Federal Deposit Insurance Corporation

Mnuchin Dashes Banker Hopes That Prop Trading Is Coming Back

In follow up remarks to lawmakers, Steven Mnuchin said even banking units that lack a government backstop should be restricted from making speculative trades: "a legal distinction between the insured and non-insured entity is an important factor in eliminating risky activities within the institution that has” insured deposits.

Is Trump About To Hammer The Federal Reserve?

The Trump mandate on “America First” is being misconstrued as an isolationist policy but is in fact the cover for integrating America into the emerging multilateral.

Nomi Prins On The Goldmanization Of President Trump

In his Inaugural Address, having nominated the wealthiest cabinet in American history, he proclaimed, “For too long, a small group in our nation's capital has reaped the rewards of government.”  Under Trump, an even smaller group will flourish -- in particular, a cadre of former Goldman Sachs executives. To put the matter bluntly, two of them (along with the Federal Reserve) are likely to control our economy and financial system in the years to come.

Dave Collum's 2016 Year In Review - "And Then Things Got Really Weird..."

"Markets don’t have a purpose any more - they just reflect whatever central planners want them to. Why wouldn’t it lead to the biggest collapse? My strategy doesn’t require that I’m right about the likelihood of that scenario. Logic dictates to me that it’s inevitable..."

Chinese Military Said To Hack FDIC For Years, Including Computer Of Sheila Bair

While the Russian government allegedly has a grudge on US voters and, according to the serious press, orchestrated the hacking of the US elections, China's interests are focused more on America's money. In the latest such breach, according to Reuters, the FBI is investigating how Chinese military hackers infiltrated computers at the Federal Deposit Insurance Corporation for several years beginning in 2010.

Trump's Bait And Switch?

Within the political-financial establishment, the more things change, the more, it seems, they stay the same. As Trump moves ahead with his cabinet picks, several of them already stand out in a Mellon-esque fashion for their staggering wealth, their legal entanglements, and the policies they seem ready to support that sound like eerie throwbacks to the age of Harding.

Waking Up In Hillary Clinton's America

With less than two weeks to go before E-day -- despite the Trumptilian upheaval of the last year -- the high probability of a Clinton win means the establishment remains intact. When we awaken on November 9th, it will undoubtedly be dawn in Hillary Clinton’s America and that potentially means four years of an economic dystopia that will (as would Donald Trump’s version of the same) leave many Americans rightfully anxious about their economic futures.