Monetary System

Here’s more from Warren Buffett on CNBC this morning. This time he talks to Becky Quick about ‘Too Big To Fail’. CNBC host Joe Kernen takes sides with the Occupy Wall Street protesters and asks Buffett whether we can regulate them to “keep…

In this interview from late October, Professor Bill Black tells us what he would demand, if he marched with Occupy Wall St. to the New York Fed.

The word is that BofA did in fact consider declaring their Countrywide subsidiary bankrupt to ring fence the rest of the company from Countrywide. It got as far as a board vote this past summer. This Wall Street Journal video discusses…

Politicians, Treasury Secretaries, etc. would have you believe that “moral hazard” is something we should only worry about in the abstract, in the future, when they’ve moved on to another job. But now a study confirms with hard facts: moral…

Here is the list of so-called global systemically important financial institutions by country. Who’s missing in your view?

This post is intended to be a hopefully brief synopsis of how the monetary system works using an Austrian framing with MMT terminology. If you don’t know what that means, you’ll see what I mean as I proceed. MMTers like to say that money…

Sheila Bair argues that Europe's banks are undercapitalised due in large part to regulatory capture.

Here are a bunch of videos and links which update you on MF Global.

There is much truth to the generalization that European banks took on direct exposure to European sovereigns through the bond market, while top banks took exposure through selling insurance, primarily CDS, on the sovereigns. The latest BIS…

In the video below, Bill Black discusses the issues he raised in a recent post about Bank of America’s accounting activities. At issue is the effect of its shift of assets from the holding company to its FDIC-insured subsidiary. In total,…