In The News

Trump and Kushner Accounts: New York Times

David Enrich May 20, 2019
Deutsche Bank employees flagged transactions of the Trump Foundation and other entities controlled by Donald Trump and Jared Kushner in 2016 and 2017 and prepared suspicious-activity reports for federal review. “But executives at Deutsche Bank, which has lent billions of dollars to the Trump and Kushner companies, rejected their employees’ advice,” reports David Enrich for the New York Times....

UK to Lose £1 Trillion Financial Assets: FT

Stephen Morris March 21, 2019
Businesses prepare for the chaos of worst-case Brexit scenarios, reports an Ernst & Young Global Limited survey. For financial services companies, that includes plans to transfer £1 trillion in assets from the United Kingdom to Europe. British negotiators struggle to reach a deal that includes freedoms from immigration and European regulations, as desired by just over half of voters in the...

Japan Bank Fuels Global Lending: Wall Street Journal

Telis Demos and Sam Goldfarb February 19, 2019
Corporate debt is unnerving some investors. For companies with low ratings, Norinchukin Bank in Japan with about $600 billion in deposits from agricultural and fishing collectives can come to the rescue. The company with about $1 trillion in assets, holds about $700 billion in collateralized loan obligations, which in turn cover about half of US loans to junk-rated companies, report Telis Demos...

TNI: Unused Citizen Power and Public Collateral

Ann Pettifor January 26, 2019
Citizen majorities who support action on climate change or a tax system that reduces inequality must find political courage to battle moneyed interests. Citizens in nations with sound taxation systems hold more power than they realize. Taxpayers can demand that public debt target the public interest – as former US President Franklin D. Roosevelt accomplished during the Great Depression and some...

Spiegel: Germany Prepares for Economic Downturn

Christian Reiermann January 15, 2019
International Monetary Fund analysts warn that the global economy confronts multiple risks, and the global banking system is not prepared for a downturn. Stock markets are losing value, and trade disagreements reduce efficiency and heighten uncertainty. Tightening US monetary policy and rising interest rates pose problems for emerging economies that have borrowed in dollars. Brexit, populism and...

Wall Street Journal: Emerging-Markets Rout Boosts Contagion Fears

Ira Iosebashvili, Ben Eisen and Amrith Ramkumar June 15, 2018
Stocks in emerging economies around the world like Brazil, Turkey and Indonesia have fallen dramatically in recent weeks – mostly driven by the strong US dollar and high US bond yields. Currencies and investments in emerging market bonds also remain low despite global economic growth. Countries like Argentina, Turkey, and Italy accumulated debt when interest rates were at record lows and are now...

Project Syndicate: Debt Shackles Return

Michael Heise May 16, 2018
Accelerating global growth is based on rising public and public debt. Economist Michael Heise counts such debt among the most serious challenges for the global economy. The Bank for International Settlements reports that total private and public debt of households, government agencies, corporations and other entities not in the financial sector – or non-financial debt – amounts to more than 240...