James Kwak

Stop Blaming Wall Street
July 14, 2011

p.MsoNormal, li.MsoNormal, div.MsoNormal { margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: "Times New Roman"; }span.Italic { font-style: italic; }div.Section1 { page: Section1; } As the U.S. economy fails to recover, there is a growing fear that the United States has entered a phase of long-term decline. Conservatives blame “big government” for throttling entrepreneurship; liberals tend to take aim at Wall Street.

Stop Blaming Wall Street
July 13, 2011

As the U.S. economy fails to recover, there is a growing fear that the United States has entered a phase of long-term decline. Conservatives blame “big government” for throttling entrepreneurship; liberals tend to take aim at Wall Street.

Why Small Banks Should Want A Consumer Regulator
August 06, 2009

I don't have a ton of analytical insight to add to this discussion, but Simon Johnson, James Kwak, Felix Salmon, and Mike Konczal have all been making very solid points lately about why a consumer financial products agency would benefit community banks, especially insofar as they compete with megabanks. Which is why their early opposition to the idea seems counterintuitive (though there are ways to explain it). Kwak sums up the situation nicely: Community banks must have some source of competitive advantage over Bank of America and Citigroup. There are two obvious possibilities.

Financial Innovation: Were There Any Benefits At All?
June 11, 2009

In a post on credit card regulation, James Kwak at The Baseline Scenario asserts that financial innovation did little to make charge cards cheaper: If innovation doesn’t give us new products, does it at least give us the same product at a lower price? Not so much.

So Is Bernanke A Good Guy Or A Bad Guy?
April 05, 2009

I don't entirely understand this Washington Post op-ed from Simon Johnson and James Kwak. On the one hand, they seem to criticize Fed Chairman Ben Bernanke for a series of radical moves designed to prevent a deflationary spiral. "Bernanke's willingness to pump money into the economy risks unleashing the most serious bout of U.S. inflation since the early 1980s, in a nation already battered by rising unemployment and negative growth," they write.