Recent Blog Posts by Yves Smith

• Wall Street Hiring More Ex-Government Prostitutes Officials to Assure It Gets Its Way May 10th, 2013
• U.S. Treasury Secretary Jack Lew Places Blame on Congress May 8th, 2013
• Mirabile Dictu! Republicans and (Some) Democrats Agree, Diss Obama Pick Mel Watt for Head of FHFA May 2nd, 2013
• Financial Media Celebrates Apple’s Tax Evasion Bond Deal May 1st, 2013
• Recession and Austerity Good for the Rich April 30th, 2013
• Medical Journal Editorial Blasts Obamacare for Increasing Underinsurance April 26th, 2013
• Michael T. Klare: Entering a Resource-Shock World: How Resource Scarcity and Climate Change Could Produce a Global Explosion April 22nd, 2013
• Vice Chairman of Chinese Accounting Association Warns Chinese Local Debt Could Create Bigger Crisis than US Housing Implosion April 17th, 2013
• Obama: The Buckraking Starts Here April 16th, 2013
• Troika Demands Another €6 Billion from Cyprus, Making ‘Rescue’ Bigger Than GDP April 12th, 2013
• Why Gary Gensler Should be #2 at Treasury April 9th, 2013
• Bitcoin Bubble or New Virtual Currency? March 26th, 2013
• Bizarre New York Times Article on Lousy Finances of the Young Gives Undue Prominence to Housing as an Investment March 18th, 2013
• As Dow Sprints to New High, the Middle Class and Manufacturing Languish March 7th, 2013
• Technocrats in Italy Scheming to Steamroll Voter Rejection of Austerity March 4th, 2013
• Quelle Surprise! Having No Idea What Really Happened in Foreclosure Reviews, OCC Parrots ‘Independent’ Consultant Howlers February 26th, 2013
• Martin Wolf Misses the Real Reason the Eurozone’s Unhappy Marriage Has Not Broken Up Yet February 20th, 2013
• Should We Take the Department of Justice’s Suit Against S&P Seriously? February 5th, 2013
• IRS Anticipates Cheapest ObamaCare Family Plan Will be $20,000 in 2016 February 1st, 2013
• China Economic Paradigm Nearing End Game January 23rd, 2013
• UBS Risk Management Fiasco Illustrates Hidden Big Bank IT Time Bombs January 11th, 2013
• UK Gets Tough on Missold Swaps; What Excuse Does the US Have? December 19th, 2012
• Deutsche Bank Didn’t ‘Ignore’ Losses of LSS Trade, It Went Through the Mother of All Canadian Restructurings December 11th, 2012
• Is There a Case for Optimism About the Eurozone? December 3rd, 2012
• Why Robert Khuzami Would Be a Terrible Choice to Head the SEC November 29th, 2012
• Why Greece is a Model of Economic Mismanagement November 21st, 2012
• The CBO’s Latest Con Job: Disappearing Data to Deter Analysis of its Deficit Scaremongering November 14th, 2012
• Greeks Get Time but Not Money November 13th, 2012
• Peter Orszag of Bank Welfare Queen Citigroup is Selling Catfood Futures Hard November 8th, 2012
• Iran’s Untouchable Energy Exports November 5th, 2012
• Mr. Market Says the Military Industrial Complex Will Be Largely Spared in Upcoming Grand Bargain October 29th, 2012
• It’s Time for a Tax to Kill High Frequency Trading October 18th, 2012
• Sorkin Tells Remarkable Whoppers to Defend His Wall Street Sources October 16th, 2012
• Why Is a Price-Fixing/Collusion Lawsuit Against the Biggest Names in Private Equity Getting Only Cursory Notice? October 15th, 2012
• On Manichean Worldviews and Effecting Change September 27th, 2012
• The Bears Explain Where Money Comes From September 21st, 2012
• So How’s That QE3 Working? September 19th, 2012
• Is QE3 Yet Another Stealth Bank Bailout? September 17th, 2012
• Sheila Bair Visits Occupy Wall Street September 10th, 2012
• Markets Applaud Draghi’s New, Improved Kick the Can Down the Road Strategy September 7th, 2012
• The Banks Are Bluffing – They Aren’t Moving Anywhere September 5th, 2012
• How Was Your Vacation Economy? September 4th, 2012
• Time to Rethink a Broken Market August 31st, 2012
• Quelle Surprise! Banks Getting Credit for What They Would Have Done Anyhow in Mortgage Settlement August 30th, 2012
• The Promise and Circumscribed Potential of Worker-Owned Businesses August 28th, 2012
• Quelle Surprise! Former JP Morgan Chairman Offers Dubious Defenses of Big Banks August 24th, 2012
• Ezra Klein Deems Joe Stiglitz, Paul Krugman, and Elizabeth Warren (Plus Other Serious People) Not Credible August 23rd, 2012
• Quelle Surprise! SEC Plans to Make the World Safer for Fraudsters, Push Through JOBS Act Con-Artist-Friendly Solicitation Rules August 17th, 2012
• How to Beat Vulture Debt Collectors August 16th, 2012
• Standard Chartered Makes Empty Threat to Sue New York Regulator Over Iran Money Laundering August 9th, 2012
• NYS Order on Standard Chartered’s Iran Transfers Opens Up US, UK Regulatory Pig Fight August 8th, 2012
• Where Are the Feds? NY Banking Superintendent: Standard Chartered a ‘Rogue Institution,’ Made $250 Billion of Illegal Transfers with Iran August 7th, 2012
• Germans Getting Even More Opposed to Being in the Eurozone July 30th, 2012
• LIBOR Manipulation Well Known in London by 1991 July 27th, 2012
• The Real Significance of Sandy Weill’s ‘Break Up Big Banks’ Recommendation July 26th, 2012
• Josh Rosner: Eurozone Crisis – No More Safe Havens July 25th, 2012
• ‘Do Business Schools Incubate Criminals?’ July 18th, 2012
• Yanis Varoufakis: It Is Now Official – The Eurozone’s Monetary Transmission System Is Broken July 18th, 2012
• The Sucking Sound of Air Leaving the Economy July 17th, 2012
• So How Much Did the Banksters Make on Libor-Related Ill-Gotten Gains? July 13th, 2012
• Is Spain Going the Way of Greece? July 12th, 2012
• Eurozone Screws Spain’s Citizens July 11th, 2012
• America’s Broken Jobs Engine July 10th, 2012
• The Eurozone: A Twenty Year Crisis? July 9th, 2012
• The Economist, Then and Now, on Bankers July 9th, 2012
• Massive Furor in UK Over Libor Manipulation; Where’s the Outrage Here? July 2nd, 2012
• London Whale Trade Explodes, Current Estimate of JP Morgan Losses as High as $9 Billion June 29th, 2012
• Yanis Varoufakis: Greece is Finished June 26th, 2012
• China Punches Back in Rare Earths Row, Claims Rising Scarcity Justifies Export Curbs June 21st, 2012
• Austerity Kills: How the EuroCrisis Is Being Used to Break the Social Contract June 17th, 2012
• Dimon Testimony Whopper: CIO’s Gambling on Disaster = ‘Portfolio Hedging’ June 13th, 2012
• Finland Trying to Dictate Terms of Spanish Bank Bailout: “No Funds to Bad Banks” June 12th, 2012
• China Goes Where Obamacare Refused to Tread: Takes on Big Pharma on High Priced Drugs June 11th, 2012
• Spanish Bank Rescue: Will the Treatment Make the Patient Worse? June 10th, 2012
• Yanis Varoufakis: Solidarity Euro-Style – Finnish Loans, ECB Bond Purchases, EFSF Tough Love and Assorted Horror Stories from the Postmodern Euro-Workhouse June 8th, 2012
• Cleaning Up the Mess: What to Do About Teetering Eurobanks? June 7th, 2012
• Yanis Varoufakis: Why Europe Should Fear Fine Gael-like ‘Reasonableness’ Much, Much More Than it Fears Syriza June 5th, 2012
• The FDIC Continues to Promote the Fantasy That It Can Resolve Megabanks June 4th, 2012
• All Eyes Turn to Spain May 30th, 2012
• James K. Galbraith: We Told You So May 24th, 2012
• Earth to Dimon: Banks Don’t Have a Right to Profit May 23rd, 2012
• ‘What Scares Me Isn’t $2 Billion Loss JP Morgan Made, What Scares Me Is the Record $19 Billion in Profits’ May 16th, 2012
• Colleges as Merchants of Debt May 13th, 2012
• JP Morgan Loss Bomb Confirms That It’s Time to Kill VaR May 11th, 2012
• The Intensifying Debate Over Food Security May 9th, 2012
• Shale Gas Hype: Subprime 2.0? May 7th, 2012
• Frontline Takes Issue With Naked Capitalism’s Critique of Its ‘Money, Power & Wall Street’ Shows May 7th, 2012
• Economists, Liquidity Mongers and the Banker Assault on Financial Reform May 6th, 2012
• Is Wells Fargo a Lehman in the Making? May 2nd, 2012
• How Overpriced Is US Health Insurance? April 29th, 2012
• Will the Fiscal Cliff Eat the Recovery, Such as It Is? April 27th, 2012
• Frontline’s Astonishing Whitewash of the Crisis April 27th, 2012
• The ECB Is on Mars April 26th, 2012
• The Hidden Bank Time Bomb: Interest Rate Risk April 24th, 2012
• Dying for Satisfaction: Being Happy with Your Doctor Is Bad for Your Health March 30th, 2012
• World Bank Nominee Kim Under Fire for “Dying for Growth” Book March 27th, 2012
• Memo Shows Corzine Ordered Raiding MF Global Customer Account of $200 Million March 25th, 2012
• Dallas Fed’s Fisher Criticizes Dodd Frank as Not Going Far Enough on TBTF March 22nd, 2012
• Cathy O’Neil: Economists Don’t Understand the Financial System (Quelle Surprise!) March 1st, 2012
• Chris Cook: The Oil End Game February 27th, 2012
• Wolf Richter: Greece, ‘The Bottomless Barrel,’ As Germans Say February 26th, 2012
• Spinning Necessity as a Virtue: Families to Stand in for Fragmenting Social Safety Nets February 24th, 2012
• John O’Brien: Mortgage Settlement Fails to Address Banking Criminal Enterprise February 23rd, 2012
• Michael Olenick: Shocking Economic Insight – Mass Foreclosures Will Drive Down Home Prices February 20th, 2012
• Quelle Surprise! Taxpayers Will Be Paying for Part of Mortgage Settlement February 17th, 2012
• Austerity Policy Destroying Greek Society February 16th, 2012
• Quelle Surprise! Administration and State Attorneys General Lied, Mortgage Settlement Release Described as “Broad” February 14th, 2012
• Mortgage Settlement as Attorney General Sellout: Deal Is Not Done, and Final Version Guaranteed to Be Worse Than Advertised February 12th, 2012
• The Wages of Austerity: Superbug Runs Wild in Greek Hospitals February 10th, 2012
• The Top Twelve Reasons Why You Should Hate the Mortgage Settlement February 9th, 2012
• Schneiderman MERS Suit and HUD’s Donovan Remarks Confirm That Mortgage “Settlement” Is a Stealth Bank Bailout February 6th, 2012
• Why Is the Normally Astute Taibbi Sounding Like a Hopey Dopey Liberal on the Mortgage Settlement? February 1st, 2012
• ProPublica’s Off Base Charges About Freddie Mac’s Mortgage “Bets” January 31st, 2012
• New York Times Tells Us Only Chinese Near Slave Labor Could Handle Steve Jobs’ Demands January 23rd, 2012
• More Evidence that JP Morgan Stuck the Knife in MF Global January 20th, 2012
• Obama to Try Better Smoke and Mirrors to Address Housing Market Woes January 19th, 2012
• American Exceptionalism and Euro-Bashing, Adam Davidson Style January 9th, 2012
• Is Management Getting Worse? January 5th, 2012
• Is the OCC the Most Corrupt US Bank Regulator? December 30th, 2011
• Global Savings Glut or Global Banking Glut? December 20th, 2011
• Corzine’s Know-Nothing MF Global Defense December 9th, 2011
• Obama Road Tests Hopey-Changey Big Lie 2.0: He’ll Reincarnate as Teddy Roosevelt if You Are Dumb Enough to be Fooled Twice December 7th, 2011
• Does Anybody Who Gets It Believe Central Banks Did All That Much Yesterday? December 1st, 2011
• LPS Foreclosure Fraud Whistleblower Found Dead November 30th, 2011
• Judge Rakoff Whacks SEC Yet Again, This Time Over Citi CDO Settlement November 29th, 2011
• Is a Euro Fix Around the Corner? November 27th, 2011
• German Bund Action Goes Badly; Bank of America CDS Spread Hit New High; EuroSovereign and US Bank Spreads Widen More. Will the Germans Finally Break Glass? November 25th, 2011
• The Fed Stress Tests While Europe Starts to Burn November 23rd, 2011
• On the Narrative of Pepper Spray at UC Davis, or “Mic Check for President!” November 20th, 2011
• Are You Happy That Your Tax Dollars Are Going to Crush #OWS and Other Occupations? November 17th, 2011
• Denial in the Mortgage Industrial Complex November 9th, 2011
• Is Greece About to Derail the Bailout Yet Again? November 6th, 2011
• EU Leaders Threaten Greece With Expulsion From the Eurozone November 3rd, 2011
• Greece: The Debtor That Roared November 2nd, 2011
• Europe’s Economy Is Falling Apart October 31st, 2011
• Grand European Rescue Already Starting to Come Unglued? October 28th, 2011
• Police Crackdown Effort at #OccupyOakland Raises Bigger Questions About Movement Evolution October 27th, 2011
• Europe Readies Its Rescue Bazooka October 25th, 2011
• The Eurobanks’ Latest Scheme to Escape the Pain of Recapitalization: Pull More Financial Firms into the TBTF Complex October 24th, 2011
• The Verboten Story of Argentina’s Post-Default Economic Success October 23rd, 2011
• Eurozone Rescue Going Off the Rails October 23rd, 2011
• Bank of America Deathwatch: Moves Risky Derivatives From Holding Company to Taxpayer-Backstopped Depository October 19th, 2011
• The Data That the Economy Is Not So Hot Is Getting Harder to Ignore October 18th, 2011
• On the Lack of Democratic Consent of Greeks to Austerity Programs October 14th, 2011
• Has China Just Hit Stall Speed? October 11th, 2011
• Warning: Greece Can Break Glass and Leave the Eurozone October 7th, 2011
• One Third of Americans One Paycheck Away From Homelessness October 5th, 2011
• Quelle Surprise! SIGTARP Report Finds Citi, Bank of America Allowed to Leave TARP Prematurely September 30th, 2011
• Can European Politicians Beat the Clock and Stave Off a Crisis? September 26th, 2011
• The Very Important and of Course Blacklisted BIS Paper About the Crisis September 20th, 2011
• Income Inequality Produces Indebtedness and Global Imbalances September 19th, 2011
• Sanity Check: ‘Revolt Over Risks of Elite Class of Bankers’ September 18th, 2011
• The Fed Bails Out Eurobanks Yet Again September 16th, 2011
• Poverty Rate Highest Since 1993; Median Income Reveals Lost Decade and a Half September 14th, 2011
• Jurgen Stark = Credit Anstalt 2.0 (and Euromarkets Reacting Accordingly) September 12th, 2011
• The Decline of Manufacturing in America: A Case Study September 6th, 2011
• How Is Your (Holiday) Economy Doing? September 4th, 2011
• The More You Look, the More Bank Criminality You Find in Mortgage Land September 2nd, 2011
• 25 Big Corp CEOs Made More Than Their Companies Paid in Federal Taxes September 1st, 2011
• Why Is Bank of America’s Stock Cratering Yet Again? It’s the Extend and Pretend Endgame August 23rd, 2011
• Guest Post: Innovate or Die August 21st, 2011
• Philip Pilkington: Profits in a Capitalist Economy – Where Do They Come From, Where Do They Go? August 17th, 2011
• The Sucking Sound of Liquidity Draining from Eurobank Market August 16th, 2011
• Quelle Surprise! New York Fed Director Shills For Bank of New York, Argues Against Rule of Law August 15th, 2011
• ‘August 2011: The Euro Crisis Reaches the Core’ August 12th, 2011
• If This Is 72 Hours of Central Bankers Trying to Save the World, What Would Abject Capitulation Look Like? August 11th, 2011
• Asia Getting Hammered, Discouraging Report on ECB Commitment August 9th, 2011
• Obama Owns This Crisis August 9th, 2011
• ECB Considers Massive Purchases of Italian and Spanish Bonds (Update: Eurobazooka Armed) August 8th, 2011
• Market Rout Continues August 5th, 2011
• Warren Reportedly Ready to Drink From Poisoned Chalice of a Senate Bid August 5th, 2011
• Software Outsourcer Infosys Sued for Alleged Large Scale Visa Fraud August 2nd, 2011
• Should Elizabeth Warren Run for President? August 1st, 2011
• Has S&P Become Our Rupert Murdoch? July 28th, 2011
• More Shades of TARP: Latest Deficit Ceiling Plan to Establish Extra-Constitutional Legislative Process July 24th, 2011
• A Report from Greece July 24th, 2011
• So What Might Happen if We Get to August 3 With No Deficit Deal? July 22nd, 2011
• Is Bank of America at Risk of a Death Spiral? July 21st, 2011
• Shades of 2007: Funding Stresses Hit European Banks July 15th, 2011
• Eurozone Leaders Fiddling as Rome Starts to Burn? July 12th, 2011
• Did Sheila Bair Save the U.S. from Complete Financial Meltdown? July 11th, 2011
• Ron Paul Suggests Using Fed to End Debt Ceiling Impasse July 5th, 2011
• Partying on the Edge of the Eurozone Volcano July 4th, 2011
• DeLong Illustrates Why We Should Be Scared of Economists June 27th, 2011
• Eurozone Brinksmanship: Ministers Walk Back Greek Rollover Commitment, Demand Austerity Measures First June 20th, 2011
• Inept Obama ‘Anybody but Warren’ Stance Reveals Fundamental Bank v. Middle Class Fault Line June 15th, 2011
• Obama Still Desperately Seeking Anybody But Warren to Head New Consumer Agency June 9th, 2011
• Embarrassingly Lame Federal/”50″ State Attorneys General Mortgage Negotiations Continue June 8th, 2011
• Goldman Subpoenaed Over Levin Committee Hearing Findings June 3rd, 2011
• Quelle Surprise! Consumer Confidence Falls on Oil Prices, Housing, Job Outlook June 1st, 2011
• Are Fissures in Europe Worse Than Media Reports Suggest? May 31st, 2011
• Row Over New IMF Chief Intensifies (Updated) May 25th, 2011
• More Worries About the Foreclosure Overhang May 23rd, 2011
• Musings on Plutocracy April 21st, 2011
• Daniel Pennell: Thoughts on American Homeownership April 6th, 2011
• Conditions Worsen at Fukushima Nuclear Site March 28th, 2011
• Fannie and Freddie Hiding Over $100 Billion of Losses? March 24th, 2011
• The Stigmatization of the Unemployed March 21st, 2011
• Is Nuclear Power Worth the Risk? March 20th, 2011
• Why American Officials Have Been Criticizing the Japanese Nuclear Containment Efforts March 18th, 2011