Thursday, February 18, 2010
Paul Solman of PBS talks to Bill Black, a former bank regulator, about recurrent bank fraud… the still unanswered question is why has no one been prosecuted for financial crimes… I believe this question will increase in importance… Americans have suffered too much and borne too high a price in this crisis… people caused [...]
From the IMF’s World Economic Outlook…
“A Policy-Driven, Multispeed Recovery“…
~~~ “Driving the global rebound was the
extraordinary amount of policy stimulus.
Monetary policy has been highly expansionary,
with interest rates down to record lows in most
advanced and in many emerging economies,
while central bank balance sheets expanded to
unprecedented levels in key advanced
economies. Fiscal policy has also provided
major stimulus in response [...]
Tuesday, December 29, 2009
Three cheers for Arrianna Huffington, political strategist Alexis McGill, filmmaker/author Eugene Jarecki, and Nick Penniman of the HuffPost Investigative Fund… for this great campaign to encourage everyone to move their banking to local banks and credit unions…
From HuffPo — “The idea is simple: If enough people who have money in one of the big four banks [...]
Filed in Creativity, Launching..., Liquidity, Open engines, Recession busters..., Regulatory, Restructuring, Transparency
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Also tagged break up the banks, confidence, Congress, economic justice, economy, too big to fail, Wall Street
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Tuesday, December 1, 2009
Presentation slides[PDF]
Speech by Adair Turner, Chairman, FSA
British Embassy, Paris
30 November 2009
The financial crisis of 2007/08 was the worst for at least 70 years. Economic catastrophe was only prevented by extreme policy responses: even with these responses, the world has faced huge economic cost. We must therefore identify the root causes as well as the symptoms.
To [...]
Sunday, November 15, 2009
Visit msnbc.com for Breaking News, World News, and News about the Economy
Reblog from Jesse’s Cafe….
~~~”Obama has not lost his way. His team led by Summers and Geithner are making the same mistakes that they did in the formation of the first tech bubble in response to the Asian currency crisis and the Russian debt [...]
Saturday, November 14, 2009
Paul A. Volcker In Conversation with Gary H. Stern (President of the Minneapolis Fed), July, 2009
Can we get there?
Stern: So, can we get from here to there, where commercial banks look much more like traditional commercial banks, and we leave things like proprietary trading and hedge fund activity and those kinds of things to other [...]
Tuesday, November 10, 2009
Senate Banking Committee Chairman Christopher Dodd released his version of legislation to reform the financial system today. Here are the summary and full draft.
Dodd bill summary link
HIGHLIGHTS OF THE DISCUSSION DRAFT
Consumer Financial Protection Agency:
Creates an independent watchdog to ensure American consumers get the clear, accurate information they need to shop for mortgages, credit cards, and [...]
Tuesday, November 3, 2009
From Bloomberg on the Royal Bank of Scotland and Lloyds breakups…
~~~ “…It all smells to me a bit of politics and the start of election campaigning,” said Lothar Mentel, chief investment officer at Octopus Investments Ltd., which oversees $2 billion, including a stake in Lloyds. “The government wants to be seen as punishing the banks, whereas addressing [...]