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Tag Archives: Summers

Extend and pretend round II

Ross Levine and Glenn Loury of Brown University argue that the 2007-2009 financial crisis is repeat of the S&L crisis  “extend and pretend” treatment of bank solvency. Expect this to become a meme soon… cause it’s true… And another important critique of extend and pretend at ZeroHedge… a comparison to the Latin debt crisis and […]

Barney Frank, Zhu Min and global hot money flows…

Interesting undercurrents at The Next Global Crisis panel at the World Economic Forum at Davos… Check out the video at 1 hour 10 minutes. You can see the comments of Zhu Min, the deputy governor of the People’s Bank of China (the Federal Reserve of China), as he gives some insight from his part of […]

“Building up another bubble on the bond markets”

“Moral hazard doesn’t exist anymore…”… so sayeth the Euro crowd… President Obama… you’re smart enough to understand “banker code”… call up Adair Turner if you need a decoding kit… This video from Bloomberg shows Karsten Schroeder, chief executive officer of Amplitude Capital LLP, talking about risk-taking by banks and the condition of credit markets.¶ ¶ Central bankers will […]

Healthy Main Street needed…

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 […]