How understanding the history of Fannie and Freddie, as well as how unnatural US mortgages are, helps explain why the fight over the future of the GSEs continues.
Read more...How Michael Lewis’ The Big Short, whether for profit or by accident, has denied the public the truth about what really causes the crisis.
Read more...John Dizard, who perhaps by virtue of being one of the Financial Times’ most original and insightful columnists, is relegated to its weekend “Wealth” section, has written a particularly important pair of articles. Note that Dizard’s ambit is not policy wonkery but apt and often cynical observations about behavior and trading patterns in less visible […]
Read more...German financialization and input on the eurozone’s financial architecture promoted deficits, increased systemic risk, and facilitated the onset of Europe’s subsequent crises.
Read more...Banks suffer a symbolically important loss as Congress plans to whack their dividends from the Fed.
Read more...CalPERS CEO and its tainted fiduciary counsel Robert Klausner try to sell the CalPERS board on giving up even more power, when CalPERS clearly needs more, not less, oversight.
Read more...Robert Jenkins, a former banker, hedge fund manager, and regulator, points out that regulatory reform has fallen short on multiple fronts, and perhaps the most important is courage.
Read more...Support Occupy the SEC in opposing a bill that would give white collar criminals a new, improved “get out of jail free” card.
Read more...Hillary Clinton, is taking some heat for oddly deciding to relate her campaign donations from Wall Street to aiding Lower Manhattan after 9/11. This seems to be what the Gang of 500 has decided on as a gaffe, and it definitely has that odor. But I actually think Clinton said something even more egregious and revealing Saturday night. The problem is that the commentariat has deemed it some brilliant insight.
Read more...Originally published at the Institute for New Economic Thinking website Adair Turner, Chairman of the Board of the Institute for New Economic Thinking and former Chairman of Britain’s Financial Services Authority (2008-13), is the author of a new book that takes aim at economic and political orthodoxies, Between Debt and the Devil: Money, Credit, and […]
Read more...Why are so many drawn to the Sanders message? It’s because so many of us want to stop our entire society from crumbling beneath the destructive power of runaway inequality.
Read more...How the TPP would make financial firms that are “TIBACO” – that is, too interconnected, big, and complex to oversee – even more dangerous.
Read more...uropean creditors want to extract more blood from a stone, in this case Greece.
Read more...Governments and central banks must do away with the last remaining thing that gives people a small semblance of privacy, anonymity, and personal freedom.
Read more...Financial regulators increasingly acknowledge organizational culture as a source of systemic risk, yet they have been loath to do more than influence compensation structures, since they do not want to be perceived to be interfering with management. This post describes a new approach in the Netherlands that
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