The European Central Bank President Mario Draghi has mentioned the possibility of using a negative interest rate to stimulate the European economy.  Remarkable.  “The potential move by the world’s biggest custody bank comes after Mario Draghi, president of the ECB, said last week that the region could require “further monetary stimulus” to offset a strengthening euro. If the eurozone were to go to negative rates that would actually present the opportunity for us to charge for deposits and we are giving that very serious consideration,” Todd Gibbons, BNY Mellon’s chief financial officer, said on a conference call as the bank unveiled its first-quarter earnings.” Let this be an opportunity to review what has happened in the past 6 years. Those who were gun slinging, margin debt leveraging, bad mortgage creating, bad mortgage paper bundling, cross collateralizing, rehypothicating of assets people have not only gone...(Read Full Post)