Federal Deposit Insurance Corporation

The 'Real' Peak Complacency

"Stocks are at record highs while volatility is at a record low. Which is another way of saying that investors aren’t as worried as they probably should be about the coming year... But there’s another area of Peak Complacency that is neither natural nor benign. And that’s cyberspace... "

Meet The Next Fed Chair: The Definitive Cheat Sheet

With the race for the next Fed chair in its final stretch, the three frontrunners to replace Yellen are Kevin Warsh, Jerome Powell, Gary Cohn. But what are their views? Here, courtesy of BofA is the definitive cheat sheet profiling the next Fed chair, whoever that may be.

Frontrunning: August 18

  • Hunt for Driver Widens as Second Attack Hits Spain, Five Suspects Are Killed (WSJ)
  • FT loses it over bitcoin's relentless rise (FT)
  • China Codifies a Crackdown on ‘Irrational’ Outbound Investment (BBG)
  • U.S. Navy, citing poor seamanship, removes commanders of warship in deadly crash (Reuters)
  • ACLU Will No Longer Defend Hate Groups Protesting With Firearms (WSJ)

Europe's Banking Dysfunction Worsens

Investors who think that Europe is close to adopting an effective approach to dealing with failing banks may want to think again....

Why Is Loan Growth Collapsing: Goldman Has An Answer

"we believe the current C&I slowdown reflects payback from credit facility usage by commodities firms, many of which began drawing upon credit lines in late 2015 as financial conditions tightened and the debt issuance window closed" - Goldman

Caterpillar Accused Of Tax, Accounting Fraud In Report; Stock Slides

The mystery of last week's Caterpillar office raid by various US government agencies may have been resolved, after the NYT reported overnight that a report commissioned by the government, written by an accounting professor at the Tuck School of Business at Dartmouth, has accused the heavy-equipment maker of carrying out tax and accounting fraud.

Federal Officials Are Searching Caterpillar's Corporate Headquarters; Stock Plunges

Federal officials have executed search warrants at three Caterpillar, Inc. facilities in the Tri-County Area — including the corporate headquarters — Thursday morning. Company officials confirmed the presence in a statement without specifying which agency was performing the search or what the search was in regard to.

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.