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
Jackson Hole and the Information Matrix
As central bankers from around the world meet at their annual conference at Jackson Hole, a great deal of effort will go... Read More
2007 Financial Crisis used to build an unfair world
In response to the Great Depression, FDR not only reformed the financial system, but with the New Deal built a fairer country.... Read More
The Financial Crisis … Ten Years Later
Ten years ago on August 9, 2007, BnP Paribas kicked off the global financial crisis by announcing it couldn’t value subprime mortgage-backed... Read More
Economists never learn: follow-up
I received significant feedback on my earlier post on why Economists never learn, particularly from someone without a PhD in Economics. This feedback... Read More
Economists never learn: bank capital
Previously I discussed how the Economics/Finance profession is incapable of learning anything from someone without an Economics/Finance PhD. As an example of... 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
Can 1,000 Economics/Finance PhDs learn from a non-PhD?
It has become apparent Economics and Finance PhDs are the walking embodiment of Upton Sinclair’s observation: It is difficult to get a... Read More
Opacity Protection Team wins again: Libor replacement coming
The Opacity Protection Team notched another victory. Rather than require banks to provide transparency and end the bankers’ ability to rig the... Read More
How healthy is the global financial system?
As we approached the tenth anniversary of the start of the financial crisis on August 9, 2007, global financial regulators are declaring... 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
Fixing Libor simpler and easier than replacing it
The financial crisis revealed bankers were rigging Libor for personal profit. Since then, regulators have been searching for a solution to either... Read More
Have the causes of the global financial crisis been fixed?
As we approach the tenth anniversary of the start of the Great Financial Crisis, central bankers in their role as financial regulators... 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
Gambling on bank regulators
Since banks everywhere are opaque, there is no way for investors to independently assess the risk of their unsecured debt and equity... Read More