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New York regulators on Tuesday fined Deutsche Bank $150 million for its dealings with Jeffrey Epstein. This came five days after the arrest of Epstein confidant Ghislaine Maxwell on sex trafficking charges.

Axios Re:Cap digs into what secrets Maxwell might know about Epstein's business dealings, and why it's causing some sleepless nights in the Hamptons, with Business Insider's Meghan Morris.

Go deeper

Dan Primack, author of Pro Rata
Oct 13, 2020 - Economy & Business

Leon Black still won't answer questions about Epstein payments

Photo illustration: Sarah Grillo/Axios. Photo: Rick Friedman/Corbis/Getty Images

458 days. That's how long it's been since Axios first asked Apollo Global Management CEO Leon Black to explain why he donated $10 million to Jeffrey Epstein's charity after he pleaded guilty to felony prostitution with an underage girl. Still no reply.

1 day: That's how long it's been since the New York Times reported that the $10 million donation was just the tip of an inexplicable iceberg.

Oct 12, 2020 - Podcasts

Jeffrey Epstein's money trail

Jeffrey Epstein died more than a year ago, but the investigation into how he made his money is heating up. The latest is a New York Times report that private equity titan Leon Black might have paid Epstein to up $75 million over the years, which is much more than was previously disclosed.

Axios Re:Cap goes deeper with Matthew Goldstein, a New York Times business reporter who co-authored today's story.

Felix Salmon, author of Capital
Updated 3 mins ago - Economy & Business

How central banks can save the world

Illustration: Aïda Amer/Axios

The trillion-dollar gap between actual GDP and potential GDP is a gap made up of misery, unemployment, and unfulfilled promise. It's also a gap that can be eradicated — if central banks embrace unconventional monetary policy.

  • That's the message from Eric Lonergan and Megan Greene, two economists who reject the idea that central banks have hit a "lower bound" on interest rates. In fact, they reject the idea that "interest rates" are a singular thing at all, and they fullthroatedly reject the idea — most recently put forward by New York Fed president Bill Dudley — that the Fed is "out of firepower."

Why it matters: If Lonergan and Greene are right, then central banks have effectively unlimited ammunition in their fight to increase inflation and employment. They are limited only by political will.