Nixon convinced Fed Chair Arthur Burns, seated left, to lower interest rates, helping him win re-election in 1972.
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President Trump has been attacking the Federal Reserve for months and appears intent on nominating political allies to its board. An economist explain what typically happens next.
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Revolut recently got an EU banking licence from Lithuania but it’s facing some political headwinds.
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Some banks are moving their operations out of London. Others are moving in to serve British clients they might not be able to reach from the EU.
Why not give bankers conditional bonuses, paid out only after they have retired scandal-free?
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Conditional superannuation which can we withdrawn years after bankers retire might be the best way to get them to do the right thing.
First up before the Royal Commission on Monday will be the chief executive of the Commonwealth Bank. The era of the big four banks might be ending.
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The economic underpinnings of the longstanding ‘four pillars’ policy are crumbling. Soon there may no longer be four big banks.
Taking banks to court might be crowd pleasing, but not the best use of ASIC’s resources.
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ASIC is under pressure to take every significant case to court. But that would delay justice and break its budget.
Danske Bank is under investigation for money laundering.
EPA-EFE/VALDA KALNINA
Denmark’s biggest financial institution has admitted that around €200 billion of questionable money flowed through its Estonian branch from 2007-15.
Iceland erupts in 2009. Then came repercussions.
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Ten years on from global crisis, look to a little nation that had some big ideas.
It isn’t brain surgery.
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Getting better behaved banks isn’t difficult. Here are three places to start.
Putting people rather than profits at the centre of banking culture is possible, but difficult.
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In his three volume 1,000 page interim report Commissioner Hayne has built an irrefutable case for root and branch reform.
bank cards.
Royal Commissioner Kenneth Hayne is arguing for less and clearer law, and tougher corporate cops.
Royal commissioner Kenneth Hayne is presiding over an inquiry that will cast a very long shadow.
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The banking royal commission’s most enduring legacy might be the cancer of too much caution throughout the financial services sector.
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The housing bubble that burst and triggered the 2007-08 global financial crisis was fuelled by securitisation.
Christie’s auctions off a Lehman Brothers sign in 2010.
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It’s when times are good that the seeds of the next financial crisis are sown.
The AMP began life as a mutual, somewhere for its members to put their savings.
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Parallels in the historical trajectory of AMP and IOOF are striking. Both were founded in the 1840s. Both demutualised, and now both find themselves centre stage at the banking royal commission.
It’s about to become easier to steal money. We’ll have become more vigilant.
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It’s becoming easier to steal big licks of money through the financial system. We’ll have to be less trusting.
Kweku Adoboli was convicted in 2011.
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One person should not bear sole responsibility for a loss of US$2.3 billion at a global financial institution employing 65,000 people.
The financial system is awash with money, which is why interest rates have been so low for so long.
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It’s been 10 years since the U.S. signed into law a scheme to print money, essentially, and save the financial sector amid the sub-prime mortgage meltdown. Did it work? And who’s truly benefitted?
Some financial institutions might become simply ‘too big to manage’ as well as ‘too big to fail’.
AAP
Researchers found that larger banks are more likely than their smaller peers to experience “operational losses”, which includes a failure to meet obligations to clients.
Start-ups funded via business loans tend to outperform those using personal loans or having no loans at all.
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Start-ups funded via business loans can outperform those using personal loans or only equity.