Category Archives: Regulations and regulators

Money and Banking – The Fed and Monetary Policy

A very readable, information-rich post on what the Fed does and does not do, with emphasis on the nitty-gritty of monetary policy. If you are time-pressed, read the last item in the FAQ first, which is a terse item-by-item debunking of widely made, inaccurate statements about the Fed.

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Capital Requirements: Another Odd Attempt to Declare Victory on Dodd-Frank

I suppose we’re going to have to deal with half-truths and logical stretches about Dodd-Frank right through until November, but Bernie Sanders’ focus on Wall Street has really ramped this up of late. The trajectory appears to be a show of proof of some sort, followed by a blog link from Paul Krugman, at which point the citation hardens into conventional wisdom. The version of this that began a few days ago with Wonkblog’s Matt O’Brien has a level of truth to it, of course, but I don’t think it reveals exactly what its endorsers think.

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The North Korean Connections of US Billionaire Naguib Sawiris and US Defence Company Contrack Watts

US Billionaire Naguib Sawiris and his Contrack Watts, a major US defence contractor, turn out to have ties to North Korea, via an amazingly profitable mobile phone company

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SEC Data Show Reduction in Criminal Prosecutions Since 2010

Every year the SEC delivers an annual report right around the holidays that gets virtually forgotten by everyone. But a tipster highlighted one part of the document that matches recent research about the way in which the agency plays with numbers. Urska Velikonja, assistant professor at Emory School of Law, released the study late last […]

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Geithner Ghostwriter Mike Grunwald Tries to Shift Financial Crisis Narrative Away From The Big Short

It’s sad that you have to be something of a detective to decipher what passes for content at most major American news outlets. In the case of Michael Grunwald, however, we have a decent set of indicators about the normally hidden agenda. The Politico writer worked with Tim Geithner on his memoir. In fact, I believe he has said publicly that he didn’t know a lot about finance before meeting Geithner. So when Grunwald decides to leap into anything involving this topic, we can assume the end result is not altogether different than what it would look like if Geithner wrote it with his own byline.

The latest example is a nominal review of The Big Short, which is not really a review. It’s an attempt to steer the narrative of what happened, in the financial crisis and its aftermath, to territory that comforts elites.

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