Monetary System

CNBC says that Wall Street bonuses will likely be down this year as much as 20% across the board. Take a look.

Dan Alpert, managing partner at Westwood Capital, thinks that banks are under-reserving and that this will come back to haunt them when house prices fall in "the final leg down" of the housing crisis.  That is the right view…

by Annaly Capital Management The title of this piece is strange but true. The FDIC released its Quarterly Banking Profile for the 3rd quarter of 2010 this morning, trumpeting $14.5 billion in profits (up from only $2 billion in the year…

I was eavesdropping on a conversation about Credit Writedowns on another blog (Pragmatic Capitalism) and wanted to share some of my thoughts with you on the conversation. One commenter, Mattay said: Harrison is an MMTer. As I read him,…

Jonathan R. Laing reports in Barrons that the exposure of U.S. banks to liability for putbacks of defective MBS (mortgage backed securities) is greater than the $52 billion reported last week from the findings of the COP (Congressional…

A cross post by Rick Bookstaber which originally appeared on his blog. My last post posited a future world where technology-driven production and consumption lead to a secular drop in demand, and with it a drop in employment, resulting in…

by John Lounsbury Buried 72 pages deep in the latest COP (Congressional Oversight Panel) Report is the following table: (Click on table for larger image.) The significance of this table is explained in the report: The…

by Claus Vistesen I don't suspect anyone remember part 1 of this series. So if you want to refresh your memory, you can have a look here. In that note, I covered some of the more theoretical issues in the form of how demographics might…

Randall Wray shows that quantitative easing will be ineffective except to the degree it can induce a shift in private portfolio preferences. He uses a recent post by hedge fund manager Warren Mosler to demonstrate that QE is the equivalent…

A first look at why Ireland has gone to the heights and crashed spectacularly, and what options it has that other nations in crisis have used successfully.