Category: financial subsidies

nailing naked nonsense

Teaching and research distractions have again kept me from blogging for a while.  I guess my defense is that learning the facts is always an important precursor to writing about them. This morning, however, I decided to divert from class…

the widening financial gyre

TURNING and turning in the widening gyre The falcon cannot hear the falconer; Things fall apart; the centre cannot hold; Mere anarchy is loosed upon the world, The blood-dimmed tide is loosed, (from William Butler Yeats’ The Second Coming (1919))…

banksters, pots and kettles

Despite the obvious hypocrisy of their assertions, some prominent bankers continue to act as if the world owes them a living. A while ago Philip Stephens of the Financial Times, echoing the views of the non-nonsense French Finance Minister Christine…

if i had a hammer

As I feast on financial crisis books, thought I’d share this tasty bit from Dean Baker’s False Profits: Recovering from the Bubble Economy. On page 9, Baker writes: “Progressives do the conservatives’ bidding when we denounce them as ‘market fundamentalists.’…

size, subsidiarization and stability

Once again very senior figures are proposing that the scale and structure of very large financial institutions be reconsidered. Nearly every major regulatory leader has raised the question, as have many economists across the political spectrum and in both the…

yogi berra on leverage

Professor Anat Admati, one of the distinguished economists who were recently widely noted as calling the bluff on bank CEO assertions about the negative effects of stricter capital requirements, has written a letter addressing the nonsense touted in the Financial…