Reforming Banking by Reforming Housing
Simon van Norden, Econbrowser, September 14, 2009
In my previous post, I wrote about some of the evidence linking serious banking crises to real estate market collapses. That evidence is far from iron clad; it is simply the observation that many banking crises in mature economies have their origins in a real estate boom and bust cycle. However, the idea is also intuitively appealing.
"For All Obama's Talk of Overhaul, the US has Failed to Wind in Wall Street"
Mark Thoma, Economist's View, September 14, 2009
Joseph Stiglitz is not impressed with the administration's response to the financial crisis.
Obama's Speech: How His Wall Street Audience Reacted
Andrew Ross Sorkin, Economix, September 14, 2009
Wall Street leaders in the audience of Mr. Obama's speech today grimaced when he spoke of ways for banks to take the lead in reining in pay and making other reforms, but nodded in approval when he blamed the financial crisis not just on Wall Street but at the entire nation's.
Assessing the Recent Performance of the Fed
Richard Alford, Naked Capitalism, September 15, 2009
Any accurate assessment of Fed policy and how we got where we are today will certainly be more involved and less clear cut than the standard assessment based on comparing the actual course of the Fed Funds rate to that deemed appropriate by the chosen variant of the Taylor Rule.
Let's Grade Wall Street Like Colleges
William McGurn, Wall Street Journal, September 15, 2009
The more rating agencies the better.
The Wall Street Casino, Back in Business
Eugene Robinson, Washington Post, September 15, 2009
With the Dow rising somebody needs to slap the incipient grin off Wall Street's face.