One year ago, when Deutsche Bank was sliding on concerns about its bad loan book, Germany's Bremer Landesbank which at the time had €29 billion in assets, saw its bonds plunge overnight when concerns emerged about an imminent failure by the German lender.
One week ago, we reported that UBS has some "very bad news for the global economy", when we showed that according to the Swiss bank's calculations, the global credit impulse showed a historic collapse, one which matched the magnitude of the impulse plunge in the immediate aftermath of the financial crisis.
But why is the credit impulse so critical?
Two familiar names are in the news this morning, after the UK's Serious Fraud Office filed criminal charges against Barclays Plc and four former executives, including former CEO John Varley, for conspiracy to commit fraud regarding the bank’s 2008 capital raising from Qatar. The SFO said Tuesday that former Chief Executive Officer John Varley, former chairman of investment banking for the Middle East Roger Jenkins, ex-deputy head of investment banking Richard Boath and ex-wealth chief Thomas Kalaris face charges along with the bank.
Here is the latest post from The Institutional Risk Analyst -- Chris
“Markets go up on an escalator, they come down on an elevator. This is the most hideously overvalued market in history.”
David Stockman
It’s no secret that Wall Street lives in constant fear of Silicon Valley. Bank CEOs probably wake up in a cold sweat after imagining that their clients have handed their money to some new startup that’s found a way to disrupt a financial service like, say, wealth management.