Bank of America’s $2.8 trillion wealth management CIO reveals his biggest market fear, which he warns could trigger the next recession if left unchecked

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Non-bank firms are now big players in America’s mortgage marketHousing finance has taken down America's economy twice in the past 30 years As all extensions of credit swell the supply of money (at least until repayment is due) this concern reflects doubt: can nations govern the independent power of money, so that credit bubbles don't implode? Hist of past half-century offers little reassurance they even know how Now that banks aren't required to hand out loans (backed by taxpayers) to those who can't repay them, we should be in better shape. Housing real estate is way over priced in the USA.
Source: TheEconomist - 🏆 6. / 92 Read more »

Germany ramps up steps to seek merger between battered bank giants Deutsche Bank and CommerzbankThe German finance ministry asked the banking regulator to share the results of its analysis of a potential merger between Deutsche Bank and Commerzbank. 🤣
Source: BusinessInsider - 🏆 729. / 51 Read more »