A Reassuring Lie
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/When the Queen of England asked Economists (including finance professors too) in 2008 why they had failed to see the financial crisis... Read More
With Such Friends [as Academics], Who Needs Lobbyists?
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The title for this post comes from Stanford business school professor Anat Admati’s “It Takes a Village to Maintain a Dangerous Financial... Read More
How Wall Street Conquered the World Without Firing a Single Shot
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The preface to Transparency Games has aged well and is more relevant today than when I wrote it: There are events, such as the... Read More
Did Hank Paulson Dominate Bernanke’s Thinking?
When I was writing Transparency Games, I noted how important the panicked look on Ben Bernanke’s face was to Hank Paulson getting $750... Read More
Federal Reserve’s Purchase of Economics Profession Gives it Control Over Narrative
“The real key isn’t about whether what I say is true, but whether you believe it. From start to end, the direction... Read More
The Committee to Save the Banks Undermined the US led World Order
To say the decision to save the banks was terrible is to understate how profoundly awful the decision was. The first casualty... Read More
Lying About the Financial System and the Rise of Populism
Opacity in the financial system has given rise to the return of populism. In early 2009, the Committee to Save the Banks... Read More
Committee to Save the Banks’ Offensive Defense of Its Actions
Having chosen to save Wall Street at the expense of the real economy, the Committee to Save the Banks has had to... Read More
If “The Enemy is Forgetting”, What Explains Committee to Save the Banks?
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Ten years after they undermined capitalism in America, the Committee to Save the Banks got together to defend their action. The Committee... Read More
The Committee to Save the Banks – Part I: The Background
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The Committee to Save the Banks sat down for a lengthy, friendly interview for the tenth anniversary of the Great Financial Crisis. What the... Read More
The Committee to Save the Banks – Part II: Opacity and Bank Runs
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In Part II, I’ll show how the Committee to Save the Banks discussion of the panic, fear and bank runs of 2008... Read More
The Committee to Save the Banks – Part III: Paulson the Puppet Master
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Before looking at how the Committee to Save the Banks reacted to the acute phase of the financial crisis in 2008, it... Read More
The Committee to Save the Banks – Part IV: Defending the Indefensible
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The Committee to Save the Banks put on a clinic in their ongoing effort to defend their choice to save the banks... Read More