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http://baselinescenario.com/ - What happened to the global economy and what we can do about it

baselinescenario.com - 20 hours ago
Government Debt Hysteria
— baselinescenario.com — I don’t spend a lot of time trying to police the economic news media — Dean Baker and Brad DeLong are much better on that — but I found myself reading a two-week-old Newsweek column by Robert Samuelson that enraged me enough to type this out. (I read it on old-fashioned ... (more) Government Debt Hysteria
Comments vote down jamesykwak jamesykwak posted 20 hours agoposted this
baselinescenario.com - 23 hours ago
The AIG-Maiden Lane III Controversy
— baselinescenario.com — As everyone knows by now, Neil Barofsky, special inspector general for TARP, has a new report out on the decision by the Federal Reserve Bank of New York last Fall to make various AIG counterparties (primarily some very big banks with names you know) whole on the the CDS protection they had ... (more) The AIG-Maiden Lane III Controversy

Comments vote down jamesykwak jamesykwak posted 23 hours agoposted this
baselinescenario.com - 45 hours ago
CRA Bashing, Nth Generation
— baselinescenario.com — The Community Reinvestment Act is a law originally passed in 1977 that directed federal regulatory agencies to ensure that the banks they supervised were not discriminating against particular communities in making credit available.The onset of the subprime mortgage crisis triggered a flood of ... (more) CRA Bashing, Nth Generation

Comments vote down jamesykwak jamesykwak posted 45 hours agoposted this
baselinescenario.com - 48 hours ago
Written Testimony Submitted To The Congressional Oversight Panel
— baselinescenario.com — Testimony submitted to the Congressional Oversight Panel, hearing on “The overall impact of the Troubled Asset Relief Program (TARP) on the health of the financial system and the general U.S. economy,” Thursday, November 19, 2009. ( pdf version ) Submitted by Simon Johnson, Ronald Kurtz ... (more) Written Testimony Submitted To The Congressional ...

Comments vote down jamesykwak jamesykwak posted 48 hours agoposted this
baselinescenario.com - 2 days ago
Auto Race to the Bottom
— baselinescenario.com — This guest post was contributed by Raj Date, head of the Cambridge Winter Center for Financial Institutions Policy and a former McKinsey consultant, bank senior executive, and Wall Street managing director. Over the past several months, Congress has debated ways to strengthen and ... (more) Auto Race to the Bottom
Comments vote down jamesykwak jamesykwak posted 2 days agoposted this
baselinescenario.com - 2 days ago
What Did TARP Do?
— baselinescenario.com — This morning, starting at 9:30am, the Congressional Oversight Panel holds a hearing to assess the performance of the Troubled Asset Relief Program (TARP). The hearing will be streamed live and also archived , featuring testimony from: Dean Baker (Center for Economic and Policy Research), ... (more) What Did TARP Do?

Comments vote down jamesykwak jamesykwak posted 2 days agoposted this
baselinescenario.com - 3 days ago
Slow Cat, Fast Mouse
— baselinescenario.com — One of our readers pointed me to a paper by Edward Kane with the unfortunately complicated title “ Extracting Nontransparent Safety Net Subsidies by Strategically Expanding and Contracting a Financial Institution’s Accounting Balance Sheet .” The paper is an extended ... (more) Slow Cat, Fast Mouse
Comments vote down jamesykwak jamesykwak posted 3 days agoposted this
baselinescenario.com - 3 days ago
Time For Coordinated Capital Account Controls?
— baselinescenario.com — This guest post was submitted by Arvind Subramanian , a senior fellow at the Peterson Institute for International Economics. Arvind is a leading proponent of the view that we need to rethink capital controls - he sees them as central to meaningful macroprudential regulation going forward.  ... (more) Time For Coordinated Capital Account Controls?

Comments vote down jamesykwak jamesykwak posted 3 days agoposted this
baselinescenario.com - 4 days ago
Banking In A State
— baselinescenario.com — “ Banking on the State ” by Andrew Haldane and Piergiorgio Alessandri is making waves in official circles. Haldane , Executive Director for Financial Stability at the Bank of England, is widely regarded as both a technical expert and as someone who can communicate his points ... (more) Banking In A State

Comments vote down jamesykwak jamesykwak posted 4 days agoposted this
baselinescenario.com - 5 days ago
Steve Randy Waldman on Financial Regulation
— baselinescenario.com — I would like to strongly recommend Steve Randy Waldman’s recent post on “ Discretion and Financial Regulation .” He begins like this: “An enduring truth about financial regulation is this: Given the discretion to do so, financial regulators will always do the wrong ... (more) Steve Randy Waldman on Financial Regulation

Comments vote down jamesykwak jamesykwak posted 5 days agoposted this
baselinescenario.com - 5 days ago
Economics Puzzler of the Day
— baselinescenario.com — Gretchen Morgenson of The New York Times (hat tip Calculated Risk ) reports that the recent Worker, Homeownership and Business Assistance Act of 2009 (which included the expansion of the homebuyer tax credit) included a curious tax break for money-losing companies: “a tax break that ... (more) Economics Puzzler of the Day

Comments vote down jamesykwak jamesykwak posted 5 days agoposted this
baselinescenario.com - 5 days ago
One Cost of Too Big to Fail
— baselinescenario.com — A reader pointed out a quick analysis done by Dean Baker and Travis McArthur of the Center for Economic Policy and Research back in September. They estimate the value of being “too big to fail” by looking at the spread between the cost of funds for banks above $100 billion in ... (more) One Cost of Too Big to Fail
Comments vote down jamesykwak jamesykwak posted 5 days agoposted this
baselinescenario.com - 5 days ago
One Cost of Too Big to Fail
— baselinescenario.com — A reader pointed out a quick analysis done by Dean Baker and Travis McArthur of the Center for Economic Policy and Research back in September. They estimate the value of being “too big to fail” by looking at the spread between the cost of funds for banks above $100 billion in ... (more) One Cost of Too Big to Fail
Comments vote down jamesykwak jamesykwak posted 5 days agoposted this
baselinescenario.com - 7 days ago
Who’s Afraid Of A Falling Dollar?
— baselinescenario.com — This guest post was submitted by Joe Gagnon , a senior fellow at the Peterson Institute for International Economics. Joe is an expert on international economics has spent a great deal of time studying the effects of exchange rate depreciation. Even if the dollar depreciates sharply in the ... (more) Who’s Afraid Of A Falling Dollar?

Comments vote down jamesykwak jamesykwak posted 7 days agoposted this
baselinescenario.com - 7 days ago
Note to Jamie Dimon: Repeating Something Doesn’t Make It True
— baselinescenario.com — In the Washington Post , Jamie Dimon asserts that we shouldn’t “try to impose artificial limits on the size of U.S. financial institutions.” Why not? “Scale can create value for shareholders; for consumers, who are beneficiaries of better products, delivered more ... (more) Note to Jamie Dimon: Repeating Something Doesn’t Make It ...

Comments vote down jamesykwak jamesykwak posted 7 days agoposted this
baselinescenario.com - 7 days ago
The Real Choice on Too Big to Fail
— baselinescenario.com — Gillian Tett has an article criticizing the idea that CoCos — contingent convertible bonds — will solve the “too big to fail” problem. (And yes, she calls it “too big to fail,” even though Gillian Tett of all people understands what interconnectedness ... (more) The Real Choice on Too Big to Fail

Comments vote down jamesykwak jamesykwak posted 7 days agoposted this
baselinescenario.com - 8 days ago
How Well Prepared Are Americans for Retirement?
— baselinescenario.com — The following guest post was contributed by Andrew Biggs. He has studied the issue of retirement savings for a couple of orders of magnitude longer than I, so I wanted to give him the opportunity to outline his perspective on the topic. He regularly blogs, along with about four dozen other ... (more) How Well Prepared Are Americans for Retirement?

Comments vote down jamesykwak jamesykwak posted 8 days agoposted this
baselinescenario.com - 8 days ago
2 Down, 58 to Go
— baselinescenario.com — Byron Dorgan joins Bernie Sanders : “Abolish ‘too big to fail.’ If you’re too big to fail, you’re too big.” By James Kwak (more) 2 Down, 58 to Go
Comments vote down jamesykwak jamesykwak posted 8 days agoposted this
baselinescenario.com - 8 days ago
Ask Sheila Bair
— baselinescenario.com — A producer at the Lehrer NewsHour just sent me this email: “Just thought I’d alert you to something we’re advertising today on Paul’s blog, The Business Desk. Paul [Solman] is interviewing the FDIC’s Sheila Bair tomorrow, and she’s agreed to answer several questions from NewsHour ... (more) Ask Sheila Bair

Comments vote down jamesykwak jamesykwak posted 8 days agoposted this
baselinescenario.com - 9 days ago
Dollar Doom Loop
— baselinescenario.com — The American dollar is in the midst of a large fall in its value, or depreciation, as measured against other major currencies. The decline has been steady since 2002 and our currency is down about 35 percent from that peak. After strengthening slightly more than 10 percent during the global ... (more) Dollar Doom Loop

Comments vote down jamesykwak jamesykwak posted 9 days agoposted this
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