Although I believe ideas should stand on their own merit, rather than on their author's credentials, I also recognize that readers want some assurance that they are not quoting a 13 year old or a dog. I have undergraduate and graduate degrees from Harvard. I have been working in and around the financial services industry since 1980 and have had over 40 articles published in venues such as The New York Times, Institutional Investor, The Daily Deal, U.S. Banker, Bank Mergers & Acquisitions, The Conference Board Magazine, BRW Magazine (Australia), and Boss Magazine (Australian Financial Review).
Recent Blog Posts by Yves Smith
- James K. Galbraith: We Told You So
- Earth to Dimon: Banks Don’t Have a Right to Profit
- ‘What Scares Me Isn’t $2 Billion Loss JP Morgan Made, What Scares Me Is the Record $19 Billion in Profits’
- Colleges as Merchants of Debt
- JP Morgan Loss Bomb Confirms That It’s Time to Kill VaR
- The Intensifying Debate Over Food Security
- Shale Gas Hype: Subprime 2.0?
- Frontline Takes Issue With Naked Capitalism’s Critique of Its ‘Money, Power & Wall Street’ Shows
- Economists, Liquidity Mongers and the Banker Assault on Financial Reform
- Is Wells Fargo a Lehman in the Making?
- How Overpriced Is US Health Insurance?
- Will the Fiscal Cliff Eat the Recovery, Such as It Is?
- Frontline’s Astonishing Whitewash of the Crisis
- The ECB Is on Mars
- The Hidden Bank Time Bomb: Interest Rate Risk
- Dying for Satisfaction: Being Happy with Your Doctor Is Bad for Your Health
- World Bank Nominee Kim Under Fire for “Dying for Growth” Book
- Memo Shows Corzine Ordered Raiding MF Global Customer Account of $200 Million
- Dallas Fed’s Fisher Criticizes Dodd Frank as Not Going Far Enough on TBTF
- Cathy O’Neil: Economists Don’t Understand the Financial System (Quelle Surprise!)
- Chris Cook: The Oil End Game
- Wolf Richter: Greece, ‘The Bottomless Barrel,’ As Germans Say
- Spinning Necessity as a Virtue: Families to Stand in for Fragmenting Social Safety Nets
- John O’Brien: Mortgage Settlement Fails to Address Banking Criminal Enterprise
- Michael Olenick: Shocking Economic Insight – Mass Foreclosures Will Drive Down Home Prices
- Quelle Surprise! Taxpayers Will Be Paying for Part of Mortgage Settlement
- Austerity Policy Destroying Greek Society
- Quelle Surprise! Administration and State Attorneys General Lied, Mortgage Settlement Release Described as “Broad”
- Mortgage Settlement as Attorney General Sellout: Deal Is Not Done, and Final Version Guaranteed to Be Worse Than Advertised
- The Wages of Austerity: Superbug Runs Wild in Greek Hospitals
- The Top Twelve Reasons Why You Should Hate the Mortgage Settlement
- Schneiderman MERS Suit and HUD’s Donovan Remarks Confirm That Mortgage “Settlement” Is a Stealth Bank Bailout
- Why Is the Normally Astute Taibbi Sounding Like a Hopey Dopey Liberal on the Mortgage Settlement?
- ProPublica’s Off Base Charges About Freddie Mac’s Mortgage “Bets”
- New York Times Tells Us Only Chinese Near Slave Labor Could Handle Steve Jobs’ Demands
- More Evidence that JP Morgan Stuck the Knife in MF Global
- Obama to Try Better Smoke and Mirrors to Address Housing Market Woes
- American Exceptionalism and Euro-Bashing, Adam Davidson Style
- Is Management Getting Worse?
- Is the OCC the Most Corrupt US Bank Regulator?
- Global Savings Glut or Global Banking Glut?
- Corzine’s Know-Nothing MF Global Defense
- Obama Road Tests Hopey-Changey Big Lie 2.0: He’ll Reincarnate as Teddy Roosevelt if You Are Dumb Enough to be Fooled Twice
- Does Anybody Who Gets It Believe Central Banks Did All That Much Yesterday?
- LPS Foreclosure Fraud Whistleblower Found Dead
- Judge Rakoff Whacks SEC Yet Again, This Time Over Citi CDO Settlement
- Is a Euro Fix Around the Corner?
- 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?
- The Fed Stress Tests While Europe Starts to Burn
- On the Narrative of Pepper Spray at UC Davis, or “Mic Check for President!”
- Are You Happy That Your Tax Dollars Are Going to Crush #OWS and Other Occupations?
- Denial in the Mortgage Industrial Complex
- Is Greece About to Derail the Bailout Yet Again?
- EU Leaders Threaten Greece With Expulsion From the Eurozone
- Greece: The Debtor That Roared
- Europe’s Economy Is Falling Apart
- Grand European Rescue Already Starting to Come Unglued?
- Police Crackdown Effort at #OccupyOakland Raises Bigger Questions About Movement Evolution
- Europe Readies Its Rescue Bazooka
- The Eurobanks’ Latest Scheme to Escape the Pain of Recapitalization: Pull More Financial Firms into the TBTF Complex
- The Verboten Story of Argentina’s Post-Default Economic Success
- Eurozone Rescue Going Off the Rails
- Bank of America Deathwatch: Moves Risky Derivatives From Holding Company to Taxpayer-Backstopped Depository
- The Data That the Economy Is Not So Hot Is Getting Harder to Ignore
- On the Lack of Democratic Consent of Greeks to Austerity Programs
- Has China Just Hit Stall Speed?
- Warning: Greece Can Break Glass and Leave the Eurozone
- One Third of Americans One Paycheck Away From Homelessness
- Quelle Surprise! SIGTARP Report Finds Citi, Bank of America Allowed to Leave TARP Prematurely
- Can European Politicians Beat the Clock and Stave Off a Crisis?
- The Very Important and of Course Blacklisted BIS Paper About the Crisis
- Income Inequality Produces Indebtedness and Global Imbalances
- Sanity Check: ‘Revolt Over Risks of Elite Class of Bankers’
- The Fed Bails Out Eurobanks Yet Again
- Poverty Rate Highest Since 1993; Median Income Reveals Lost Decade and a Half
- Jurgen Stark = Credit Anstalt 2.0 (and Euromarkets Reacting Accordingly)
- The Decline of Manufacturing in America: A Case Study
- How Is Your (Holiday) Economy Doing?
- The More You Look, the More Bank Criminality You Find in Mortgage Land
- 25 Big Corp CEOs Made More Than Their Companies Paid in Federal Taxes
- Why Is Bank of America’s Stock Cratering Yet Again? It’s the Extend and Pretend Endgame
- Guest Post: Innovate or Die
- Philip Pilkington: Profits in a Capitalist Economy – Where Do They Come From, Where Do They Go?
- The Sucking Sound of Liquidity Draining from Eurobank Market
- Quelle Surprise! New York Fed Director Shills For Bank of New York, Argues Against Rule of Law
- ‘August 2011: The Euro Crisis Reaches the Core’
- If This Is 72 Hours of Central Bankers Trying to Save the World, What Would Abject Capitulation Look Like?
- Asia Getting Hammered, Discouraging Report on ECB Commitment
- Obama Owns This Crisis
- ECB Considers Massive Purchases of Italian and Spanish Bonds (Update: Eurobazooka Armed)
- Market Rout Continues
- Warren Reportedly Ready to Drink From Poisoned Chalice of a Senate Bid
- Software Outsourcer Infosys Sued for Alleged Large Scale Visa Fraud
- Should Elizabeth Warren Run for President?
- Has S&P Become Our Rupert Murdoch?
- More Shades of TARP: Latest Deficit Ceiling Plan to Establish Extra-Constitutional Legislative Process
- A Report from Greece
- So What Might Happen if We Get to August 3 With No Deficit Deal?
- Is Bank of America at Risk of a Death Spiral?
- Shades of 2007: Funding Stresses Hit European Banks
- Eurozone Leaders Fiddling as Rome Starts to Burn?
- Did Sheila Bair Save the U.S. from Complete Financial Meltdown?
- Ron Paul Suggests Using Fed to End Debt Ceiling Impasse
- Partying on the Edge of the Eurozone Volcano
- DeLong Illustrates Why We Should Be Scared of Economists
- Eurozone Brinksmanship: Ministers Walk Back Greek Rollover Commitment, Demand Austerity Measures First
- Inept Obama ‘Anybody but Warren’ Stance Reveals Fundamental Bank v. Middle Class Fault Line
- Obama Still Desperately Seeking Anybody But Warren to Head New Consumer Agency
- Embarrassingly Lame Federal/”50″ State Attorneys General Mortgage Negotiations Continue
- Goldman Subpoenaed Over Levin Committee Hearing Findings
- Quelle Surprise! Consumer Confidence Falls on Oil Prices, Housing, Job Outlook
- Are Fissures in Europe Worse Than Media Reports Suggest?
- Row Over New IMF Chief Intensifies (Updated)
- More Worries About the Foreclosure Overhang
- Musings on Plutocracy
- Daniel Pennell: Thoughts on American Homeownership
- Conditions Worsen at Fukushima Nuclear Site
- Fannie and Freddie Hiding Over $100 Billion of Losses?
- The Stigmatization of the Unemployed
- Is Nuclear Power Worth the Risk?
- Why American Officials Have Been Criticizing the Japanese Nuclear Containment Efforts
- Japan Earthquake Shows Business Reengineering Relies on Bogus Thinking Similar to Financial Engineering
- Remaining Staff at Fukushima Plant Told to Leave (Temporarily?); Intrade Predicts IAEA Will Upgrade Accident Level (Updated)
- Will Ireland Threaten to Default?
- EU Puts Periphery Countries on the Rack
- Wisconsin Senate Passes Bill Ending Public Bargaining Rights
- More Public Infrastructure Sale Tales of Woe
- Even Tea Party Members Do Not Support Cutting Social Security
- Mortgage Fraud Whitewash: $20 Billion ‘Get Out of Jail Free’ Settlement Floated
- Wisconsin’s Walker Joins Government Asset Giveaway Club (and Is Rahm Soon to Follow?)
- Wisconsin Union Battle: A Convenient Distraction From the Real Culprit in State Budget Woes
- Wisconsin Governor Uses Police State Tactics (Literally) on Democratic Senators (Updated)
- Taibbi on Why No One on Wall Street Goes to Jail
- New York Times Article Perpetuates Short-Sighted Management Attitudes
- UK About to Implement Massive Tax Break for Banks; Is the US Far Behind? (Updated)
- The Specious Logic of Wall Street Pay
- What If China’s GDP Is Seriously Overstated?
- FCIC Insider: ‘I Can’t Believe They Suborned Brooksley Born’
- Americans Lose Faith in Pretty Much All Big Organizations, Especially Banks and Corporations
- To Bailout or Not to Bailout: Mortgage Mess Endgames Emerging
- What a ‘Get Tough with China’ Stance Would Really Look Like
- The Imagination Trade, or the Tinkerbell Market 2.0
- Outsized Pay on Wall Street Persists
- Pending Massachusetts Supreme Court Ruling May Invalidate Securitization Mortgage Transfers
- Attorney General Tom Miller Reneges on Promise to Prosecute Mortgage Fraud (Updated)
- On the Gutting of Financial Services Reform
- Treasury Bars Use of TARP Funds to Help Borrowers Facing Foreclosure
- Ireland About to Give Another Sop to the Banks, a Bad Assets Fire Sale?
- Debunking the Myth That Bigger Banks Are More Efficient and Necessary
- Pettis on Eurozone Pathways and Endgames
- Servicer-Driven Foreclosures: The Perfect Crime?
- Tax Hikes, Status Competitiveness, and Social Stratification
- Why MERS Needs to Be Taken Out and Shot
- Countrywide Admits to Not Conveying Notes to Mortgage Securitization Trusts
- So Who Benefits from Protracted Foreclosures? Servicers!
- Noose Closing on Ireland
- Ireland Brinksmanship with the EU: Slow Motion Bank Run May Be Giving Government Leverage
- Robert Shiller Advocates and Engages in NewSpeak and Dubious Analysis in NYT Piece
- The Irish Mess (V)
- Is the U.S. Taking Too Much of the Brunt of the Crisis Aftermath?
- Germany Draws Line in the Sand on Eurozone Bailouts, Insists Bondholders Take Pain
- Eurozone Worries Rising?
- Obama No Longer Bothering to Lie Credibly: Claims Financial Crisis Cost Less than S&L Crisis
- More on the Peculiar Pimco, BlackRock, New York Fed Putback Letter to Countrywide
- Morgenson Sort of Acknowledges Problems with Residential MBS Rights to Foreclose
- More on Why the PIMCO, BlackRock, Freddie, NY Fed Letter to Countrywide on Putbacks Is Way Overhyped
- “A Currency War the US Cannot Win”
- Guest Post: So Why Did the Mortgage Servicers Use “Robo Signers”?
- Foreclosure Crisis Finally Hitting Banks Where it Hurts: Their Stock Prices
- Are the Bank Foreclosure “Moratoriums” More PR than Real?
- Josh Rosner: “Could Violations of PSA’s Dwarf Lehman Weekend?”
- Bank Disinformation I: PR Machine in Overdrive on Foreclosure Fraud Front
- Debunking Banks’ “Procedural Problems” Defense on the Foreclosure Crisis
- Bank of America Suspends Foreclosures in All States
- More Tensions on the Currency Front
- DC Waking Up to Escalating Foreclosure Train Wreck: Grayson Calls for FSOC to Examine Foreclosure Fraud as Systemic Risk
- Orwell Watch: “Structural Unemployment” as Excuse to Do Nothing
- How Serious Is the GMAC Problem? Pretty Serious and Not Just GMAC
- Administration Steps Up Saber Rattling with China
- Is the High Cost of U.S. Medical Care Due to an Oversupply of Services?
- This Is Basel III??
- EU Effectively Forces Securitization Reforms on the U.S.
- Eurobank Stress Tests: A Failed Confidence Ploy
- Why Germany’s Rebound Is Not Such Good News
- More Debate on QE
- Michael Pettis on the High Odds of Trade War
- More Signs of (Probably Futile) Labor Pushback in China
- Ouster of HP’s Hurd: A Shot Across the Bow of Overpaid Cost Cutters?
- Widening Chinese Trade Surplus Increases Pressure to Intervene
- Why Is the Journal Mystified that Some Employers Are Having Trouble Finding Workers?
- On Investor Distrust in the Markets
- Andy Xie on China’s Empty Apartments
- More Incoherent Remarks From China on Its Dollar Holdings
- Strategic Defaulters as the New Welfare Queens
- Debunking Eurozone Optimism
- Soros on the Crisis and the Euro
- Quelle Surprise! China Decides Not to Use Nuclear Option on Itself
- Martin Wolf Continues Attack on Fiscal Austerity
- It’s the Corporate Savings Glut, Stupid! The Hysteria of Marching to Austeria
- US-China Pressure May Escalate Sooner Rather Than Later
