Was it a Mistake to Save the Banks?
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/Since the acute phase of the financial crisis began and the decision was made to “save” the banks, the question has been... Read More
The Response to the Financial Crisis Worked …. Hmmm ….
A decade after the acute phase of the financial crisis the Economics profession is still trying to make the case its policy... Read More
Credit Suisse’s Thiam Pushes Transparent Lending Covenant
Even the banking industry realizes there is no reason not to disclose a loan once it has been made. The latest example... Read More
Economics Still Needs to Come up with THE Big New Idea
A decade after the acute phase of the Great Financial Crisis and economists are still arguing amongst themselves whether there is any... Read More
Paul Krugman Finds There Never was a Risk of a 2nd Great Depression
Regular readers know since the acute phase of the Great Financial Crisis began in September 2008, I have been saying the programs... Read More
ECB Discovers Macro-Prudential Regulation Doesn’t Work
One of the worst ideas to emerge from the Great Financial Crisis was macro-prudential regulation. Under macro-prudential regulation, regulators are suppose to... Read More
Macro Economists and Unwarranted Over-Confidence
Since the acute phase of the Great Financial Crisis erupted, we have been treated to macro economists confidently putting forth their policy... Read More
Newsflash: Macro Economists Did Not Prevent a Rerun of the Great Depression
After a decade of being derided for their failure to predict the financial crisis, macro economists want us to stop criticizing them... Read More
Wall Street and the Volcker Rule
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In a terrific article, Andrew Cockburn looks at how Wall Street influenced and still influences at both the legislative and regulatory level... Read More
Bernanke and the Information Matrix
In an excerpt from his book on how he saved the global financial system, Ben Bernanke observed in talking about the opaque... Read More
What Happened to the Call for an End to the “Age of Irresponsibility”?
In a late September 2008 speech to the UN, Gordon Brown, then the UK’s prime minister, called for an end to the... Read More
Robert Bruner: Missing Financial Crisis Lesson
University of Virginia’s Darden School of Business Professor Robert Bruner offered up his insights into the lessons we did not learn in... Read More
Economists and Credentialism
On his Grumpy Economist blog, John Cochrane wrote an interesting post on Economists as Public Intellectuals. What caught my attention in his... Read More
Economists and Their Inability to Say They Don’t Know
Why do Economists, particularly macro-economists, have such a difficult time saying “I don’t know” rather than confidently offering an ill-informed opinion? Consider... Read More
Upton Sinclair was Right About MacroEconomists
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A decade after the beginning of the global financial crisis, I have come to realize the inability of macroeconomists to understand the... Read More