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Browsing Category
Monetary System
Why was AIG rescued after Lehman had failed?
According to former German finance minister Peer Steinbrück, AIG's rescue had a lot to do with European pressure. Steinbrück: The investment bank Lehman Brothers collapsed on Sept. 15, 2008, and the world's largest insurance company,…
Rumors on the PBoC deregulating Chinese bank deposit rates
by Michael Pettis After three weeks of traveling it is good to be back in Beijing, even though now I have to work through the mountain of very fattening mooncakes my very kind students have given me for Mid-Autumn Festival Day. While…
Why aren’t we using monetary policy to stimulate aggregate demand?
As is often the case, the genesis of this post is a conversation initiated by Edward (Harrison) on the question of why we aren’t using monetary policy to stimulate aggregate demand. That question was posed here by Tyler Cowen at Marginal…
The Big Interview with David Stockman
David Stockman was Ronald Reagan's first Budget Director. He left the political world for things like Private Equity. Lately, he has been making headlines for his statements regarding the economy and fiscal matters. He says "In some…
A Trio of Bank Ratios
by Annaly Capital Management Lest anyone think we missed it, on August 31st the FDIC put out its Quarterly Banking Profile for the second quarter of 2010. The headline was glowing: “Quarterly Earnings Are Highest in Almost Three Years.”…
Despite the propaganda machine’s attempts to label TARP a success, it was not
A friend who is a well-connected Washington insider sent me the text of a piece by Ben Smith on how successful TARP was late last night, asking: This is the first mention I’ve seen in the more mainstream media. Anybody raise this in…
Basel III To Tighten Capital Requirements – Eventually
by John Lounsbury The BIS (Bank for International Settlements) reported Sunday that it has reached an agreement to increase key capital ratios for banks. The announcement was made by the Group of Governors and Heads of Supervision, the…
Meredith Whitney on C-Span
This is an interview Whitney did on C-Span last week. It runs an hour and therefore gives you a very comprehensive look at her views on the financial sector and the economy. Enjoy.
Secrets of the Moneylab
Kay-Yut Chen and Marina Krakovsky have earned their colours as behavioural economists at Hewlett Packard in the HP Labs and in in their new book Secrets of the Moneylab they present the gist of their research over the past 20 years.…
On Creators of Currency and the Sovereign Debt Crisis
When people talk about the recent sovereign debt crisis they make a lot of sweeping statements about debt and currency which allow them to make false analogies. This does us all a disservice because it creates a false impression about the…