ECB Discovers Markets Need Transparency to Work
The ECB resorts to transparency in an effort to get the market for bad loans the EU banks would like to sell... Read More
Those Who Helped Break the Economy Cannot Fix It
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Over a decade after the beginning of the Great Financial Crisis, the global economy has still not found its footing and moved... Read More
Deception “has to happen in a financial crisis”
A few days ago, I wrote a post on the Bank of England’s Andrew Haldane confessing the central bank engaged in deception (some... Read More
Central Bankers as Defenders of Opacity
At the launch of a book which concluded the loss of trust in Economists and Bankers is permanent, the Bank of England’s... Read More
The Myth of Central Bank Infallibility
Since the idea of macro-prudential regulation was first raised, I have pointed out there is no reason to expect it to work.... Read More
BoE lists reasons you are suppose to think financial system is safer
As we approach the tenth anniversary of the financial crisis, the Bank of England published the reasons why you are suppose to... Read More
Who is worse for the economy: Bankers or Economists?
As we near the tenth anniversary of the start of the Great Financial Crisis, it is worth taking a brief moment to... Read More
ECB highlights the importance of transparency
It its quest to understand how its monetary policies are transmitted to the real economy, the European Central Bank is turning to... Read More
Will China’s financial regulators discover transparency?
China’s financial regulators are trying to head off an excess debt driven financial crisis. To do this, they are trying to restrain... Read More
Transparency, Central Banks and Bank Supervision
The St. Louis Fed published an article by Julie Stackhouse explaining why bank supervision was a necessary part of the Fed if... Read More
We are unlikely to spot the next financial crisis
In a moment of surprising honesty, Gertjan Vlieghe, a Bank of England monetary policy official, summarized the problems with even the fanciest economic... Read More
Fed Up: a brief book review
In her book, Fed Up: An insider’s take on why the Federal Reserve is bad for America, Danielle DiMartino Booth explains why... Read More
Central banks call for help
Since the beginning of the Federal Reserve’s annual Jackson Hole get together, the message has been monetary policy has done all it... Read More
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
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