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
PhD Economist Derp: Informationally-Insensitive Debt
Nobel prize winning Economist Paul Krugman explains what is a sure sign of when a PhD Economist is being a “derp”: OK, so... Read More
Stanley Fischer’s Last Great Economics Lesson
With the announcement of his retirement as Fed Vice Chairman, I thought it would be interesting to browse through a few recent... Read More
Cochrane Responds to Yellen’s Jackson Hole Speech
Periodically, I stumble across a post that I recommend reading. John Cochrane’s response to Janet Yellen’s Jackson Hole speech is one of... Read More
Yellen delivers closing argument for breaking up the Fed
During the 2017 Jackson Hole symposium, Fed Chair Janet Yellen explained why breaking up the Fed and sending all of its supervision... Read More
Fed confirms none are so blind as those whose job depends upon not seeing
Periodically I delude myself into thinking senior Fed officials/PhD economists actually understand how our financial system is designed and is suppose to... Read More
It is time to break-up the Fed
Donald Trump and the GOP need an easy, highly visible legislative victory. Breaking up the Fed meets this criteria. In the aftermath... Read More
Financial regulation changed for the worse after the crisis
In his last speech as a Fed Governor, Daniel Tarullo offered his opinion on the regulatory reform efforts he lead. The speech... 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
Bernanke has his Colonel Jessep moment
The splash page for Ben Bernanke’s new book, The Courage to Act, unmistakably parallels a wonderful scene from the movie A Few Good Men.... Read More
Dodd-Frank Act used so Federal Reserve becomes national insurance regulator
For those of you who may have missed it, the Federal Reserve is using the Financial Stability Oversight Council portion of the... Read More
Overhauling financial supervisory framework
Paul Volcker spelled out the need for reforming our financial supervisory framework. Talking about the need to reorganize and consolidate the financial... Read More
Gaming the stress tests
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The Fed released the results of its annual stress tests and the question was why were JPMorgan and Goldman so close to... Read More