Deutsche Bank shares tumbled as much as 16 percent on Friday after the cost of insuring the financial institution’s debt against default risks increased to the highest levels in about four years. The company’s five-year credit default swaps (CDS), a type of default insurance for bondholders, surged above 220 basis points, up from 142 basis…
Silicon Valley Bank and the Soft Pivot of Our Weak-Kneed Fed
March 23, 2023
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bank collapsebanking crisisFDICFederal Reservefinancial crisisOpinionquatitative easingSilicon Valley Bank CollapseU.S. economyViewpoints
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Commentary Old habits die hard for the folks over at the Federal Reserve, who immediately rung in the 2023 financial crisis with what will in due time be recalled as the fifth round of quantitative easing, the Fed’s preferred term for monetary expansion. It’s now apparent that the Fed currently finds itself between a proverbial…
PREMIERING NOW: What Does San Francisco’s Reparations Plan Mean for Black People? | The Larry Elder Show | EP. 141
March 23, 2023
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banking crisisBlack AmericanEpochTVLive VideosreparationsSan FranciscoSilicon Valley BankslaveryThe Larry Elder ShowVideo
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The city of San Francisco is considering giving $5 million to each black descendant of slaves who lives in the city. They also want to allow blacks to purchase a home for one dollar, even though the average price of a home in the city is over $1 million. Additionally, they want to provide $97,000…
What Does San Francisco’s Reparations Plan Mean for Black People? | The Larry Elder Show | EP. 141
March 23, 2023
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banking crisisBlack AmericanEpochTVLive VideosreparationsSan FranciscoSilicon Valley BankslaveryThe Larry Elder ShowVideo
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The city of San Francisco is considering giving $5 million to each black descendant of slaves who lives in the city. They also want to allow blacks to purchase a home for one dollar, even though the average price of a home in the city is over $1 million. Additionally, they want to provide $97,000…
US Banking System Is ‘Sound and Resilient,’ Says Fed Chair Powell
The U.S. banking system is “sound and resilient” as it maintains strong capital and liquidity conditions, Federal Reserve Chair Jerome Powell told reporters after the policy-making meeting of the Federal Open Market Committee (FOMC). Powell highlighted that the central bank took decisive actions with the Treasury Department and the Federal Deposit Insurance Corporation (FDIC) in…
Credit Suisse Taken Down by Endless Stream of Scandals
The collapse of Credit Suisse, the Swiss banking giant that ended its 167-year history on Monday morning in a state-sponsored takeover by rival bank UBS, was not the result of mismanaging liquidity or interest rate risk like Silicon Valley Bank, but rather death by a thousand self-inflicted cuts. The past decade featured an endless parade…
The Fed Is Running Two Policies at Once
March 20, 2023
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banking crisisBusiness & MarketsBusiness ColumnistsCredit Suissefinancial crisisFirst Republicinflationinterest ratesOpinionquantitative easingU.S. economyUBSViewpointszero interest rates
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Commentary Last week was a grim reminder that the economic chaos of the lockdown period is far from over. Markets discovered that several major banks, which hardly anyone truly suspected were in trouble, faced closure and quick rescue for fear of contagion. The trouble was the same in each case: too many assets held in…
The US Banking System Was Destroyed by QE … and Negative Rates Killed It
Commentary Every time there’s a banking crisis, some scratch their heads and wonder, how could this happen? Surely it must be greed, bad risk management, or a lack of regulation? More intervention should solve it. However, all those excuses miss the most critical point: The U.S. banking system was destroyed by design, and the big…
LIVE NOW: NTD Business (March 17): Banks Borrow Billions to Maintain Liquidity; Macron Raises Retirement Age in France
Banks’ emergency borrowing from the Fed hits a new record high, as they try to shore up their liquidity. Should you be worried? French President Emmanuel Macron bypasses Parliament to raise his nation’s retirement age—causing millions to protest and putting his own career at risk. Factually correct stories allegedly being censored. New Twitter Files show…
NTD Business (March 17): Banks Borrow Billions to Maintain Liquidity; Macron Raises Retirement Age in France
Banks’ emergency borrowing from the Fed hits a new record high, as they try to shore up their liquidity. Should you be worried? French President Emmanuel Macron bypasses Parliament to raise his nation’s retirement age—causing millions to protest and putting his own career at risk. Factually correct stories are allegedly being censored. New Twitter Files…
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