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Browsing Category
Monetary System
Stephen Colbert: The Word – Honor Bound
This has been making the rounds. Colbert at his best.
So what are banks for, anyway?
This is a post which I originally published at New Deal 2.0. Ed mentioned yesterday in his post Credit crises, market equilibrium, economic policy and fiat currencies that both the neoclassicals and the Obama Administration believe the…
Sheila Bair blames the Fed for the credit crisis
Sheila Bair is a straight shooter. And as such, she laid it on the line today in her prepared remarks before Congress. Her remarks were on the money on several counts. I will highlight just a few with commentary followed by the…
Credit crises, market equilibrium, economic policy and fiat currencies
In the wake of news about President Obama’s new Too Big to Fail Tax and Barry Ritholtz’s post on it, I had an in-depth conversation on the issue with a whole group of people, including Barry. Most of the group was all for the tax. I…
Revisiting the sectoral balances model in Japan
On a number of occasions, I have pointed to the sectoral balances model of finance to help demonstrate what happens when the government sector runs a deficit or a surplus. A recent article in the Financial Times by Martin Wolf on Japan’s…
FDIC looks to reign in compensation via insurance levy
FDIC Chairperson Sheila Bair has released her own proposal to compete with a recently floated proposal for a tax on bank compensation. Her proposal calls for linking compensation with FDIC insurance levies as a means of aligning…
SEC may limit disclosure on AIG until 2018
Reuters reporter Matthew Goldstein has this breaking story: It could take until November 2018 to get the full story behind the U.S. bailout of insurance giant American International Group because of an action taken last year by the…
Black and the AIG cover-up of the cover-up of the cover-up
I had originally looked to add this video to the last post on Black about the federal reserve. But the video here showing Black speaking to Bloomberg News about the recent AIG scandal and financial regulation deserves a post of its own.…
The Federal Reserve’s War Against Effective Regulation
This post by Bill Black originally appeared at New Deal 2.0. William K. Black is an Associate Professor of Economics and Law at the University of Missouri-Kansas City. He is a white-collar criminologist and was a senior financial regulator.…
Looking at structurally high unemployment as recalculation
Unadjusted jobless claims after the holiday season are always monstrous because of seasonality. Last week 645,571 people filed initial claims for unemployment insurance in the United States. That is down from the 731,958 who filed at…