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deriatives

No Surprise, Wells Fargo

By |2017-07-28T14:13:12-04:00July 28th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

In September 2016, Wells Fargo fired 5,300 employees. These sorts of mass layoffs have become common in banking throughout the post-crisis era, especially those years of the “rising dollar.” This was different, however, as Wells was not cutting back in capacity but dealing with the aftermath of being far too aggressive. These employees were found to have opened secret and [...]

The Eurodollar’s Soul; Part 2

By |2017-05-02T17:15:44-04:00May 2nd, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Part 1 is here. The story of the asset bubbles is one of eurodollars alone. We can tell so much of the history of the past few decades by examining its pieces. The primary component has been derivatives, these financial instruments that are largely misunderstood shrouded often by what can appear to be incomprehensible complexity. That their own purveyors more [...]

The Eurodollar’s Soul; Part 1

By |2017-05-02T17:16:26-04:00May 2nd, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

You could say that SunTrust dodged a bullet. The Georgia bank was itself an amalgam of smaller banks cobbled together during the deregulation of the 1980’s. On the one side were the Florida subsidiaries based in Orlando, what came to be known as the Sun Bank. On the other was the Trust Company of Georgia, both coming together in 1985 [...]

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