Implode-Explode Heavy Industries news feed Tracking the many faces of the global credit implosion. en-us iehi-feed-53760 Wed, 23 Apr 2014 13:37:22 GMT Hussman - The Federal Reserve's Two-Legged Stool Why have market returns been able to average even 3.5% over the past 14 years? Simple. Valuations have been pushed, once again, to some of the highest levels in history. Instead of terminating this 14-year period anywhere near historical norms, the ratio of market capitalization to GDP presently stands at 1.25, which is double its historical norm.


In her first public speech on monetary policy, Janet Yellen made it clear that the Fed intends to pursue a more rules-based, less discretionary policy. This is good news. The bad news, however, is that Yellen focused only on employment and inflation. In that same speech, not a single word was said about attending to speculative risks or financial instability (which are inherent in Fed-induced, yield-seeking speculation). Without attending to that third leg, the Fed is resting the fate of the U.S. economy on a two-legged stool.

iehi-feed-53754 Wed, 23 Apr 2014 13:11:34 GMT Retail Store Closures Soar In 2014: At Highest Pace Since Lehman Collapse iehi-feed-53744 Tue, 22 Apr 2014 05:14:27 GMT Failed Banker Chosen as Alabama CU Regulator ``Moore's profile also said she was executive vice president and chief operations officer at Colonial Bank and Colonial BancGroup from 2000 to 2003, and served from 1987 to 1996 as an audit manager at Coopers & Lybrand, which merged with PriceWaterhouse in 1998.

Colonial's colossal failure prompted the first lawsuit filed by the FDIC against a failed bank's accountants, according to court records and media reports.

"Colonial's closure was triggered by the discovery that its largest mortgage banking customer, Taylor Bean & Whitaker Mortgage Corp., had committed a massive, multi-year fraud against Colonial, resulting in financial statements that grossly misstated Colonial's true financial condition," according to a lawsuit filed Oct. 31, 2012 by FDIC against PwC, which served as the bank's external auditor and Crowe Horwath, which provided internal audit services.''

iehi-feed-53743 Tue, 22 Apr 2014 05:13:31 GMT Fargo foreclosure manual on trial | New York Post ``At a hearing in lower Manhattan on April 8, Judge Allan Gropper admitted the manual into the bankruptcy case of a local homeowner in foreclosure, and he approved a request by his lawyer to be allowed to dig deeper.

Now Wells must produce a witness with knowledge of the manual who can answer lawyer Linda Tirelli's questions under oath.

Tirelli is alleging that endorsements on the homeowner's note are "fraudulent in nature." A note is an IOU to the bank, while a mortgage ties a given property to the loan.''

iehi-feed-53724 Thu, 17 Apr 2014 16:32:40 GMT Glaring Q.E. Failure Spotted - Money Velocity iehi-feed-53722 Wed, 16 Apr 2014 18:19:17 GMT Yellen: Fed's Rate Policy Hinges on 3 'Big Questions' iehi-feed-53720 Wed, 16 Apr 2014 18:12:42 GMT What the Heck is Going on With US Treasuries In Belgium? iehi-feed-53719 Wed, 16 Apr 2014 18:09:16 GMT The Best SEC [Retirement] Speech Ever iehi-feed-53716 Tue, 15 Apr 2014 16:53:34 GMT "What's the Frequency Zenith?" - Grant Williams iehi-feed-53695 Sun, 13 Apr 2014 14:49:18 GMT All Hail The Draghi Put: The Global Bond Market Is Now Well And Truly Broken | David Stockman iehi-feed-53688 Fri, 11 Apr 2014 01:06:32 GMT Vietnam Sentences Corrupt Bankers To Death By Firing Squad ``American bankers who brought on the 2008 global financial collapse, by and large, didn't get indicted, or face any significant consequences for their actions. In fact, many of them even got huge bonuses.

That wouldn't have been the case in Vietnam, another nation struggling with corrupt and unscrupulous bankers.

During a recent cleanup of Vietnam's financial sector, the strictly authoritarian nation sentenced three bankers to death by firing squad in the past six months alone.''

iehi-feed-53677 Wed, 09 Apr 2014 22:51:31 GMT Hersh: Turkey behind Syria sarin attack iehi-feed-53675 Wed, 09 Apr 2014 02:14:00 GMT Janet Yellen's game of Jenga - Detlev Schlichter ... what can the financial system accomplish without the big Sugar Daddy of the Eccles Building? The investor community is now split between those who continue to ride, slightly nervously, the wave of still easy money and still rising prices and falling risk premiums, those who believe that this should go on a tad longer, and those who have already trimmed the hedges -- naturally too early. Both must feel very uneasy.

And Yellen must feel uneasy too. She wants out but knows that the financial sector may throw a hissy fit. Of course, in an ideal world she should ignore it, even at the risk of reverberations for the ‘real' economy. But after many years of bad parenting, the financial system is like a spoiled teenager who knows his rich parents will ultimately get the checkbook out rather than see their kid endure any real trouble.

iehi-feed-53664 Sun, 06 Apr 2014 17:26:28 GMT U.S. jobs recovery is near, but hold your applause iehi-feed-53661 Sat, 05 Apr 2014 21:41:34 GMT Renewed estimates of Chinese gold demand - Alasdair MacLeod iehi-feed-53658 Sat, 05 Apr 2014 20:47:14 GMT HFT, Rigged Markets and The Man - Doug Noland iehi-feed-53648 Fri, 04 Apr 2014 14:03:36 GMT Nomi Prins | The Real Vice-President of the United States Is Wall Street ``The Justice Department chose not to criminally prosecute the chairmen from Goldman or JPMorgan Chase (both of whom ranked in the top twenty for Obama's career campaign contributors) or from anywhere else for creating faulty CDOs, trading against them, dumping them on less knowledgeable investors, or otherwise speculating with capital supposedly siphoned off for more productive and less risky purposes.'' ]]> iehi-feed-53641 Fri, 04 Apr 2014 01:34:27 GMT 9 Of The Top 10 Occupations In America Pay An Average Wage Of Less Than $35,000 A Year iehi-feed-53632 Wed, 02 Apr 2014 01:55:42 GMT Yellen Signals Continued Support for low Rates iehi-feed-53629 Mon, 31 Mar 2014 21:45:03 GMT Who is Vladimir Putin?