The recklessness of the “too big to fail” banks almost doomed them the last time around, but apparently they still haven’t learned from their past mistakes. Today, the top 25 U.S. banks […]
Italian voters have embraced the global trend of rejecting the established world order, but the “no” vote on Sunday has plunged global financial markets into a state of utter chaos. The euro […]
The largest and most important bank in the largest and most important economy in Europe is imploding right in front of our eyes. Deutsche Bank is the 11th biggest bank on the […]
Do you remember when our politicians promised to do something about the “too big to fail” banks? Well, they didn’t, and now the chickens are coming home to roost. On Thursday, it […]
Over the last two trading days, European banks have lost 23 percent of their value. Let that number sink it for a bit. In just a two day stretch, nearly a quarter […]
Should central banks create money out of thin air and give it directly to governments and average citizens? If you can believe it, this is now under serious consideration. Since 2008, global […]
We just got more evidence that a major economic slowdown is underway here in the United States. Existing home sales were down a whopping 7.1 percent during the month of February, and […]
The Italian banking system is a “leaning tower” that truly could completely collapse at literally any moment. And as Italy’s banks begin to go down like dominoes, it is going to set […]
As bad as the month of January was for the global economy, the truth is that the rest of 2016 promises to be much worse. Layoffs are increasing at a pace that […]
Last time around it was subprime mortgages, but this time it is oil that is playing a starring role in a global financial crisis. Since the start of 2015, 42 North American […]
Did you know that 15 trillion dollars of global stock market wealth has been wiped out since last June? The worldwide financial crisis that began in the middle of last year is […]
The Royal Bank of Scotland is telling clients that 2016 is going to be a “cataclysmic year” and that they should “sell everything”. This sounds like something that you might hear from […]
Did you know that there are 5 “too big to fail” banks in the United States that each have exposure to derivatives contracts that is in excess of 30 trillion dollars? Overall, […]
If you have a bank account anywhere in Europe, you need to read this article. On January 1st, 2016, a new bail-in system will go into effect for all European banks. This […]
Americans have little confidence in most of their major institutions including Congress, the presidency, the Supreme Court, banks and organized religion, according to the latest Gallup poll. “Americans’ confidence in most major […]
Not only is banking not for everyone, accounts are inaccessible to about half of the world. People are too poor, live too far from a bank or don’t have the required documentation. […]
Are they expecting something to happen? As you will read about below, the European Union says that any nation within the EU that does not enact “bail-in” legislation within the next two […]
The absolutely stunning decision by the Swiss National Bank to decouple from the euro has triggered billions of dollars worth of losses all over the globe. Citigroup and Deutsche Bank both say […]
Former Bank of England governor Mervyn King has warned that British banks are too weak to weather another financial crisis, adding that government officials haven’t “got to the heart” of what went […]
Major banks across Europe, as well as the UK, US, and Japan, are at major risk should the Russian economy default, according to a new study by Capital Economics. The ING Group […]
The Department of Treasury is seeking to order survival kits for all of its employees who oversee the federal banking system, according to a new solicitation. The emergency supplies would be for […]
Cyber-criminals will trigger the next global financial crisis by making a major bank “disappear”, one of the UK’s leading finance chiefs has claimed. Mark Boleat, head of policy for the City of London, said cyber-criminals would go about “destroying bank records and changing the amounts people have in their accounts”, sending shockwaves through the financial system like a “neutron bomb”. People would find that their savings have been wiped out, their records deleted, and they would come up against “denials of service”, stopping them from accessing funds, Mr Boleat told The Sunday Telegraph.
The financial industry — indeed, most of the business world — works within a state of almost perpetual cybersiege at a level few consumers grasp. And the costs and dangers are growing for those who seek to protect their assets and their customers. “The constant barrage of attacks is real,” says J.
It’s bad enough that you don’t make any interest holding your money in a checking or savings account at the bank. But at least it’s safe, right? Not so much, as Federal Reserve Vice Chairman Stanley Fischer announced this month that instead of banks receiving bail-out money (from taxpayers) when they experience financial problems, they have now planned for a bail-in (by depositors and investors).