On July 31, 2014 Adam Ludwin, Devon Gundry and Ryan Smith–no-names in the world of finance–walked into a windowless conference room in a Los Angeles office building near LAX and sat down on black leather executive chairs at a mahogany table that could seat 12.
The world’s biggest banks may gain greater flexibility in meeting new crisis rules as the Financial Stability Board adjusts its total loss-absorbing capacity proposal to eliminate bias against decentralized lenders and opportunities for regulatory arbitrage.
Pigs still can’t fly and hell hasn’t frozen over, but interest rates have gone negative, and that’s weird enough. In early March, about a quarter of the debt issued by euro zone governments traded with negative yields.
I have a lot of bad habits. For example, I tend to bite my nails when I get stressed out. I also have a penchant for opening the cupboard to get a drinking glass — then walking away and leaving the door wide open. I know. I can’t explain it either.