"Dimon argues that the current capital standards are restraining lending and impairing economic growth, yet he also points out that JPMorgan bought back $26 billion in stock over the past five years. If JPMorgan really had demand for additional loans from creditworthy borrowers, why did it turn those customers away and instead choose to buy back its stock?"
The former Goldman Sachs Group Inc. executive who is the top White House economic adviser told lawmakers he could support legislation breaking up the largest U.S. banks, according to people familiar with the matter, a development that bolsters congressional efforts to reinstate the Depression-era Glass-Steagall law.
As Europe's Core population collapses (and economic activity with it), the Euro and ECB seem to be serving a select few at the expense of the majority. The imbalances and distortions will only grow as the attempts to mask who the Euro and ECB truly serve continue. What little vitality exists is being transfused to prop up the few.
For a country that is on the brink of a gargantuan public bailout of its toxic-loan riddled banking sector, or failing that, a full-blown financial crisis that could bring down the European financial system, things are eerily quiet in Italy these days. It’s almost as if the more serious the crisis gets, the less we hear about it — otherwise, investors and voters might get spooked. And elections are coming up.
European stocks are modestly in the green as gains in banks and oil companies offset declines in miners. Asian stocks and S&P futures rise with Emerging-market stocks extending their longest winning streak since August on the back of the 5th consecutive daily drop in the USD. The euro rose to the strongest in six weeks after a French presidential debate eased market concerns about a possible Le Pen win.
"...the 'left' has accepted the neoconservative line that those who advocate peace with Russia, other than on US imposed terms, are traitors to America, including the President of the United States... We have reached the point that no dissent from hating Russia is possible. This leaves war as the only option."
A Greek return address was on the envelope which exploded in Paris, Greece's public order minister said in Athens. "French authorities just informed us that it was mailed from Greece," Nikos Toskas told Ant1 Television.
"We still have the rage. We sent the package to Germany's finance minister as part of the second act of Nemesis Plan," the militant Greek group Conspiracy of Fire Cells said in a statement on the internet. "Nothing is over, everything continues."
Puerto Rico bonds are in the midst of the biggest three-day rout since April 2016, when island officials advanced a moratorium bill that paved the way for the first default on its general-obligation debt.