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Political Economy

Liquidity

This is a re-post that I hope serves as a reminder that although we are NOT talking about a liquidity crisis in the financial sector, but rather a solvency crisis, liquidity remains very much a concern. This post, despite being 6 months…

Mark-to-market is dead

This comes via Marc Chandler of Brown Brothers Harriman and is an even-handed review of what just happened: As widely expected FASB modified fair value accounting rules. The key seems to be for assets for which there is not a market. The…

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