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economist.com - 2/13/2009
Economist: America's banking crisis - Worse than Japan?
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THERE is one consolation for the depressing instability of finance. History offers a rich array of banking crises from which policymakers can draw lessons—and against which today’s rescue plans can be judged. According to an IMF database, there have been 124 “systemic” banking crises since ...

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The Mess That Greenspan Made:  Friday morning links

Economist's View:  links for 2009-02-17

Decline and Fall of Western Civilization:  japan was successful, cont'd

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Friday morning links
The Mess That Greenspan Made — ... pickings in property - TimesOnline Home Prices in Record Plunge - CNN/Money A Better Bank Fix: Cut Every Mortgage's Principal - Time 4th Quarter Home Prices Down, Buyers Purchase Distressed Property - NAR Housing prices plunge 12.4% - Investment News FED/TREASURY/BANKING Greenspan Says He Was Mystified by Subprime Market - DealBook Geithner Hampered by Staff Deficit as Wall St. Demands Speed - Bloomberg America's banking crisis: Worse than Japan? - Economist Large U.S. banks on the edge of ...

links for 2009-02-17
Economist's View — Reprivatization After Paulson - The Baseline Scenario Worse than Japan? - The Economist G.M. Pushes Union for Concessions - NYTimes.com Congress Gets Punitive on Executive Pay - Lucian Bebchuk - WSJ.com No post today - Willem Buiter Spies Play Economists, Economists Play Spies - Aid Watch Extracting more from the EITI - voxeu.org Community Reinvestment Act Not to Blame for Crisis - RTE Geithner's "Stress Test" ...

japan was successful, cont'd
Decline and Fall of Western Civilization — following on yesterday's lengthy excerpt and comments, i should also link to an excellent comparison of the japanese and american situations in the economist. ... the history of bank failures suggests that Japan’s slump was not only the result of policy errors. Its problems were deeper-rooted than those in countries that recovered more quickly. Today’s mess in America is as big as Japan’s—and in some ways harder to fix. ... The scale of the bubble — a doubling of house prices in five years — was about as big in America’s ten ...

Related: there is one consolation for the depressing instability of finance
Ireland's National Debt Triggers Fears of Default
economicdiscourse.com 2/16/2009 — The Times reports that Ireland's government now faces the highest probability of default out of every European economy. This all began late September when the government issued a blanket guarantee on all deposits, a bold move that would soon backfire . Shares in Irish banks rose sharply today ...