Tuesday, November 3, 2015

Tuesday roundup (11-03-15)

These are the world’s 30 ‘too-big-to-fail’ banks: J.P. Morgan and HSBC pose biggest risk to financial system (Marketwatch) World's Biggest Banks Still Not `Truly Resolvable,' FSB Says (Bloomberg)

Scandal at [Germany's] Volkswagen widens with new problems in C02 emissions in 800,000 vehicles (The Associated Press) VW Emissions Issues Spread to Gasoline Cars (Bloomberg) Volkswagen also lied about its gas-powered cars (engadget)

One Analyst Says China's Banking Sector Is Sitting On A $3 Trillion Neutron Bomb (ZeroHedge blog)

U.S. factory orders fall for second straight month (Reuters) US factory orders fell 1 pct. in September, with weakness in aircraft and business investment (The Associated Press)

The Rigging of the American Market by Robert Reich (The Huffington Post)

Elizabeth Warren faces test of her clout as Hillary Clinton consolidates support (The Los Angeles Times)

Standard Chartered Bank to Raise $5.1 Billion and Cut 15,000 Jobs (The New York Times 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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