accounting

Wow! Just came across this piece from the FT about the concerns of the International Accounting Standards Board (IASB) of how European financial institutions have not reserved enough against potential credit losses on their Greece sovereign…

For ideological reasons, one might believe that limiting or reducing government is better. However, it does not follow that doing so is a painless exercise.

In China, the persistence of inflation pressure has brought “shadow banking” into a topic of hot debate recently. According to a study issued by the People's Bank of China in 2010, non-banking sector lending has expanded to 63.3 trillion…

Randall Wray revisits the Clintonian Goldilocks economy to find the seeds of the Global Financial Crisis, using the sectoral balance approach.

To sum up: Non-performing loans look to be a full 10% of Chinese GDP. That’s high. The Chinese government is confronting this writedown problem head-on. While a number of analysts have opinions on the measures just taken, it is far from…

The pension costs of states and municipalities in years hence are often stated in a calculation of future liabilities. For instance, the future obligations of state and municipal pension funds are calculated (in frequently cited studies) at…

 Speech by Janet L. Yellen, Vice Chair of the Federal Reserve, at the University of Chicago Booth School of Business U.S. Monetary Policy Forum, New York, New York - February 25, 2011.  Cross post from Global Economic Intersection. The…

Here is a good video from Bill Black on the origins of the Savings & Loan crisis in the U.S. The roots of the crisis go back to the stagflation of the 1970s when interest rates spiked under Paul Volcker. As S&L's borrowed short and…

By William K. Black (cross-posted with Benzinga.com) Honest accounting is essential for effective regulation – and for integrity. It is also very helpful to prosecuting accounting fraud. The banking industry lobbyists, including the…

Former Atlanta Fed President William Ford says, technically, yes, the Fed can go bankrupt. He argues that the Fed's balance sheet is highly leveraged as a result of quantitative easing expanding its balance sheet. The result is that the…