Preserving the independence of the Fed
The 2007 financial crisis revealed the notion of an “independent” Federal Reserve or central bank is a complete myth. At a minimum,... Read More
Varoufakis: choice between the sensible and the toxic
In Transparency Games, I discuss at length the choice policymakers face in responding to a financial crisis. The choice is between the Swedish... Read More
Moral hazard and the Lender of Last Resort
The ECB released a document discussing moral hazard and its role as the lender of last resort to banks facing a liquidity... Read More
Irish Banking Inquiry Part II: Reliance on Regulators foolish
The Irish Banking Inquiry is looking into the causes of and response to the Irish financial crisis. In doing so, it is... Read More