Hard LendingClub: Fallout From P2P Scandal Results In Another Resignation; John Mack Is Dragged In
The bad news for Hard LendingClub (or perhaps it is LendingClubbed) just keeps on coming.
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Panama Papers Reveal Global Cash Stash Of Elites
A huge database of leaked “Panama Papers” containing more than 200,000 offshore entities set up by the rich and wealthy elite of the world is to be made public on Monday. The leak is set to go live at 2:00 p.m. Eastern time. The searchable database includes more than 200,000 offshore companies managed under Panamanian law firm Mossack Fonseca.
Biotech-Buying Spree Helps Stocks Shrug Off China Crash, Commodity Collapse, & Credit Crunch
There is some serious turmoil going on in credit, commodities, and FX.. but stocks shurugged it all off because jobs were shitty enough to warrant a bid??
The Problem Of Excessive Optimism
Submitted by Lance Roberts via RealInvestmentAdvice.com,
Commercial bankruptcies are skyrocketing, oil prices have collapsed, profits have declined and Central Banks globally are pushing negative interest rates in hopes of keeping economies afloat. At any other point in history, such a combination of events would have investors scrambling for cover as market prices fell.
Morgan Stanley: "Creative Destruction, Once The Backbone Of Capitalism, Is No Longer Considered"
The following brief comment by Morgan Stanley's chief FX strategist Hans Redeker is one of the best summaries of the sad state the centrally-planned world finds itself in after 7 years of constant central bank manipulation to push risk assets higher no matter the cost.