The current crisis (?) is another step in banking’s progress towards an evolutionary dead end. The future doesn’t need banks. It will need smart risk takers, and new ways to originate and distribute risk.. an opportunity for banks clever enough to evolve!
Part 2 of the London Rent Crisis. London, and whole UK housing market, is broken. Demand greatly exceeds supply allowing rotten greedy landlords to game the system and abuse tenants. Can it be fixed – absolutely…
Outrageous rental increases and the naked greed of professional landlords will result in a dearth of young workers priced out of London. It will destroy the City’s economy and negatively impact the UK even more conclusively than the Luftwaffe, political mistakes, global banking crisis, pandemic or recession.
Just how vulnerable are banks to further contagion and crisis? With inflation still running loose, central banks still set to hike, while consumer and corporate pressures mount, the banking crisis may only just have started.
The “rescue” of Credit Suisse, thereby averting a European banking crisis, is getting less comment than the nixing of its $17.5 bln of CoCo Bonds. I’ve been warning about CoCos since 2011. Finally I got something right!
Central Banks face a mighty challenge persuading markets and depositors the banking system is stable. The war between chaos and order in markets has turned hot. At stake is the stability and future of the global economy. Anyone for the last few choc ice?