Monday, September 19, 2016

Monday roundup (09-19-2016)

Quote of the Day:

"Where were the internal controls? This stuff was not sophisticated. Why weren’t there red flags? Why weren’t they catching this?" -- Sheila Bair, former head of the Federal Deposit Insurance Corp. (The Washington Post)

Europe Is Facing a Fiscal Meltdown (ValueWalk)

Italy PM tells Bundesbank chief to fix Germany's bank problems (Reuters)

BIS warns China banks risk crisis within three years (Reuters) By this measure, China’s banking sector could implode within 3 years: China’s credit-to-GDP gap is three times over the threshold (Marketwatch)

Engie to cut 1,150 French jobs, LNG unit making losses - L'Expansion (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 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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