Special Section - Banking & Finance - Washington Times
Skip to content

Banking & Finance

The latest coverage of the banking and financial sectors.

This May 11, 2018, file photo shows a bitcoin ATM in Hong Kong. (AP Photo/Kin Cheung, File)

Global central bank warns bitcoin could 'bring internet to a halt'

By Dan Boylan - The Washington Times

Unstable pricing, the potential for manipulation and their growing drain on the speed of the internet are casting major shadows over the future of digital currencies such as bitcoin, a major new survey by the Bank of International Settlements (BIS) has concluded. Published June 18, 2018

Recent Stories

President Donald Trump speaks at the beginning of a National Space Council meeting in the East Room of the White House in Washington, Monday, June 18, 2018. (AP Photo/Susan Walsh)

Trump threatens China with additional tariffs

- The Washington Times

President Trump escalated his trade feud with China on Monday night, threatening to impose tariffs of 10 percent on another $200 billion worth of Chinese goods in retaliation for previous tariffs and Beijing's intellectual-property practices.

Chart to accompany Moore article of June 18, 2018.

Fake support for a free market in energy

All of a sudden everyone on the left wants "free markets in energy policy." As someone who's advocated for that for, oh, about three decades (let's start by shutting down the Energy Department), this riff should be music to my ears. But is laissez faire energy policy really what liberals are seeking?

Illustration on world population growth by Linas Garsys/The Washington Times

The discontent of civilization

During the post-World War II decades, global leaders and intellectuals were tortured with the prospect of a planet with too many people to feed, but now the industrialized world is challenged by too few babies and graying populations.

In this Nov. 9, 2017, file photo, U.S. President Donald Trump China's President Xi Jinping arrive for the state dinner with the first ladies at the Great Hall of the People in Beijing, China. (Thomas Peter/Pool Photo via AP, File)

Trump tariffs hit $50 billion of Chinese goods

- The Washington Times

The Trump administration announced Friday new tariffs on $50 billion worth of Chinese goods, intensifying a trade dispute while seeking continued Chinese support in keeping pressure on North Korea.

"The Senate is saying loudly and in a bipartisan fashion that the president is dead wrong to back off on ZTE," said Minority Leader Charles E. Schumer, New York Democrat. (Associated Press)

Senate poised to roll back Trump's ZTE deal

- The Washington Times

The Senate appears poised to take the first major step to rein in President Trump's trade policies, after senators struck a deal Monday on a measure that would block his plans for dealing with Chinese telecom firm ZTE.

Elephant Stabbed Illustration by Greg Groesch/The Washington Times

Deconstructing young minds

Since November 2016, the deep state and its media allies have spent considerable time and money cultivating animus toward President Trump and the Republican-led Congress among younger voters.

Chart to accompany Moore article of June 11, 2018.

Trump's economic boom

The left is quickly running out of excuses for why President Trump's economic policies have caused a boom — rather than the bust they predicted with such great certainty.

Cars go by the scene Monday, March 19, 2018, near where a pedestrian was stuck by an Uber vehicle in autonomous mode late Sunday night in Tempe, Ariz. The vehicle was in autonomous mode with an operator behind the wheel when a woman walking outside of a crosswalk was hit. Uber suspended all of its self-driving testing Monday after what is believed to be the first fatal pedestrian crash involving the vehicles. (AP Photo/Chris Carlson)

The mad money rush to market self-driving cars

- The Washington Times

With self-driving vehicle technology, big bucks are on the line. And in the words of at least one mechanical engineering expert, the rush to produce -- the rush to profit -- is both real and dangerous. Truly, the real winner of this autonomous car race will be the one who forgoes the short-term IPOs for the longer-term of consumer confidence.

FILE - In this Nov. 9, 2017, file photo, U.S. President Donald Trump, right, chats with Chinese President Xi Jinping during a welcome ceremony at the Great Hall of the People in Beijing. Critics fear foreign government favors to Trump businesses have become business as usual. Ethics watchdogs say apparent quid-pro-quo deals are not being stopped by a Republican-led Congress or the courts. (AP Photo/Andy Wong, File)

China moves to cash in after Trump exits Iran nuclear deal

- The Washington Times

China's adeptness at doing business with Iran through state-owned companies not exposed to the American financial systems could make Beijing the big beneficiary of President Trump's move to withdraw from the Iran nuclear deal and reimpose sanctions on foreign companies doing business with Tehran.

Italy Boots the Euro Illustration by Greg Groesch/The Washington Times

How Italy's new government could sink the euro

The European Union's common currency and lax immigration enforcement have done much to smother prosperity and suppress wages for ordinary workers. As in America, the intelligentsia and governing elite drink the Kool-Aid that the robust growth the West enjoyed from 1870s to 1970s was a historical accident and opposition to illegal immigration is anti-growth and racist.

Funding for the Trump Wall Illustration by Greg Groesch/The Washington Times

'The Wall' and the right business decision

Few issues better illuminate the contrasts between the U.S. and Mexico, than do the controversies surrounding the border wall, which President Trump brought to the forefront once again Tuesday when he told rally-goers in Nashville, "I don't want to cause a problem but in the end, Mexico is going to pay for the wall."

President Donald Trump speaks at a rally at the Nashville Municipal Auditorium, Tuesday, May 29, 2018, in Nashville, Tenn. (AP Photo/Andrew Harnik)

Sometimes saving money is scary

It's difficult to imagine that the U.S. Government has more money than it has figured out how to spend, but President Trump wants to give back $15.4 billion of such money and Congress is unhappy about it. This money is in appropriated, but unspent, funding from earlier years.

President Donald Trump speaks during a bill signing ceremony for the "VA Mission Act" in the Rose Garden of the White House, Wednesday, June 6, 2018, in Washington. (AP Photo/Evan Vucci)

Trump sticks to guns as G-7 summit looms

- The Washington Times

President Trump won't back down from his tough line on trade as he heads for a showdown this week with Canadian Prime Minister Justin Trudeau and other allied leaders at the G-7 summit in Canada, the White House's top economic adviser said Wednesday, even as Congress took a step to tie the president's hands on tariffs.

President Obama wanted the Iran nuclear accord so badly that he offered to give Iran access to American banks, an investigation found. (Associated Press)

Obama hid efforts to aid Iran's windfall

- The Washington Times

The Obama administration -- despite repeatedly assuring Congress that Iran would remain barred from the U.S. financial system -- secretly mobilized to give Tehran access to American banks to convert the windfall of cash it received from sanctions relief under the 2015 nuclear deal into dollars, an investigative report by the Senate has revealed.

Make the Deal Illustration by Greg Groesch/The Washington Times

A bleak situation in Puerto Rico gets bleaker

In the early days of the Internet, Despair.com came up with a popular series of "demotivational posters" that spoofed the motivational posters supposed to inspire office workers throughout the 1990s. (Like the kitten who just needs to "hang in there!")

Illustration on Canadian oil infrastructure by Alexander Hunter/The Washington Times

Why foreign spigots are not the answer

After weeks of mounting opposition from the provincial government of British Columbia and environmental activists, the Canadian government announced it will purchase Kinder Morgan's embattled Trans Mountain pipeline, taking on its multi-billion dollar expansion project.

"We can anticipate, at best, a bumpy road to the [negotiations]," said Defense Secretary James N. Mattis, center. He met with South Korea's National Defense Minister Song Young-moo, left, and Japan's Defense Minister Itsunori Onodera for the 17th International Institute for Strategic Studies Shangri-la Dialogue, an annual defense forum in Asia, in Singapore, on Sunday. (ASSOCIATED PRESS)

Mattis: North Korea sanctions could be lifted after summit

- The Washington Times

Defense Secretary James N. Mattis said Sunday that North Korea will receive relief from sanctions only after taking clear and irreversible steps to end its nuclear program, on the heels of President Trump's announcement that his summit next week with North Korean leader Kim Jong-un is back on.

Illustration on the global economic primacy of the dollar by Linas Garsys/The Washington Times

King Dollar -- why the greenback rules the world

For all the talk of America's decline, the United States offers the world one product that no country seems able to replicate — universally accepted money. If a multinational needs cash to drill for oil in Nigeria or rich Indians want to import BMWs, the dollar is often the currency contracted for payment.

Illustration on economic forcasting by Linas Garsys/The Washington Times

Tariff talk trauma

President Trump's second year in office isn't going so well on a number of strategic fronts.

French President Emmanuel Macron, right, and Organisation for Economic Co-operation and Development (OECD) Secretary-General Angel Gurria arrive at the OECD ministerial council meeting on "Refounding Multilateralism," in Paris, France, Wednesday, May 30, 2018. Macron warned against trade wars in an impassioned speech about international cooperation Wednesday, two days before the Trump administration decides whether to hit Europe with punishing new tariffs. (Philippe Wojazer/Pool Photo via AP)

Trump plans to go ahead with steel, aluminum tariffs on EU

- Associated Press

President Donald Trump's administration is planning to impose tariffs on European steel and aluminum imports after failing to win concessions from the European Union, a move that could provoke retaliatory tariffs and inflame trans-Atlantic trade tensions.

The Social Security Administration's main campus is seen in Woodlawn, Md., on  Jan. 11, 2013. (Associated Press) **FILE**

Social Security pays benefits to hundreds of dead people

- The Washington Times

Social Security just can't stop paying dead people. The massive public pensions system will pay millions this year to people it knows are dead -- in many cases, it even has death certificate numbers listed -- but officials can't seem to figure out how to stop outgoing benefit checks, according to a new inspector general's audit announced Wednesday.

Growing Prosperity of Community Banks Illustration by Greg Groesch/The Washington Times

Restoring accountability to the business of banking

On Thursday, President Trump signed the Economic Growth, Regulatory Relief, and Consumer Protection Act — the first significant financial regulatory reform bill to become law since the crisis-era Dodd-Frank Act. Although some may claim this represents an undoing of Dodd-Frank, what the president enacted is far from the anticipated overhaul. Instead, the changes primarily give community banks relief from regulations — which makes sense since they weren't the drivers of the financial crisis and are crucial for economic growth.

Illustration on the effects of recent tax cuts by Alexander Hunter/The Washington Times

Why liberals hate the Trump tax cut

Despite liberal hysterics, Republicans' recent tax cut raised top earners' share of America's tax burden. This seemingly "squared circle" is simply due to a fact true before the legislation and even truer after: Middle- and upper-income earners shoulder the overwhelming tax load. Equally obvious: Even so large a share is not enough for an insatiable left.

Jim Thomas, Dr. Seth Cropsey, Ronald O’Rourke and Dr. Andrew Erickson, discuss the U.S. Asia-Pacific Strategic Considerations Related to P.L.A. Naval Forces Modernization in front of the House Armed Services Committee, in Washington, DC., Wednesday, December 11, 2013.  (Andrew S Geraci/The Washington Times)

The cost of not having a Merchant Marine

Freedom of the seas is critical to America's economic and political security, enabling the transportation of goods manufactured in the United States to other places around the world, and enabling Americans to obtain things otherwise unobtainable here, like bananas every day of every year. What would life be without the freedom to enjoy an occasional banana split?

Recent Opinion Columns

Illustration on Trump's challenge to status quo diplomacy by Alexander hunter/The Washington Times

Trump confronts elites with realism

President Trump is delivering a powerful message to global elites like the World Economic Forum. America First is about unmasking the cynical con the most privileged have played on ordinary working folk.

From The Vault

Bipartisan Act Illustration by Greg Groesch/The Washington Times

Drowning in debt

In "Hamlet," Shakespeare pens one of the most familiar lines — and best advice — ever written. Before Laertes leaves for Paris, his father, Polonius, tells him: "Neither a borrower nor a lender be "