Bank Behind World’s Largest Money Laundering Scandal Offered Russians Gold Bars To Hide Their Fortune
Greed is responsible for much sorrow. The Bible says in 1 Timothy 6:10, “the love of money is the root of all kinds of evil.” But is greed only about money? No. Greed goes much further than money. What is greed exactly then?…
German Finance Minister Publishes New Banking Union Plan To Save The EU (And Deutsche Bank)
Less than a year after his finance ministry failed to broker a merger between Commerzbank and Deutsche Bank in a bid to rescue the flailing German lending giant (Deutsche) and create a new national champion (or so he hoped), German…
DoJ Strikes Deal To Recover $1 Billion From Mysterious Fugitive Mastermind Behind 1MDB Fraud
Several of its employees have been arrested, and a former top banker has already pleaded guilty and agreed to cooperate with prosecutors. The U.S. Justice Department has struck a deal with fugitive financier Jho Low – the mysterious financier who allegedly masterminded…
U.S. Shale Braces For Brutal Earnings Season
A lot of big names will report third-quarter earnings this week, and the results are expected to be worse than the same period in 2018. The timing comes as the shale sector is facing somewhat of a reckoning. After years of…
Goldman Sachs Banker Arrested For Insider Trading Scheme
Goldman Sachs has avoided staying out of the insider trading spotlight for about a year. But on Friday, new court documents reveal that an investment banker at the firm’s New York branch was arrested for his alleged involvement in an insider trading…
Investors Panic-Sell Saudi Stocks As Bear Market Erupts
Paul wants to steer Timothy away from that trap. In doing so, he tells him the real source of “great gain;” namely, godliness with true contentment (verse 6). Contentment, in a biblical sense, is the recognition that we come into…
The Beginning of the End: Great Recession 2.0 is Obscured but Here!
The Great Recession never ended. I say that because the deep economic flaws that caused it was never corrected. All recovery efforts since merely clouded our eyes to the problems growing larger around us, even making them worse, and now…
Financial Storm Clouds Gather
Greed and a desire for riches are traps that bring ruin and destruction. “The love of money is a root of all kinds of evil,” and Christians are warned, “Do not put your trust in wealth” (see 1 Timothy 6:9-10, 17-18). Covetousness,…
These Are The Banks Where The Fed’s $1.4 Trillion In Reserves Are Parked, Big Trouble-Birth Pains
Over the past few days there has been much confusion over the repocalpyse that shook the overnight funding market, and just as much confusion over the definition of reserves which some banks were unwilling to part with, other banks were desperate for,…