Corporate Finance

How To Make The Financial System Radically Safer

The best way to regulate banks is to turn over regulatory control to the very exacting, and unsympathetic, order of the market. That is to have little to no regulations and one very specific and uncompromising provision: "There will be absolutely, unconditionally, categorically, no government funded bailouts."

Deutsche Bank Tumbles After Abysmal Trading Results

Deutsche Bank shares tumbled 4% on Thursday after the bank reported a plunge in overall company revenue which slumped to the lowest in three and a half years, as Investment Banking revenue dropped 16%, while FICC tumbled a whopping 12% Y/Y and 30% Q/Q, with CEO John Cryan taking a page out of the Goldman playbook and blaming "muted client activity."

Frontrunning: July 5

  • U.S. Warns North Korea It’s Ready for War Over Missiles (WSJ)
  • U.S., South Korea stage show of force against North Korea (Reuters)
  • UN to Meet on North Korea as U.S. Confirms Rocket Was ICBM (BBG)
  • Trump talks tough, options limited (Reuters)
  • North Korea, Putin Meeting Top Agenda For Trump’s Tripa (WSJ)

JPMorgan COO Matt Zames Is Leaving The Bank, Takes $48 Million Exit Package

In what is the biggest financial news of the day, with "Triple Threat Thursday" now downgraded to Single, outlook negative, moments ago Bloomberg reported that JPM COO, and former co-chair of the Treasury Borrowing Advisory Committee, Matt Zames who was viewed as a potential successor to CEO Jamie Dimon, is leaving after 13 years at the bank.

French Establishment Mount The Ramparts Against Le Pen

Macron’s endorsement list tells a lot... Macron is certainly no «outsider» nor fresh-faced 'challenger' of the status quo. That’s just all superficial marketing and branding to ensure that he prevents Le Pen winning power. Macron will eventually prove to be a willing servant of global capitalism, the EU and NATO, and a ruthless economic hitman against the working class.

9 Lessons From The Reagan Tax Cuts

A close look at the ’86 tax reform shows why tax reform may not get done this year. As BofAML's Ethan Harris notes, "we are skeptical." Significant tax reform creates winners and losers, which may make it hard to find a "coalition of the willing."

New York Times Will Vacate 8 Floors In Its HQ To Generate "Significant Rental Revenue"

Remember when The NYT reported that its ad hoc campaign to boost revenue by selling subscriptions in response to the vicious back and forth with Donald Trump, was said to be a smashing success? It appears it was not smashing enough, and according to a just released note, the newspaper will vacate at least eight floors in its iconic building, allowing it to "generate significant rental income."