Yes, The Fed’s FOMC announced another 25 basis point increase at the last Fed meeting for the year) while decreasing their outlook for next year. Fed officials tweaked their forward guidance to say “some” further gradual rate increases will still be needed…
Fed Raises Interest Rates, Stocks Plunge…
The Fed Is Panicking by Nomi Prins…
Saudi Arabia Halts Aramco Public Listing, Disbanding Advisers…
Saudi Arabia’s part flotation of its national oil company Aramco has been halted, sources told Reuters news agency, killing what would have been the largest stock listing in history. The reversal of a cornerstone of Crown Prince Mohammed bin Salman’s economic reform policy spells uncertainty for the rest of his programme, dubbed “Vision 2030”. Saudi […]
The Central Banking Heist Has Put the World at Risk…
“The 2008 financial crisis was the consequence of a loosely regulated banking system in which power was concentrated in the hands of too limited a cast of speculators,” Nomi Prins tell me. “And after the crisis, the way the US government and the Federal Reserve dealt with this corrupt and criminal banking system was to […]
Goldman Sachs Investment Banker Arrested on Insider Trading Charges…
A 37-year-old investment banker for Goldman Sachs was arrested Thursday on charges he used inside information on mergers for which the company was a financial adviser to garner more than $130,000 on stock trades. Woojae “Steve” Jung, 37, of San Francisco, was charged with six counts of securities fraud and one count of conspiracy, according […]
SEC Charges Elizabeth Holmes with ‘Massive Fraud’…
Fifth Third Bank to Acquire Chicago-Based MB Financial in $4.7B Deal…
Chicago-based MB Financial Inc. announced on Monday it would merge with Fifth Third Bancorp in a deal valued at $4.7 billion. The transaction will result in one of the region’s largest middle-market banks. MB Financial’s chief executive officer Mitch Feiger will serve as CEO for the Chicago area after the acquisition and two members of […]
My Kuroda! Not a Single Japanese 10-Year Bond Traded Tuesday…
The Bank of Japan has vacuumed up so much of the government bond market — in excess of 40 percent — that it’s left fewer securities for others to buy and sell. Some other buyers, such as pension funds and life insurers, also tend to follow buy-and-hold strategies. That’s the backdrop to Tuesday’s session, when […]
Mick Mulvaney Tells Employees CFPB Will No Longer ‘Push the Envelope’…
Acting Consumer Financial Protection Bureau Director Mick Mulvaney told the agency’s employees Tuesday that the agency no longer will “push the envelope” in policing private companies, suggesting in an agency-wide memo that he plans to reverse course from the one set out by departed director and Obama appointee Richard Cordray. “Simply put, the days of […]