Auerback on Fed’s manipulations & China, Roche on US uptick
American ‘banking’ exceptionalism – BNP Paribas is being investigated for laundering money for the Sudanese and Iranians in contravention of US law. Now the US wants it to pay $8 to $9 billion for its legal transgressions. Erin Ade gives her take. Cullen Roche talks about the US economy and the signs revealing a distinct spring and summer thawing. Marshall Auerback of the Institute for New Economic Thinking gives a skeptical take on the Fed’s market manipulations, as well as how to read the slowdown in China. In Big Deal, Erin and Edward Harrison talk about Iraq - is this even an economic story or just a political one?
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