Tuesday, December 13, 2016

Tuesday roundup (12-13-2016)

Greece 'boxed in' as EU and IMF fight over nation's debt relief plan: IMF distances itself from policies underpinning bailout as Greek officials worry that war of words may lead to IMF pulling out of rescue programme (The Guardian)

Italy's biggest bank to slash 14,000 jobs (CNNMoney)

[United States] Senate fight looms after Trump taps Exxon CEO as top U.S. diplomat (Reuters) Big Oil Gets a Huge Role in Trump's Administration (Bloomberg)

Senators to Trump: Sell your holdings (CNNMoney) [The Letter] (Politico)

Donald Trump, Praised by Former President Nixon, Biography Says (The New York Times blogs) Trump plans personal touch for Oval Office wall (Politico)

Regulators reject Wells Fargo’s plan to prevent another taxpayer bailout of big banks (The Washington Post) Wells Fargo Becomes First Bank To Face Sanctions For Failing Too-Big-To-Fail Test: The company was fined just three months ago over a massive scandal involving sham accounts. (The Huffington Post)

     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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