Michael Hudson: 10 Years Since Lehman Brothers Bankruptcy – Did the Economy Really Recover?
Michael Hudson discusses the economic impact of not writing down debts in the wake of the crisis.
Read more...Category Archives: Federal Reserve
Michael Hudson: The Lehman 10th Anniversary Spin as a Teachable Moment
Why you should take conventional wisdom about the Lehman collapse and the crisis with a fistful of salt.
Read more...Why Central Banks Should Not Be Inflation Nutters
Central banks need to stop fighting the last war.
Read more...Double Whammy: Implicit Subsidies and the Great Financial Crisis
Follow the subsidies, and you will understand why we had the crisis and why not enough has been done to prevent a recurrence.
Read more...Jumping the Abyss: Marriner S. Eccles and the New Deal, 1933-1940
An in-depth look at Marriner Eccles’ ideas and policies, and how well they have withstood the test of time.
Read more...Victorian Central Banks and the Myth of Independence
Central banks have not always been independent, inflation targeting bodies, and to treat them as such is to obscure their complex histories and alternative institutional constellations.
Read more...Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
The chief architects of the exercise in looting otherwise known as the post-crisis rescues are back promoting more of the same.
Read more...Marshall Auerback: Central Bankers as ‘Dealers of Last Resort’
In their 21st-century role as counterparty/dealer/insurer of last resort, central bankers must not simply use their balance sheets indiscriminately to provide a liquidity backstop during the downturns. They must embrace this counterparty role as an umpire, rather than an enabler.
Read more...Bill Black: Pre-Crisis “4506-T Studies” Showed Massive Fraud in Liar’s Loans; Fed Ignored Warning, DoJ Refused to Target Implicated Banksters
Yet another proof that the authorities were given evidence of widespread mortgage fraud before the crisis and chose to do nothing about it.
Read more...The Explicable Mystery of the National Debt
Why US Treasury bond issuance and Federal deficits are functionally not debt at all.
Read more...Bill Black: Mankiw Whiffs on “Learning the Right Lessons from the Financial Crisis”
Bill Black debunks a book that tries to relitigate the crisis by denying that Lehman was insolvent.
Read more...10 Down-to-Earth Things Powell Said about Cryptocurrencies
The Fed is perfectly content to have cryptocurrencies be the SEC’s problem.
Read more...Marshall Auerback: How Plan to Replace LIBOR Will Cement Fed’s Role as Global Central Banker
How proposals to replace LIBOR will strengthen the Fed’s position in global markets.
Read more...Michael Hudson: Argentina Gets Biggest IMF Loan in History
Leftout podcast of The Hudson Report, with Michael Hudson, discussing the award to Argentina of the biggest loan in the IMF’s history (includes transcript).
Read more...As the Yield Curve Flattens, Threatens to Invert, the Fed Discards it as Recession Indicator
This Fed is getting seriously hawkish: It revealed that instead of thinking about backing off rate hikes, it’s replacing the yield curve.
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