Payday Loan Apps Cost New Yorkers $500 Million Plus, New Study Estimates
A new study estimates the cost of payday loans in New York as the state debates tightening rules on these fintechs beyond existing usury laws
Read more...Category Archives: Banking industry
House Speaker Johnson Threatens to Defund Federal Courts
The Trump war against the judiciary reaches a new fevered pitch, with Speaker Johnson threatening Federal court funding.
Read more...DOGE Taketh Away From the Many as Trump Pays Off Crypto Bros With New “Strategic” Fund, Above All, Crypto Czar David Sacks
We warned that crypto was closely aligned with criminal activity. The open grift of the new “strategic” Trump fund proves that case.
Read more...Jane D’Arista on How the Failure of Global Finance Is Systemic
Jane D’Arista describes the internationalization of finance and how is has produced not just crises but fundamental economic distortions
Read more...New Suit Seeks Clawback of >$4 Billion of Fines and Insider Trading Profits from TD Bank Executives Earned While Running Decade+ Massive Money Laundering Schemes
TD Bank engaged in over a decade of criminal misconduct. A new suit seeks to make its board and executives pay.
Read more...The Execution of the CFPB: Capitalism Survives Another Attempt to Save It
A discussion of Elizabeth Warren’s naivete about the predatory nature of capitalism.
Read more...Artificial Intelligence and Financial Stability
On the high odds of winding up with the Peter Principle of AI implementation in financial institutions, and what to do to prevent that.
Read more...How Climate Change and Widespread Unaffordable Home Insurance Will Wreck Property Values
The death spiral of home insurance in climate afflicted areas has begun. The will and means to tackle underlying issues are sorely wanting
Read more...New York Times Defends Mexican Cartels Because US Economy
The New York Times sinks to a new low in defending Mexican cartels because they are too intertwined in US economic activity.
Read more...Michael Hudson: Trump’s Balance-of-Payments War on Mexico, and the Whole World
Why US trade and economic threats against Mexico could trigger a financial/currency crisis that may propagate across the Global South
Read more...mBridge, a Bank of International Settlements Project Hyped by BRICS Fans as a Way to Evade Sanctions, Shut Down
Our debunking the hype of the purported BRICS payment potential of a BIS project, mBridge, has proven to be true, and then some.
Read more...James Galbraith: How the Fed Became Less Powerful Despite Weakened Congressional Oversight
Fifty years ago the actions of the Fed mattered. Today, as far the aggregate measures of America’s domestic economy go, they do not.
Read more...This Week’s Unholy Mix of Drought, Wind, and Fire in Southern California: A Warning of an Accelerating Insurance Crisis in Climate-Risk Areas?
More and more homeowners are understandably worried about what insurance increases might look like in the face of intensifying climate risks.
Read more...China’s Government Bond Market Sounding Loud Deflationary Alarm. Is the Japanification China Has Warded Off Finally Arriving?
China’s investors are in freakout mode about deflation risks. Can its government turn the fundamentals around?
Read more...The One-in-a-Thousand-Day Problem
AI’s ability to handle complexity and respond rapidly means future crises are likely to be much more sudden and vicious than those we have experienced so far.
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