Saturday, April 25, 2015

Saturday roundup (04-25-15)

More than 1,800 dead as magnitude-7.8 quake rocks Nepal (USAToday)

What happens if Greece can’t pay its debts?: The standoff between a leftwing government and the financial powers of the EU is near to breaking point. What if the worst happens? (The Observer)

Eurozone Finance Ministers Contemplate ‘Plan B’ for Greece: Statements by Slovenia and German finance ministers break long-held taboo over possible exit of Greece from eurozone (The Wall Street Journal)

Greece's grand plan: default and stay in the euro: With the country coming ever closer to defaulting to its creditors, here's how Athens could stiff its lenders but still remain in the euro (The Telegraph)

Greeks’ view of the debt crisis: ‘What lies ahead is great, great hardship’: Three months on from Alexis Tsipras’s victory, hope is ebbing away and support for his party is haemorrhaging (The Observer)

How Wall Street captured Washington’s effort to rein in banks: Intense lobbying of regulators, many of them veterans of the industry themselves, helped ensure that practices the Dodd-Frank law was meant to stop would remain in place. (Reuters)

Can Bankers Behave?: Wall Street still has basically the same culture that led to the 2008 crash. But one big firm is trying to change—as government regulators begin to question whether financial institutions can be reformed at all. (The Atlantic)

April 2015: Unofficial Problem Bank list declines to 342 Institutions (Calculated Risk blog)

     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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