Saturday, October 1, 2016

Saturday roundup (10-01-2016)

It’s not just Deutsche. European banking is utterly broken (The Telegraph) The eurozone needs to get a grip of its banking crises (The Independent)

Deutsche Bank Charged Over Paschi Accounts as Legal Hits Mount (Bloomberg) Milan court orders trial over Monte dei Paschi trades: legal sources (Reuters)

[Germany's] Volkswagen reaches $1.2 billion settlement with U.S. dealers over emissions scandal (The Los Angeles Times) Inside the Lab That Smoked Out VW’s Emissions Scheme (Bloomberg)

[In the United States,] Illinois, Chicago should declare bankruptcy to fix fiscal woes, ex-FDIC chief says (Rock Island Today)

September 2016: Unofficial Problem Bank list declines to 177 Institutions, Q3 2016 Transition Matrix (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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