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Rogue Trader
Nick Leeson, the infamous trader whose 1.4B loss led to the collapse of Barings Bank 30 years ago. Leeson reflects on his overwhelming feelings of embarrassment and shame stemming from his role in the bank’s downfall, emphasizing that despite a successful start to his banking career, he ultimately failed to achieve what he wanted.…
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HSBC Shenanigans
In 2012, HSBC Holdings (HSBC), one of the world’s largest global banks, was hit with a $1.9 billion fine for, most notably, serving as a conduit for Mexican drug cartels. The penalty, which was coupled with $665 million in civil penalties, exposed severe problems with the bank’s compliance and anti-money laundering (AML) controls. It ranks…
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Fed Chair vs. The World
Speech starts at 10:45 Jerome H. Powell, Chair of the Federal Reserve, addresses the Economic Club of Chicago, discussing the current economic outlook and the Fed’s dual mandate of maximizing employment and ensuring price stability. Powell outlines the resilience of the U.S. economy despite heightened uncertainties, acknowledging challenges arising from trade policy changes, inflation concerns linked…
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Selling Fear
“I Worked At Palantir: The Tech Company Reshaping Reality” delves into the controversial role of Palantir Technologies in government surveillance and military operations, highlighting its ambition to dominate defense contracting while grappling with ethical implications. The host reflects on Palantir’s evolution since its inception in the post-9/11 era, connecting it to the normalization of government surveillance and…
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College Sports and Contracts
“How Money Has Permanently Changed College Basketball” delves into the profound effects of Name, Image, and Likeness (NIL) on the sport, noting a shift in recruitment practices as teams leverage collective funds to financially incentivize players, leading to concerns about competition dynamics and the integrity of the game. Coaches are retiring due to the increasing pressures from…
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Econ in 20 minutes
tl;dr: great video on theories why humans make “bad” choices over and over again.
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What the Ship?!
Sal Mercogliano — a maritime historian at Campbell University (@campbelledu) and former merchant mariner — discusses US Tariffs with China and other countries; US Walks Out of IMO Climate Meetings; US, Panama, and CK Hutchinson; US Trade Representatives and Port Fees; and Red Sea.
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Debate
Larry Summers critiques the current tariff strategies, comparing them to dangerous work with a sledgehammer on a sensitive global economic machine. He highlights that various tariffs remain in place, including significant structural ones, and discusses the potential economic damage estimated by market reactions, suggesting a loss of around $30 trillion. Summers warns that these tariffs…
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Thiel on Tariffs
VC and Conservative/libertarian benefactor Peter Thiel on tariffs.
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What Causes Recessions
The four major theories of business cycles in relation to the Great Recession of 2008: Keynesian theory, real business-cycle theory, monetarist approaches, and the Austrian School of Economics. Each theory offers a unique perspective on the causes of the recession. Keynesian economics attributes the recession to a shortfall in aggregate demand, while real business-cycle theorists…
Got any book recommendations?