March 18, 2019

Two of capitalism's biggest defenders just confessed that it's no longer working for a lot of

Americans.

https://www.rawstory.com/2019/03/capitalism-isnt-working-everyone-even-free-market-champions-realize/

Most of us have figured that out but I think it is significant that some experts are now admitting it too. It's a start at any rate.

March 7, 2019

While we are being distracted with 45's shenanigan's, this is happening...

https://www.nytimes.com/2019/03/06/business/bank-regulation.html?action=click&module=Top%20Stories&pgtype=Homepage

The Federal Reserve said it would adjust the structure of its annual “stress tests,” which measure the ability of leading banks to withstand a potential economic or financial storm. The changes are likely to make it easier for banks to get regulatory approval to pay higher dividends or buy back their own shares.

Separately, a federal oversight panel announced that it planned to no longer designate big, non-bank financial institutions — insurers, asset managers and the like — as “systemically important.” The classification subjected such firms to more intrusive government regulation.

Taken together, the announcements on Wednesday represented a big win for the financial industry, which has been arguing since the Obama administration that a flurry of regulations imposed following the financial crisis were onerous and made it harder for banks to make loans and support economic growth. Bank executives also argue that because the industry is much financially stronger than it was a decade ago,many recent regulations are now unnecessary.
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Critics, however, argued that the relaxation of the rules, while financially beneficial to bank shareholders and executives, will lead to a less safe, less transparent financial system that is more vulnerable to a repeat of last decade’s devastating crisis.


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Opening the door to another severe recession like the one we had 11 years ago????