Economy
Worth Reading
Bernanke joins the "recession is over" crowd. Fed unlikely to cut back on mortgage purchases. READ MORE >>
The Chinese, Their Dollar Reserves, and Our Trade Scuffle
Judge Rakoff's Rejection of the SEC-Bank of America Settlement
Bank of America and the SEC were blasted on Monday in a ruling issued by a Federal District Judge. The two parties had proposed a settlement deal over bonuses that had been paid to Merrill Lynch last year. The judge, Jed Rakoff, not only rejected it; he criticized the ethics of the proposal: "the proposed Consent Judgement is neither fair, nor reasonable, nor adequate. It is not fair, first and foremost, because it does not comport with the most elementary notions of justice and morality," READ MORE >>
Obama and the Ghost of Louis Brandeis
Two Cheers for Obama's Wall St. Speech
A couple quick points about Obama’s Wall Street reform speech yesterday: READ MORE >>
Goolsbee's Subtle Stimulus Point
White House economist Austan Goolsbee made a great point about the stimulus yesterday at our financial crisis conference in Washington. I don’t have a transcript yet, but the gist was: One reason it’s wrong to dwell on the fraction of stimulus money that’s been distributed so far is that it misunderstands the difference between obligation of money for a project and actual payment for the project. READ MORE >>
Peking Over Our Shoulder
The annals of Sino-American relations have seen more than a few celebrity-diplomats: Henry Kissinger, a young Richard Holbrooke, and, of course, the current secretary of state. But, unless the record has been lost to history, none has ascended to this rarefied plane of geopolitics while running the Office of Management and Budget. READ MORE >>
Better Regulate Than Never
Slideshow: The Day Lehman Died
Worth Reading
Philly public library system on the brink of closure. John Cochrane responds to Krugman, who fires back. READ MORE >>
