Archive | Bail out

Oops! Philly Fed Admits QE widens inequality

Once again, the Federal Reserve proves that it’s the last one to know everything that we knew already.   Today’s stunning announcement:  The Philadelphia Fed admits they (“may have”) made the wealthy wealthier and Main Street poorer. Oops.  Sorry America. The Philly Fed insists that “redistributing wealth” to the wealthy isn’t the main idea, but just a potential side […]

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Never go full retard: Bloomberg calls for “helicopter money”

Clive Crook, a member of Bloomberg View’s editorial board, has gone where the sensible have long feared to tread.  In today’s Bloomberg View, he recommends stimulating the economy by just giving everyone free money. Crook also may have set a Bloomberg View record for getting everything so wrong, so quickly.   By his third sentence Clive is clearly lost. […]

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European Bank Kabuki Preview: Spoiler alert!

European banks are bracing themselves for another slap on the wrist and stern language, as the next round of sham “stress tests” begins.   We’re not quite sure who exactly is stressed, but our inkling is that it should be the taxpayers.  Thankfully, the ECB is hoping to avoid actually penalizing any banks by “prepping” them for the […]

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Europe’s solution: Would you believe $1.4 TRILLION in free money for banks?

Remember at the “end” of the financial crisis when everyone from Timothy Geithner to Barack Obama to assorted members of British Parliament promised that “Never again” would anyone need to hand trillions of dollars to bail-out banks?   That was just a one time thing, right? We’re all past that now. Right? Wrong.  Well, at least not […]

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