Wall Street shenanigans

A Dark Alliance: European Union Joins Forces With Wall Street

by Don Quijones •  • 1 Comment

Negotiations behind closed doors are under way to water down all forms of financial regulation on both sides of the Atlantic via the Transatlantic Trade and Investment Treaty. Leading the charge: not the US government, but an unholy alliance between the European Commission, Wall Street, and the City of London.

‘It’s Like We Have Developed An Inability To Even See Risks’

by Wolf Richter •  • Comments Off on ‘It’s Like We Have Developed An Inability To Even See Risks’

My convo with a wealth manager at a megabank who’s been at it for 30 years, has seen three crashes while on the job, but unlike others in finance, hasn’t re-forgotten the lessons for the third time.

How Wall Street Manipulates The Buy-to-Rent Housing Racket

by Wolf Richter •  • Comments Off on How Wall Street Manipulates The Buy-to-Rent Housing Racket

The smart money had a goal, which it now reached via the “multiplier effect” by which a small number of sales can have extreme consequences in price for the rest.

Economic Growth in America’s “Two-Tiered Society”

by Wolf Richter •  • Comments Off on Economic Growth in America’s “Two-Tiered Society”

It’s been glorious: global M&A in Q2 soared 47% to $1 trillion, highest since 2007, just before the financial crisis. But in California, 30% of the people making less than $40k were in worse financial shape than last year, despite all the bubbles around them.

Federal Regulator Details Crazy Risk-Taking By Banks, Blames Fed

by Wolf Richter •  • Comments Off on Federal Regulator Details Crazy Risk-Taking By Banks, Blames Fed

Banks are again taking the same risks that triggered the financial crisis, and they’re understating these risks. It wasn’t an edgy blogger that issued this warning but the Office of the Comptroller of the Currency. And it blamed the Fed’s monetary policy.

Canary In A Handbag: Why Coach Hit The Skids

by David Stockman •  • Comments Off on Canary In A Handbag: Why Coach Hit The Skids

Coach just had an earnings fiasco. Sales plunged 21%. Prospects are worse for the period ahead. Store closings are coming. That’s the payoff for playing the destructive game of the Wall Street casino.

Last Time Corporate America Did This, The Stock Market Crashed

by Wolf Richter •  • Comments Off on Last Time Corporate America Did This, The Stock Market Crashed

So what happens when these huge and reckless buyers with their nearly endless resources start cutting back after a phenomenal peak? Well, we know what happened in 2008.

Housing Hit the Wall of Wall Street in May

by Wolf Richter •  • Comments Off on Housing Hit the Wall of Wall Street in May

It always starts with a toxic mix: Home sales plunged and inventories jumped in May. The housing market is buckling under its own inflated weight.