
For a short time, it seemed as though big banks were about to be reined in under President Donald Trump.
But then Treasury Secretary Steven Mnuchin let the "crony capitalist" cat out of the bag.
By Money Morning Staff Reports, Money Morning -
For a short time, it seemed as though big banks were about to be reined in under President Donald Trump.
But then Treasury Secretary Steven Mnuchin let the "crony capitalist" cat out of the bag.
By Money Morning Staff Reports, Money Morning -
For a short time, it seemed as though big banks were about to be reined in under President Donald Trump.
But then Treasury Secretary Steven Mnuchin let the "crony capitalist" cat out of the bag.
By Casey Wilson, Associate Editor, Money Morning -
It's insider trading at its finest, and they are getting away with it...
By Shah Gilani, Chief Investment Strategist, Money Morning • @ShahGilani_TW -
By Shah Gilani, Chief Investment Strategist, Money Morning • @ShahGilani_TW -
By now we all know that Wells Fargo & Co., one of America's premier banking giants, got slapped with $185 million in fines to settle charges of widespread fraud.
Or was it a screw-up? Maybe management, compliance officers, risk monitors, and auditors simply failed to catch thousands of employees who happened to be engaged in a massive and likely criminal enterprise going back five years.
In fact, this was encouraged, by pervasive "trickle-down" bankster culture that puts a premium on profit above, well, everything else. Wells Fargo just managed to get caught at it.
The truth of this isn't pretty...
By Shah Gilani, Chief Investment Strategist, Money Morning • @ShahGilani_TW -
By Shah Gilani, Chief Investment Strategist, Money Morning • @ShahGilani_TW -
By Shah Gilani, Chief Investment Strategist, Money Morning • @ShahGilani_TW -
Common sense and self-preservation tell you not to tangle with wounded animals; you're liable to get bitten... or worse.
And when that animal happens to be, say, nearly all of the "Too Big to Fail" banks in the country, everyone can get hurt.
That's exactly what's happening now. As you'll see, it resembles nothing less than a hungry snake eating its own tail, or a financial catch-22.
They benefit from central bank support, but the central banks are dangerously raising their risk profile. They thrive on capitalism, but competition is killing them. They need smart regulation, but they're getting tough regulation instead.
These are all serious problems that, by accident and design, are setting the global economy up for a system shock that will rival the financial crisis of 2008.
Make no mistake, these banks need to be curbed for our good, but that needs to happen in an orderly, systemic fashion.
These banks need breaking up, but it can't happen like this...
By Shah Gilani, Chief Investment Strategist, Money Morning • @ShahGilani_TW -
Big banks' size and structural weaknesses are enough to push markets to the brink, but that's not all. How they're circumnavigating barriers to their profitability could ignite the next financial crisis.
By Shah Gilani, Chief Investment Strategist, Money Morning • @ShahGilani_TW -
Global powers increasingly rely on big banks to facilitate government borrowing, fund loans, and underwrite economic growth, among other things.
By Michael E. Lewitt, Global Credit Strategist, Money Morning • @MichaelELewitt -
By Shah Gilani, Chief Investment Strategist, Money Morning • @ShahGilani_TW -
Stocks have been on a tear. After looking weak in February, they've soared close to 13% in a matter of weeks.
So why does it all feel like a magic trick? Why isn't the market rally giving investors any solid feelings? Why is everyone so nervous?
I'll tell you what's going on, who's responsible, and what you need to do now. Let's get started...
By Keith Fitz-Gerald, Chief Investment Strategist, Money Map Report -
Many investors really start to study the markets this time of year in an effort to divine what's next for global markets and, by implication, their portfolios.
But for an accurate financial forecast, I turn to the world's top steak houses, which are known haunts for global traders anxious to blow off some steam and have a fabulous meal.
Today I'm going to talk about what's not"on the menu" - pardon the pun - and why. Then, I'll highlight an investment poised for profits as a result.
Here's what waiters can tell you that economics can't.
By Money Morning Staff Reports, Money Morning -
During last night's Democratic debate, Vermont Sen. Bernie Sanders said a few things about Wall Street that made us stop and think.
Whoa, we might actually agree with a politician about something.
Here's what Sanders had to say about Big Banks and their cronies on Capitol Hill...
By Tara Clarke, Associate Editor, Money Morning • @TaraKateClarke -
Last week, our nation's biggest banks lost a portion of an outrageous handout they've been garnishing from American taxpayers for the last 102 years.
This free handout is a ploy seldom covered by mainstream media - which, as we all know, is now generally loath to upset the powers that be.
It happened Tuesday, when Congress released a highway bill that uses surplus funds from the U.S. Federal Reserve to help pay for the legislation's $325 billion price tag.
By David Zeiler, Associate Editor, Money Morning • @DavidGZeiler -
The revolutionary potential of the Bitcoin blockchain - the technology underlying the digital currency - is what led nine of the world's big banks to join together to study ways to apply it to the global financial markets.
The new partnership will focus on exploring ways the big banks can use the Bitcoin blockchain to save time and money across a wide range of financial activities.
Here's what this partnership is planning - and what it means for Bitcoin...