The following is an excerpt of my much longer roundup of the many covert ways the government is bailing out the giant banks.Fraud As a Business ModelIf you stop and think for a moment, it is obvious that failing to prosecute fraud is a bailout.Nobel p…
Posts Tagged ‘jp morgan chase’
From the “Wealth of Nations” to the “Debt of Nations”
December 2nd, 2010 |
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As everyone from Paul Krugman to Simon Johnson has noted, the banks are so big and politically powerful that they have bought the politicians and captured the regulators (and see this).But it’s not just a question of regulatory capture and corruption. …
Sempra, RBS sell part of JV to Noble Group: Update
September 20th, 2010 |
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Sempra Energy (SRE.N) and The Royal Bank of Scotland (RBS.L) agreed to sell the retail commodity marketing operations of their joint venture to Noble Group (NOBG.SI) for US$317 million ($422.7 million) in cash.
The deal for Sempra Energy Solutions follows Sempra and RBS’ July sale of its global metals and oil business, as well as its European natural gas and power business for US$1.6 billion to JP Morgan Chase & Co.
If We Broke Up Standard Oil, We Can Break Up the Giant Banks
May 1st, 2010 |
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If we broke up standard oil, we can break up the giant banks.Says who?Senator Ted Kaufman (interviewed recently by The American Prospect’s Tim Fernholz): You and Senator Sherrod Brown have proposed an amendment that would cap the size of the largest ba…
RBI hikes CRR; repo rates unchanged
January 29th, 2010 |
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New Delhi, Jan 29 (ANI): The Reserve Bank of India (RBI) in its monetary policy review on Friday, hiked the Cash Reserve Ratio (CRR) by 75 basis points to 5.75 percent in a bid to hold excess liquidity to combat the rising inflation. The repo and reverse repo rates remained unchanged.
The increase in CRR will [...]
Andy Ostroy: Hey Republicans, Can You Answer These Questions Truthfully About the “Obama Economy?”
July 21st, 2009 |
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The Republican party’s love affair with former President Ronald Reagan took on Mark Sanford-like Argentinian proportions after eight miserable years of George Bush. To…
Mike Lux: A Simple Test
July 18th, 2009 |
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I have always had a simple test for any public policy: who does it benefit the most, and who does it benefit first? If the…
Keeping up with the Goldmans
July 15th, 2009 |
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Goldman Sachs’s record profits owe more to lack of competition than market recovery
TO THE survivors, the spoils. That is the cry going up at Goldman Sachs after it chalked up recession-defying—nay, record-breaking—quarterly profits on Tuesday July 14th. Minting more than $3 billion in as many months, so soon after its own near-death experience in the wake of Lehman Brothers’ demise, will enhance Goldman’s reputation as Wall Street’s overachiever. But it will also strike some as faintly obscene given the scale of public support needed to keep the firm and its peers from buckling last year.
The first half of 2009 was fertile for investment bankers as markets rebounded and companies (not least banks themselves) rushed to raise debt and equity. But none of the banks still due to report, not even a resurgent JP Morgan Chase, is expected to come close to Goldman’s blow-out performance. Having incurred smaller losses than rivals, it is still prepared to deploy risk capital where others fear to tread. …