Too Big To Fail

How Dick Durbin Costs Consumers Billions

Over six years after Dodd-Frank was signed into law, it is clear that the only ones who benefited from the Durbin Amendment have been big box chains like Wal-Mart and Home Depot. It cost consumers, on the other hand, literally billions of dollars a year. With Donald Trump taking office this month, and with all signs pointing to Dodd-Frank changes on the horizon, eliminating the Durbin Amendment should be a top priority.

Artificial Intelligence: Putting The 'AI' In Fail

With 'the internet' no longer a credible vehicle for Silicon Valley’s wild fantasies and intellectual bullying of other industries - the internet clearly isn’t working for people - 'AI' has taken its place. Almost everything you read about AI is fake news...

Frontrunning: December 14

  • Countdown to first Fed hike in a year under way, but focus shifting to 2017 (Reuters)
  • What to Expect From the Fed: Decision-Day Guide (BBG)
  • Investors Expect Fed Rate Rise, Seek Clues on Next Step (WSJ)
  • What ceasefire? Aleppo evacuation delayed (Reuters); Aleppo Fighting Resumes Hours After Cease-Fire Deal (WSJ)
  • Too big to fail: China maps out its Trump strategy (Reuters)

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.

Can An OPEC Deal Save Venezuelan Oil From Total Collapse?

With the nation's currency in full-fledged hyperinflationary collapse, OilPrice.com's Nick Cunningham notes that at times it seems that Venezuela’s economic crisis cannot get any worse. Food shortages, electricity blackouts, and scarce medical supplies have created a humanitarian disaster in Venezuela. However, with each passing month the situation deteriorates, and the crisis appears to be entering a dangerous new phase.

Frontrunning: November 17

  • Dollar halts charge as bashed bonds steady (Reuters)
  • BOJ Fires Warning at Bond Market With Unlimited Buying Plan (BBG)
  • Trump Flouts Traditions Heading Into an Office Defined by Them (BBG)
  • Mr. Hedge Fund Goes to Washington, Looking for Ally in Trump (BBG)
  • Donald Trump’s Son-in-Law, Jared Kushner, Could Get Key White House Role (WSJ)

Fed's Kashkari Releases Plan To End "Too Big To Fail", Compares Banks To Terrorists

In the latest reminder that 7 years after the financial crisis, the US banking system still remains a systemic risk, Minneapolis Fed President Neel Kashkari today released four-step plan to end too-big-to-fail problem. The reason for the proposal: America's "biggest banks continue to pose a significant, ongoing risk to our economy" and "One analogy that helps highlight the trade-off of costs and benefits is the risk of terrorism."

Trump Not Seeking Full Repeal Of Dodd-Frank; Opposes Bank Bailout Provision

In what may be bad news for the financial sector, after opposition to grassroots as well as Congressional republicans, Trump appears to be tempering expectations of a full Dodd-Frank repeal, and according to the WSJ, Trump’s transition team is instead focusing on "rescinding or scaling back individual provisions."

What Does It Take To Bring Hillary Clinton To Justice?

Virtually the whole planet holds its collective breath at the prospect of Hillary Clinton possibly becoming the next President. How’s that humanly possible, as the (daily) Bonfire of The Scandals – relentlessly fed by WikiLeaks revelations and now converging FBI investigations - can now be seen from interstellar space? It’s possible because Hillary Clinton, slouching through a paroxysm of manufactured hysteria, is supported by virtually the whole US establishment, a consensual neocon/neoliberalcon War Party/Wall Street/corporate media axis.  But History has a tendency to show us there’s always a straw that breaks the camel’s back.