Greek Woes
Sunday Greek deputy Prime Minister Pangalos told a local paper that in theory debt restructuring should not be completely ruled out, though the deficit would need to be dealt with first. He argued against "demonizing" debt…
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Browsing Tag
crisis
No Mr. President, Larry Summers Did Not Resolve the Financial Crisis for a Pittance, He Just Papered…
by William K. Black 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. He is the author of The Best Way to Rob…
Heckuva Job, Larry
On Comedy Central, the joke was on President Obama Wednesday night. The president had come, on the eve of what will almost certainly be the loss of his governing majority, to plead his case before Jon Stewart, gatekeeper of the…
BBVA complains about subsidy for loss-making Spanish Cajas
The problem with bailouts is that they allow companies with either poor economics or weak financial structures to compete on a more level playing field with stronger competitors. The bailouts are like a subsidy which gives an unfair…
Bloomberg Freedom Of Information Act Lawsuit Goes To Supreme Court Without Fed
In November of 2008, I reported a lawsuit brought by Bloomberg News which requested the Federal Reserve disclose which securities it had accepted on behalf of taxpayers as collateral for $1.5 trillion in loans to banks during the…
An update on asymmetric information and corporate governance in bank bailouts
Last June I wrote a post on the topic of corporate governance that pointed to one of only two outcomes as the likely result of the bank bailouts. Outcome number one was bank prudence and low credit growth in the face of uncertainty. Outcome…
Simon Johnson: The Coming Meta-Boom and Meta-Bust
Simon Johnson, a former chief economist for the International Monetary Fund and author of 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown, says the recently passed Dodd-Frank Financial Reform Act does little to…
Institutional Investors now suing Bank of America for put backs on MBS
Felix Salmon is right. This is going to be a big, big problem for the financial institutions. A group of investors holding $16.5 billion of mortgage bonds took a step toward a possible suit against a Bank of America Corp unit for…
QE2 Won’t Save Our Sinking Ship
by L. Randall Wray, Professor of Economics at the University of Missouri-Kansas City, Research Director with the Center for Full Employment and Price Stability and Senior Research Scholar at The Levy Economics Institute. Fed Chairman…
Video: Cutting back in Ireland
The following video is from the Wall Street Journal and serves as a continuation on the theme of investigating the economies of Europe's periphery. These videos are good because it puts a human face on a subject for people unfamiliar with…