Skip to content

Tag Archives: crisis

Casino capitalism has devastating effects on the real economy

From The Harvard Law School Forum on Corporate Governance and Financial Regulation Luis A. Aguilar is a Commissioner at the U.S. Securities and Exchange Commission. This post is based on Commissioner Aguilar’s remarks at the recent SEC Speaks conference. ~~~ ” … The recent crisis made clear that the financial sector was, and remains, dangerously exposed to […]

Recurrent bank fraud

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 the […]

California is 1/8 the economy

From Jesse’s Cafe a useful view into the relative contribution of states to GDP… Who will backstop California?

Banqueros en acción

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 […]

California = Libya

Household leverage and thin ice

I’m attending a conference at the IMF on “Financial Frictions and Macroeconomic Adjustment” First panel: Panel Chair: Jonathan D. Ostry (Deputy Director, Research Department, IMF) First paper: Household Leverage and the Recession of 2007 to 2009 Atif Mian (University of Chicago and NBER) and Amir Sufi (University of Chicago and NBER) Discussant: Kevin Lansing (Federal Reserve […]

When central banks crack down, “financial instability” will ensue

Amazingly asset prices around the world have surged and some central banks are raising rates to “manage” potential asset bubbles… Bloomberg reports that the Bank of Isreal and Norges Bank may raise rates this week… this follows the actions of the Reserve Bank of Australia raising rates in September… Several points: 1. Global economic growth has […]

Ode to Jackson Hole

This is a repost from Shopyield, August 24, 2008 at the time of last year’s Jackson Hole conclave… here is Chairman Bernanke’s speech from the event this year … ~~ “None of them knew the color of the sky. Their eyes glanced level, and were fastened upon the waves that swept toward them. These waves […]

Vigilante silencioso

From Chicago Public Radio… This American Life… ~~~~ Since Congress hasn’t held 1930’s-style hearings into the causes of the financial crisis, we stage one of our own.  The subject? The regulators and watchdogs who were supposed to be overseeing the banks and the finance industry—to make sure things wouldn’t blow up like they have.  Clearly […]

The list

Outstanding resource from the Columbia Journalism Review… this is a compilation of business articles leading up to the financial crisis…   Click here to download… ~~~~ “Compiled by the staff of The Audit, the business-press section of the Columbia Journalism Review, the List is intended as a companion to “Power Problem,” a 6,400-word article in CJR’s May-June issue […]