Damn the Toxic Side Effects, …
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/Anna Schwartz was right*. No matter how toxic the side effects or how ineffective the policies chosen by PhD Economists, they will... Read More
Lawrence Summers and Ten Years Later
Professor Summers took on the task of defending the indefensible. Naturally, he, like the policies he promoted and supported, failed. He starts... Read More
The Arsonists’, aka The Committee to Save the Banks, New Book: Firefighting
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The Committee to Save the Banks (Hank Paulson, Ben Bernanke and Tim Geithner) is out with a new book defending their mismanagement... Read More
The Political and Social Costs of the Financial Crisis Response
Since Paulson, Geithner and Bernanke decided to save the banks at all costs, it has been clear the economic costs would be... Read More
When Hindsight into the Great Financial Crisis is 20/20
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Wow! The architects of the policy response to the Great Financial Crisis cannot stop themselves from showing how unfit they were for... Read More
Why the Financial Crisis Narrative Matters
George Soros and Rob Johnson wrote an editorial that brilliantly illustrates why it was and still is important to have the right... Read More
Restructuring Debt Key to Quickly Ending Financial Crisis
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Regular readers know the global financial system is designed to support the Swedish Model for responding to a financial crisis. Under the... Read More
Saving the Middle Class Rejected in Favor of Saving the Banks
In the preface to Transparency Games, I asked why did the US surrender to Wall Street on September 23, 2008. It has taken... Read More
Why Has So Little Changed Since Lehman Failed in 2008?
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The Financial Times’ Martin Wolf looked at the response to the Great Financial Crisis and discovered the problem with Committee to Save... Read More
The Committee to Save the Banks Reaches New Lows
In its ongoing defense of the indefensible, the Committee to Save the Banks (Paulson, Bernanke and Geithner) reached new lows this week.... Read More
The Financial Crisis Response and the Death of Truth
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The 2008 response to the acute phase of the Great Financial Crisis contributed directly to the death of truth. Michiko Kakutani asked... 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
Economists Have No Sense of Shame
Since the acute phase of the Great Financial Crisis started, it has become clear Economists have no sense of shame. If they... Read More
Time to Declare Victory on Financial Crisis Response Playbook
In 2008, I started making the point banks are designed to protect the real economy during a financial crisis (as oppose to... Read More
Macro Economics Confuses Correlation with Causation
It has become very clear macro economists confuse correlation with causation. Since it was first introduced by Keynes, macro economists have told... Read More