The Fed chair has been an enabler of the economy’s hyper-financialization and speculative excess. Resistance to Trump is too low a bar.
banking
Posted inEconomic Policy
The Faltering War Economy
Trump’s war craters the economy in multiple ways, even if it somehow ends soon.
Posted inMoney, Politics, and Power
The Private Credit Cartels
Wall Street wants you to believe AI is to blame for the incipient credit crisis. But the crappy software loans spooking investors are the products of old-economy greed and brazen collusion.
Posted inEconomic Policy
Private Equity’s Great Escape
The industry bought companies for too much money and made a bunch of bad loans. Now they’re scrambling to avoid the reckoning.
Posted inEconomic Policy
When Consumer Protection Stops, Scammers Run Amok
Hundreds of consumers have complained to the CFPB about a credit card for rental payments called Bilt. But the agency has been prohibited from responding.
Posted inEconomic Policy
Trump’s Fed Regulators Rewrite the History of the Silicon Valley Bank Collapse
Before every financial crisis, there is a concerted effort to argue that this time is different.
Posted inEconomic Policy
The Looming Chaos of Tariff Refunds
Companies, consumers, and hedge funds all want a piece of the revenue from the tariffs the Supreme Court invalidated. That will create unnecessary economic damage.
Posted inHealth and Social Policy
The Bank of Big Medicine
Health insurers and providers are using industrial loan companies and other tactics to make money from financial engineering rather than patient care.
Posted inEconomic Policy
The Next Financial Collapse
In the coming crisis, the Fed is not likely to be in good hands.
Posted inTAP
Central Banker or Central Casting?
Seemingly, Kevin Warsh is a mainstream central banker. Dig down and he’s the Fed equivalent of Pete Hegseth.