Saturday, April 6, 2013

Saturday roundup (04-06-13)

EU's Rehn: Big depositors could suffer in future bank bailouts under new law (Reuters)

Portugal PM holds urgent budget talks after court ruling (The BBC) Austerity ruling puts Portugal in a bind: Centre-right government says court's budget measures rejections make it difficult to make cuts promised to creditors. (Al Jazeera)

Your bank isn’t much safer than the ones that failed in Cyprus (Quartz)

Why you should switch to a small bank by Felix Salmon, a blogger at Reuters (Medium)

Unofficial Problem Bank list declines to 790 Institutions, Q1 Transition Matrix (Calculated Risk blog)

Finmeccanica to cut close 25 plants, cut 2,529 jobs at Selex unit (Reuters)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats that exist today could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. This blog further attempts to show that the financial crisis of 2008 was largely a result of the devastating consequences of excessive risk taking and the absence of effective regulation of such behavior. Furthermore, this blog maintains that not only have the lessons that should have been learned from this experience not been learned, but that the risks to the economy, including the persistent building up of "too big to fail" institutions, have actually increased since the crisis began. Finally this blog also brings to light, from time to time, reports of a parallel threat to economic well-being developing in the energy industry, which suggest an energy shock may be coming much closer in time than is generally imagined.

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