Wednesday, March 4, 2015

Wednesday roundup (03-04-15)

[Global] Fund Managers Face Tougher Rules on Too-Big-to-Fail Firms (Bloomberg)

ECB Buying Turns Yields Negative on $24 Billion of Covered Bonds (Bloomberg)

Euro zone rebuffs Spanish talk of new Greek bailout (Reuters) Greece Struggles to Make Debt Math Work Amid Bailout Standoff (Bloomberg)

Poland’s Central Bank Slashes Rates to Combat Deflation Risk: Key interest rate cut by 50 basis points to 1.50% in response to falling prices (The Wall Street Journal)

Ukraine's economy teeters towards collapse (CNNMoney)

Bank of England in Money Market Inquiry (The New York Times blogs) Did City crisis cause Bank of England to break the law? Bank could face criminal investigation into how it propped up lenders at start of credit crunch (The Daily Mail)

Bank of England flags up 50 potential cases of market rigging: Mark Carney says 42 cases have been sent to FCA following forex-rigging scandal and new Bank policies for staff to raise suspicions (The Guardian)

Chinese central bank looks at deflation risk (The Australian)

Liquidity evaporates in China as 'fiscal cliff' nears: Unless China changes course, it is set to tighten fiscal policy by 5.5pc of GDP this year, five times Britain's austerity dose annually since the Lehman crisis by Ambrose Evans-Pritchard (The Telegraph)

Chicago in talks with banks to avert swap payments (Reuters)

Pennsylvania Governor Calls for $3 Billion Bond for Pensions (Bloomberg)

Puerto Rico’s debt crisis: A Lehman moment for the island (The Hill blogs)

     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 exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

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