Friday, September 9, 2016

Friday roundup (09-09-2016)

3 Banks That Have Received Huge Fines Related to the 2008 Financial Crisis: Since the 2008 financial crisis, violations in leading banks have led to huge costs and raised concerns about the banking system's integrity. (TheStreet)

Negative Interest Rates and the War on Cash by Nicole Foss: Part 1 (The Automatic Earth blog) Part 2 (The Automatic Earth blog) Part 3 (The Automatic Earth blog) Part 4 (The Automatic Earth blog)

Facing slow to no growth, EU's poor nations plot next move (CNBC)

Finland's Rehn: EU should stick to deficit rules (Reuters)

Eurozone woes continue as German exports plunge and French industry deteriorates (The Telegraph)

EU crisis looms as Greece, Spain and Portugal pose TRIPLE THREAT for crumbling eurozone: EUROZONE finance ministers are meeting in a desperate attempt to avert three separate economic disasters looming in Greece, Spain and Portugal. (The Express)

Greece Urged to Speed up Reforms to Get More Bailout Cash (The Associated Press) Greece’s slow bailout progress set to dominate Eurogroup talks (CNBC)

[Meanwhile in Greece,] Deflation persists for a 42nd month [Reuters via] (eKathimerini)

Zimbabwe Plans to Cut 25,000 State Jobs to Trim Wage Bill (Bloomberg) Zimbabwe to cut 25,000 civil service jobs (The BBC)

[In United States District Court in Detroit,] Volkswagen engineer pleads guilty in U.S. diesel emissions probe (Reuters)

The explosion of student debt could be 'a drag on the financial well-being of the nation' (The Business Insider)

Louisiana governor asks Congress for $2 billion for flood recovery (The Associated Press)

     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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