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Browsing Category
Monetary System
Leading PIIGS to Slaughter
The question of fiscal sustainability looms large at the moment - not just in the peripheral nations of the eurozone, but also in the UK, the US, and Japan. More restrictive fiscal paths are being proposed in order to avoid rapidly rising…
The fake stress tests and the coming wave of second mortgage writedowns
About a month ago I wrote a post called “The coming wave of second mortgage writedowns” the gist of which was that the big four banks (Citi, JP, BofA, and Wells) had a shed load of exposure to now worthless second mortgages. With many first…
Replacing market failure with regulatory failure
This is the fifth in a series of posts about ideas for financial reform generated by the “Make Markets Be Markets” conference I attended yesterday in New York City on 3 Mar 2010. You can download all of the written presentations here.…
Wall Street barred from European bond sales in retaliation for credit crisis
We have a bit of a divide developing between the EU and the U.S. on banking and bank reform. The most significant move in this tiff has come in retaliation for Wall Street’s role in helping countries like Greece hide their debt burdens.…
Ratigan: On financial reform, the joke is on us
This is the fourth in a series of posts about ideas for financial reform generated by the “Make Markets Be Markets” conference I attended yesterday in New York City on 3 Mar 2010. You can download all of the written presentations here.…
The Obama Administration’s victory lap
I know I shouldn’t beat this dead horse but I can’t help myself. Just this past Friday, when describing Andy Xie’s hopeful tone in sensing a change of the short-sighted and ruinous mindset that was driving policy makers in the U.S., I…
Geithner: jusqu’ici tout va bien
You remember those stress tests the government conducted at the largest too-big-to-fail financial institutions. They have long since been forgotten. But, they are a relevant topic of conversation because some of the policy makers’ thinking…
Consumer Protection: Complexity is the handmaiden of deception
This is the third in a series of posts about ideas for financial reform generated by the “Make Markets Be Markets” conference I attended yesterday in New York City on 3 Mar 2010. You can download all of the written presentations here. A…
What is Up with Fed Funds?
The federal funds rate has been creeping up in recent days. At first, many dismissed it as a technical quirk. In early February, the effective federal funds rate firmed to 14 bp as it did in early March. However it did not…
Make Markets Be Markets: The Report
This is the second in a series of posts about ideas for financial reform generated by the “Make Markets Be Markets” conference I attended yesterday in New York City on 3 Mar 2010. Below is a compilation of all the ideas for financial…