April 2010

Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). Problems of state and municipal finance worsen. Governors announce new…

The following is a guest post by Polyvios Petropoulos, a former university professor of economics and management in the US. Petropoulos contends that, since the IMF charges a maximum rate of 3.5% in other interventions, one would expect…

German Chancellor Angela Merkel is feeling pressure to force German banks to take a haircut on Greek debt by both her own party and opposition leaders (like Frank-Walter Steinmeier, the former Vice Chancellor and now head of the opposition…

Highlights The US dollar has recovered from the decline seen in North America yesterday against the major European currencies.   The take away from the price action is not however one of consolidation, but rather that good dollar…

SocGen's Albert Edwards was out with a note today which is in line with my calls for a marked slowing of the economy toward the end of this year. He indicates that the rate of change in leading indicators in the real economy and in markets…

Below are the prepared remarks of Goldman's CEO Lloyd Blankfein for his testimony tomorrow before the Senate Subcommittee on Investigations. Fabrice Tourre will also testify. Chairman Levin, Ranking Member Coburn and Members of the…

This is what you need for inspiration. You can do it, Herman van Rompuy -  Eye of the tiger!

he money that the government spends on a failed modification goes to banks, not homeowners. Typically, the government will have substituted an FHA insured mortgage for the original mortgage issued by a bank. This means that when a…

This past weekend, German and French government officials took a hard line on aid to Greece, sending 10-year Greek bond yields to 12-year highs above 9%.  According to the Wall Street Journal,the spread in yields between 10-year Greek…

This is a post by Bill Black and Eliot Spitzer which originally appeared at New Deal 2.0. Bill Black is an associate professor of economics and law at the University of Missouri – Kansas City (UMKC). He was the executive director of the…