Tuesday, October 25, 2016

Tuesday roundup (10-25-2016)

Euro zone releases 2.8 billion euro loan tranche to Greece (Reuters)

EU executive asks Italy to explain rising 2017 budget deficit (Reuters)

[Italian bank] Monte dei Paschi to Cut [2,600] Jobs [by 2019] and Close [500] Branches in Turnaround Bid (The New York Times blogs)

[In the United States,] Federal regulator launches broad review of banks' sales practices (The Los Angeles Times)

The biggest auto-scandal settlement in U.S. history was just approved [= $14.7 billion]. VW buybacks start soon (The Los Angeles Times)

     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.

No comments:

Post a Comment