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Tag Archives: Volcker

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 […]

Derisking the banking system

Senate hearing on prop trading – Feb 2, 2010 Source: PROHIBITING CERTAIN HIGH-RISK INVESTMENT ACTIVITIES BY BANKS AND BANK HOLDING COMPANIES Senate Banking Committee Hearing: Tuesday, February 2, 2010 , 02:30 PM 538 Dirksen Senate Office Building The witness will be: The Honorable Paul Volcker, Chairman of the President’s Economic Recovery Advisory Board. Honorable Neal […]

The Euro “big boy” view of the Obama plan

From Bloomberg… “Florian Esterer, a fund manager at Swisscanto Asset Management, and Dirk Becker, an analyst at Kepler Capital Markets, talk about President Barack Obama’s plan to curb U.S. banks. They also speak with Bloomberg’s Rishaad Salamat about today’s meeting of Group of Seven finance ministers in London. ” Here is the press release from […]

Volcker heavy…

Clipping part of an excellent post from ZeroHedge (ZH) on Paul Volcker and his broader view of the need for reform in the financial sector. ZH extracts the main themes of the proposed reforms from a whitepaper called “Financial Reform – A Framework for Financial Stability” (published January 15, 2009).. Mr. Volcker did this work as […]

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 […]