Dodd-Frank Act is Filled with Bad Ideas
You could almost forgive the Obama Administration’s flawed handling of the Great Financial Crisis response if it hadn’t passed the Dodd-Frank Act.... 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
Economics Profession: Continually Admired, Chronically Mistaken
I would like to expand on Gene Epstein’s article on Joseph Stiglitz and show how it really applies to much of the... Read More
Certificate of Dumb Investment
In his daily newsletter, Bloomberg columnist Matt Levine wrote on Earning the Right to Get Swindled. He debunked the notion that because... Read More
How and Why did Economics Fail, Anyway?
As I was reading Noah Smith’s excellent review of Richard Bookstaber’s The End of Theory, I realized every shortfall he finds with the... Read More
Nobel Prize Isn’t Barrier to PhD Economist Derp
It has been a decade since the acute phase of the Great Financial Crisis. Yet it appears macroeconomics has learned nothing over... Read More
Is Financial Regulation Fit for Purpose?
In the aftermath of the acute phase of the Great Financial Crisis, there was a rush to regulate the global financial system.... Read More
10th Anniversary of Goldman Sachs Being Saved After it was “Toast”
This day a decade ago was a big day for the Hank Paulson lead Committee to Save the Banks (Bernanke and Geithner... 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
Getting the Financial Crisis Narrative Right
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By now, everyone has their favorite narrative to explain the financial crisis and the effectiveness of the policy response to it. It... Read More
Media Proves Its Worth to Wall Street’s Opacity Protection Team
The tenth anniversary of the collapse of Lehman Brothers highlighted why the media is a valuable member of Wall Street’s Opacity Protection... Read More
Bernanke Discovers the Information Matrix
In his ongoing analysis of the earthquake that struck the global financial system’s opacity fault line in 2008, Ben Bernanke discovered the... Read More
Can We Regulate Systemic Risk?
In 2010, Michael Spence asked the question can we regulated systemic risk. No, but we can prevent systemic risks from reaching a... Read More