interesting  interview  italian  italiano  jeroen-dijsselbloem  jobs  journalism  justice  landscape  lavoce  law  lewis  lies-damn-lies-and-statistics  lies  lindsey_graham  machine-learning  macroeconomic  macroeconomics  mammoth  markets  matthew-stoller  maybe-not  middle-class  minsky  model  modeling  models-and-modes  models  money  multiobjective-optimization  music  nate-silver  neoliberalism  network-theory  network  networks  news  nlp  nudge-targets  obama-failures  obama-good  occupy-movement  occupy-wall-street  optimization  package  paper  papers  payments  pdf  pedagogy  peer-production  peer-to-peer  people-suck  performance-measure  physics  political-economy  politics  portfolio-optimization  portfolio  posttofacebook  poverty  power-laws  prediction  progressivism  prosecution  public-policy  quantitative-easing  quotes  r-project  race  rather-interesting  re-industrial  reading-material  reaganomics  rebellion  recession  reference  regulation-good  regulation  reiews  republicans  research  revolution-targets  risk-management  risk  science  searches  sequestration  shutdown  simulation  social  socialism  sociology  solutionism  startup-culture-must-die  statistics  stockmarkets  sustainability  tarp  tax-breaks-for-wealthy  tax-havens  tax-wealthy  taxes  taxing-rich  the-new-class-war  theory-and-practice-sitting-in-a-tree  this-ain't-disintermediation  thomas-piketty  tim-geithner  time-series  timothy-geithner  to-read  to-write-about  tony-judt  topic-models  trump-deregulation  trump-hostage-taker  trump-reckless  trump-swamp  trump  turkey  uk  united-states  urbanism  usa  venezuela  venture-capital  via-andrew-ducker  via-zoe-stavri  volkskrant  wall-street  war-in-our-time-alas  westminster  what-we-need-is-a-kind-of-non-prophet-economics  widgets  worklife  worldview 

Copy this bookmark: