Bank of England

America's Economic "Doom Loop"
November 17, 2009

“Banking on the State” by Andrew Haldane and Piergiorgio Alessandri is making waves in official circles. Haldane, Executive Director for Financial Stability at the Bank of England, is widely regarded as both a technical expert and as someone who can communicate his points effectively to policymakers. He is obviously closely in line--although not in complete agreement--with the thinking of Mervyn King, governor of the Bank of England. Haldane and Alessandri offer a tough, perhaps bleak assessment.

Britain To Break Up Biggest Banks
November 02, 2009

The WSJ reports (online): “The U.K.’s top treasury official Sunday said the government is starting a process to rebuild the country’s banking system, likely pressing major divestments from institutions and trying to attract new retail banks to the market.” The British style is typically understated and policymakers always like to play down radical departures, but this is huge news. Pressure from the EU has apparently had major impact--worries about unfair competition through subsidizing “too big to fail” banks are very real within the European market place. Also, strong voices from within the

We Are The (economically Depressed) World
October 08, 2008

This morning's Financial Times headline reads "Central banks launch rate cut." Finally! Not to inflate my own perspicacity, but I've been saying for weeks that what the financial crisis calls for is first and foremost a coordinated international response, preferably one led by the United States. Even if it just meant photo ops, summits, and verbal commitments, the signal that the largest economies are working together is vital to injecting confidence into global markets.

Funny Money
July 01, 1991

Niall Ferguson asks whether a European economic and monetary union will work.

Britain’s Archaic Tariff
February 24, 1932

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