Needed: $600 billion for the banks
Alan Greenspan discusses the too-big-too-fail banks which still face a gaping hole in their balance sheets. Bank loan loss reserves are typically estimated based on historical data and this economic...
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Breaking up the banks
The Guardian reports: ~~~~ “Mervyn King, the governor of the Bank of England, has launched a blistering attack on Britain’s banks, describing the £1tn government support given to them as...
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‘Too big to fail’ is too dumb to keep
An excellent opinion piece by John Kay, an economist, in the Financial Times … he begins by naming the litany of institutions that were brought down in the “Credit Crisis of 2007-2009″… He then...
View ArticleRestoring American Financial Stability – Discussion Draft
Senate Banking Committee Chairman Christopher Dodd released his version of legislation to reform the financial system today. Here are the summary and full draft. Dodd bill summary link HIGHLIGHTS OF...
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This is about limiting “collateral damage”…
We have to admit how much more sophisticated the British are about managing their financial sector… but then they have had so many more hundreds of years to do it… they did have a fully blown banking...
View ArticleWhat, are our banks made out of balsa wood held together by baby tears?
The Daily Show With Jon Stewart Mon – Thurs 11p / 10c Clusterf#@k to the Poor House – Wall Street Bonuses www.thedailyshow.com Daily Show Full Episodes Political Humor Health Care Crisis HT HuffPo…...
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Financial reform — sure — repudiate OTC derivatives
Repost from Chris Whalen’s Institutional Risk Analyst: ~~~ “… Thus we extend and pretend, a policy choice that ensures years of economic stagnation and perhaps even a new financial crisis when...
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So far the reformers of finance have neglected the shadow system
The parallel “shadow” banking system needs fixing: that should mean painful choices for money-market funds Mar 25th 2010 | From The Economist IF THEY were to film “It’s a Wonderful Life” today, the...
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