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Browsing Category
Economy
So what are banks for, anyway?
This is a post which I originally published at New Deal 2.0. Ed mentioned yesterday in his post Credit crises, market equilibrium, economic policy and fiat currencies that both the neoclassicals and the Obama Administration believe the…
Sheila Bair blames the Fed for the credit crisis
Sheila Bair is a straight shooter. And as such, she laid it on the line today in her prepared remarks before Congress. Her remarks were on the money on several counts. I will highlight just a few with commentary followed by the…
Average jobless claims continue down but data mask problems
From the U.S. Department of Labor: In the week ending Jan. 9, the advance figure for seasonally adjusted initial claims was 444,000, an increase of 11,000 from the previous week's revised figure of 433,000. The 4-week moving average was…
FDIC looks to reign in compensation via insurance levy
FDIC Chairperson Sheila Bair has released her own proposal to compete with a recently floated proposal for a tax on bank compensation. Her proposal calls for linking compensation with FDIC insurance levies as a means of aligning…
Graphic: Unemployment – State by State
This comes from Kiplinger (click to enlarge). Not only does this graphic break down where the trouble spots are for jobs today, it gives you a historical perspective as well. It looks like the Southeastern seaboard and the west coast are…
SEC may limit disclosure on AIG until 2018
Reuters reporter Matthew Goldstein has this breaking story: It could take until November 2018 to get the full story behind the U.S. bailout of insurance giant American International Group because of an action taken last year by the…
Black and the AIG cover-up of the cover-up of the cover-up
I had originally looked to add this video to the last post on Black about the federal reserve. But the video here showing Black speaking to Bloomberg News about the recent AIG scandal and financial regulation deserves a post of its own.…
China takes steps to prevent overheating
China has been very successful in maintaining GDP growth in the midst of one of the worst global downturns on record. In 2009, the concern was how an export collapse would trigger slow growth and unemployment. But as 2010 begins, for…
The Federal Reserve’s War Against Effective Regulation
This post by Bill Black originally appeared at New Deal 2.0. William K. Black is an Associate Professor of Economics and Law at the University of Missouri-Kansas City. He is a white-collar criminologist and was a senior financial regulator.…
The Chinese bubble economy
The well-regarded and surprisingly independent Beijing-based media outlet Caijing is no more. The site is up, but the content is frozen in time, nothing having been written since early November. Happily, Caijing editor Hu Shuli has now…