The systemic threats to the U.S. financial system were not remedied when Congress passed the watered-down Dodd-Frank financial reform legislation in 2010. While that has been evident with each Federal Reserve bailout of the mega banks and their derivative counterparties, the threat has now gained increased urgency for Congress to confront as a result of a new academic study. A team of four highly-credentialed academics at four separate universities present compelling evidence that one of the four largest U.S. banks, with “assets above $1 trillion,” could be at risk of a bank run.
Academic Study Finds that One of the Four Largest U.S. Banks Could Be at Risk of a Bank Run
Tag: Big Banks
Half of America’s banks are potentially insolvent – this is how a credit crunch begins
The twin crashes in US commercial real estate and the US bond market have collided with $9 trillion uninsured deposits in the American banking system. Such deposits can vanish in an afternoon in the cyber age.
Half of America’s banks are potentially insolvent – this is how a credit crunch begins
French Radical Protests: Can the Sinister Fascist Traits of Capitalism be Overcome?
President Macron is not a king but a pawn of global finance
The current tenant of the Elysee Palace has been called by NUPES, the left coalition opposition in France, a President-King. To do so is to give him a bigger role and more power than what he has. In reality, Macron is just one of the numerous figure heads of the billionaire class that meets in Davos once a year. The power resides there, concentrated, often anonymous and always brutal in a masquerade of do-gooders. In Davos, the financial Masters of the Universe, posturing as philanthropists, have been in reality jealously protecting the complex Gordian Knot that is global capitalism. Perhaps France’s radical protesters, in their quasi insurrection form, are trying to emulate Alexander the Great by putting this giant Gordian Knot to the sword!
French Radical Protests: Can the Sinister Fascist Traits of Capitalism be Overcome?
US government bailout of Silicon Valley and banks is $300B gift to rich oligarchs
The US Federal Reserve printed $300 billion in a week to save collapsing banks and bail out Silicon Valley oligarchs. 93% of Silicon Valley Bank’s deposits were uninsured, over the FDIC limit of $250,000, but the government still paid them. 56% of SVB’s loans went to venture capitalist and private equity firms.
US government bailout of Silicon Valley and banks is $300B gift to rich oligarchs
Smedley Butler on Interventionism
Excerpt from a speech delivered in 1933, by Major General Smedley Butler, USMC.
War is just a racket. A racket is best described, I believe, as something that is not what it seems to the majority of people. Only a small inside group knows what it is about. It is conducted for the benefit of the very few at the expense of the masses.
Smedley Butler on Interventionism
Related:
“War Is A Racket” By Maj. Gen. Smedley D. Butler, Read By Jon Gold
Michael Hudson: Why the US banking system is breaking up
Economist Michael Hudson responds to the collapse of Silicon Valley Bank, and explains the similarities with the 2008 financial crash and the savings and loan crisis of the 1980s.
Michael Hudson: Why the US banking system is breaking up
The Bipartisanship Racket: Fellow Centrists Warn No Labels 2024 Bid Would Just Hurt Biden
JEEZ, can’t we all just get along? Can’t we be civilized? Can’t we reach across the aisle, find common ground and get things done? Can’t we have a new Morning in America as clubby and chipper as MSNBC’s daily gabfest, “Morning Joe”?
The Bipartisanship Racket
Related:
Fellow Centrists Warn No Labels 2024 Bid Would Just Hurt Biden
Yay! Another party to support the “bipartisan consensus” on Ukraine and China! /sarcasm (the yellow is for piss)
MLK Day Special: Class Struggle and Dr Martin Luther King Jr.
The US claims to honour his memory, even as it defiles his dreams.
MLK Day Special: Class Struggle and Dr Martin Luther King Jr.
US covert program fuels Sinaloa Chapo violence
Forget cannabis. Here are 2 banking provisions that did make the NDAA.
Forget cannabis. Here are 2 banking provisions that did make the NDAA.
Some banks have instituted policies making it easier for second-chance workers to get hired. JPMorgan Chase years ago removed all questions about criminal backgrounds from job applications and established a policy center to help former criminals find jobs.
It expanded its effort to help ex-offenders return to the workforce last year, partnering with nonprofits to connect people with arrest or conviction histories to in-demand jobs. CEO Jamie Dimon also agreed to co-chair the Second Chance Business Coalition encompassing 29 member companies.
The bank hired 4,300 people with criminal records last year, Nan Gibson, executive director for public policy and corporate responsibility at the JPMorgan Chase Policy Center, told American Banker. That’s more than double the bank’s 2,100 second-chance hires from 2020.
H/ T: Judge Napolitano
Related:
Ms. Cat’s Chronicles 
You must be logged in to post a comment.