New York Fed
The Escape Artist
The Unnecessary Fall
Regulators, Mount Up
Trojan Horse
"Large Integrated Financial Groups": Can't Live Without 'Em?
Feudal Lords of Finance
In some influential circles, these questions are now asked: What’s wrong with high levels of inequality in general, and with having very rich bankers in particular? After all, human societies have survived the presence of extremely wealthy individuals in the past--in fact, some now argue, the presence of such a “new aristocracy” can finance growth and spur innovation. This argument is deeply flawed along three dimensions. READ MORE >>
Should Geithner Resign?
Why Didn't AIG Bargain With Goldman?
Today's big financial story is the TARP inspector general report criticizing the New York Fed for not negotiating a better deal with all the banks--like Goldman and Merrill Lynch--whose mortgage-backed securities AIG had effectively insured, and to whom it owed big money once the market melted down. READ MORE >>
The New York Fed Beefs Up Its Trading Desk
Interesting nugget from the FT: The Federal Reserve Bank of New York is aggressively hiring traders as it seeks to manage its burgeoning securities holdings, making the central bank one of Wall Street’s most active recruiters of financial talent. READ MORE >>
A New Direction For The Fed?
Policymakers like to make particular kinds of statements at a "low attention" moment, e.g., right before a holiday weekend. This gets items onto the public record but ensures they do not get too much attention. And if you are asked about these substantive issues down the road, you can always say, "we told you this already, so it's not now news"--usually this keeps things off the front page. READ MORE >>
