Monetary System

In November 2008, the SEC approved a request by American International Group (AIG) to keep secret until November 2018 documents which reveal securities behind the brewing scandal over its bailout by the Federal Reserve. A copy of the…

I re-posted my April 2009 post, “Barack Obama as Herbert Hoover” in response to the recent deficit reduction gimmick offered up by the Obama Administration and Marshall’s similarly titled “Barack Hoover Obama.”  The point of my post…

Every instinct the President has honed, every voice he hears in Washington, every inclination of our political culture urges incrementalism, urges deliberation, and an abundance of caution, particularly in regard to our “unsustainable…

Edward Hugh here. This is a post which was originally published at A Fistful of Euros. Sometimes it surprises me what some people consider to be news. Tony Barber points out today in the FT Brussels blog that the EU has the power to mount…

I love this quote from Thaler on how, when and why the economics profession will change: Thaler: What is the old line—that science progresses funeral by funeral? Nobody changes their mind. What will happen is that the economists are…

Marshall Auerback here again.  A lot of good questions surrounding my piece on the euro. Many of them seem to revolve around the issues of why the euro gets weaker when national governments deficit spend, and the issue of whether my…

Marshall Auerback here with a post which I originally published at New Deal 2.0. I wrote an earlier post called Spain: Deficit Terrorism in Action to explain some of the institutional flaws at the heart of the euro zone.  This post…

This is pretty major stuff: Goldman recorded negative compensation in Q4 as zero bonuses are accruing for the quarter. Reuters says: The bank recorded negative compensation expense in the fourth quarter because of the contribution to…

The Big Picture has picked up on what appears to be an interesting development over at the NBER’s site. It seems like they are hedging there bets on a possible double dip recession beginning in late 2010 or 2011. As you may know, the NBER…

Today President Obama is set to propose wide-ranging moves on bank regulation first proposed by his economic advisor Paul Volcker, the former Federal Reserve Chairman. Details of the proposal have yet to be released. However, the focus is…