What is market monetarism? People have asked me for a summary of market monetarist ideas.
Or a “model” of some sort. Austerity Plans Are Based on the Wrong Diagnosis of the Wrong Problem. January 4, 2012 | Like this article?
Join our email list: Stay up to date with the latest headlines via email. Even if European politicians ‘get their acts together,’ the eurozone crisis will not be solved by a new ‘ Fiscal Compact’ obsessed with austerity, i.e. tight rules for all member states on their spending. The agreement, which is intended to save the single currency, is not a “fiscal” anything, since that word usually refers to government spending. And it won’t work. Secret Fed Loans Gave Banks Undisclosed $13B. The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret.
Now, the rest of the world can see what it was missing. The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didn’t mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy. And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates, Bloomberg Markets magazine reports in its January issue. The Absolute Moron’s Guide to the Euro Debt Crisis. Every day seems to bring another forecast of impending economic doom in Europe.
Loose lips Twitter at Goldman Sachs - National entrepreneur. Goldman Sachs, the Wall Street Bank and Federal Reserve partner, became a household name on Main Street in the fall of 2008 with its participation in the global financial meltdown.
And while the firm had been largely categorized a behemoth monolith, GSElevator on Twitter is giving the global bank a bit more color with tweeted glimpses of corporate culture via conversations of workers who don't take the stairs. The account, which has been up and running since August, is reportedly run by an anonymous middle or above-level banker who has " long been cynical of the industry and the people that build their entire sense of self around it," according to a New York Times story.
By looks of tweets on the account, GSElevator's cynicism is well founded as hubris, misogyny, and middle- and working-class contempt are common themes. Analyst #1: She lives in Harlem. Analyst #2: What the f*ck. A#1 (on protesters): I was going to make a sign... George carlin Bankers. Ed Show: SuperRich Income Increased over 240% in Last 30 years, Workers 0% Is the world too big to fail? The democracy uprising in the Arab world has been a spectacular display of courage, dedication, and commitment by popular forces - coinciding, fortuitously, with a remarkable uprising of tens of thousands in support of working people and democracy in Madison, Wisconsin, and other US cities.
If the trajectories of revolt in Cairo and Madison intersected, however, they were headed in opposite directions: in Cairo toward gaining elementary rights denied by the dictatorship, in Madison towards defending rights that had been won in long and hard struggles and are now under severe attack. Each is a microcosm of tendencies in global society, following varied courses. Despite all the changes since, there is every reason to suppose that today's policy-makers basically adhere to the judgment of President Franklin Delano Roosevelt's influential advisor A.A. Depository Trust Company (DTC) Definition. What is Depository Trust Company. Depository Trust & Clearing Corporation.
In 2011, DTCC settled the vast majority of securities transactions in the United States and close to $1.7 quadrillion in value worldwide.
DTCC has operating facilities in the New York metropolitan area, and at multiple locations in and outside the U.S. History Established in 1973, The Depository Trust Company (DTC) was created to alleviate the rising volumes of paperwork and the lack of security that developed after rapid growth in the volume of transactions in the U.S. securities industry in the late 1960s. Before DTC and NSCC were formed, brokers physically exchanged certificates, employing hundreds of messengers to carry certificates and checks.
The mechanisms brokers used to transfer securities and keep records relied heavily on pen and paper. To deal with this large volume, which was overwhelming brokerage firms, the stock exchanges were forced to close every week (they chose every Wednesday), and trading hours were shortened on other days of the week. Sharing/Gift Economy. The global economy's corporate crime wave. The world is drowning in corporate fraud, and the problems are probably greatest in rich countries – those with supposedly "good governance".
Poor-country governments probably accept more bribes and commit more offenses, but it is rich countries that host the global companies that carry out the largest offenses. Money talks, and it is corrupting politics and markets all over the world. Hardly a day passes without a new story of malfeasance. Every Wall Street firm has paid significant fines during the past decade for phony accounting, insider trading, securities fraud, Ponzi schemes, or outright embezzlement by CEOs. A massive insider-trading ring is currently on trial in New York, and has implicated some leading financial-industry figures.
Federal Reserve Banks.