By Delusional Economics, who is horrified at the state of economic commentary in Australia and is determined to cleanse the daily flow of vested interests propaganda to produce a balanced counterpoint. Cross posted from <a href="http://www.macrobusiness.com.au/2012/04/europes-lunatics-rise/">MacroBusiness.
And so the black cygnets scuttle from the shadows again. Over the weekend, Angela Merkel’s Christian Democrats suffered an...Michael Olenick: WhaleMu – JP Morgan’s Next Surprise?
By Michael Olenick, creator of FindtheFraud, a crowd sourced foreclosure document review system (still in alpha). You can follow him on Twitter at @michael_olenick or read his blog, Seeing Through Data
In an admittedly strange twist of timing JP Morgan, the same JP Morgan that just announced a surprise $2 billion loss...
Michael Hudson: Paul Krugman’s Economic Blinders
By Michael Hudson, a research professor of Economics at University of Missouri, Kansas City and a research associate at the Levy Economics Institute of Bard College. His new book summarizing his economic theories, “The Bubble and Beyond,” will be available in a few weeks on Amazon.
Paul Krugman is widely appreciated for his New York...
Occupy the SEC to Jamie Dimon: We Told You So
By Occupy the SEC
Jamie Dimon’s plan to enfeeble the Dodd-Frank reforms, specifically the Volcker rule, has blown up spectacularly.
JP Morgan Loss Bomb Confirms That It’s Time to Kill VaR
One of the amusing bits of the hastily arranged JP Morgan conference call on its $2 billion and growing "hedge" losses and related first quarter earning release was the way the heretofore loud and proud bank was revealed to have feet of clay on the risk management front.
Mirable Dictu! Moody’s to Adjust Bank Ratings Downward for Regulatory Arbitrage
It's hard to imagine anyone will take tough-sounding stances by ratings agencies seriously, but Moody's, in a chat with the Financial Times, says it has (finally) taken notice of how banks play games with regulatory capital requirements.
Jamie Dimon Misrepresented “London Whale” Risks, Admits to $2+ Billion Loss Plus Risk Management Black Eye
As readers likely know by now, Jamie Dimon hastily arranged an after hours conference call today, in which he admitted to $2 billion in losses in the last six weeks from a trade by the "London Whale", Bruno Michel Iksil in the bank's Chief Investment Office, with as much as another potential $1 billion...
Michael Hudson on Greenspan’s Hackery
This is a short clip and I am sure you'll enjoy it.
Quelle Surprise! Fed Defends Incompetent Bank Management Against Investors
Reader Hecht pointed out a new piece by Steven Davidoff at the New York Times' Dealbook, illustrating the lengths to which the Fed will go to defend incumbent bank managements.
