Martin Wolf: "Those Who Hope for Swift Return to Normalcy" are "Deluded"
naked capitalism —
... what they are doing with the money, and the credit risk taxpayers are taking on through the Federal Reserve. The Senate language encourages such transparency, allowing for audits and public disclosure of secret loans and financial assistance from the Federal Reserve to these large institutions. The more the Fed acts as what Willem Buiter calls "a quasi-fiscal agency of the Treasury", the more turf struggles we will see over its role and accountability. From the Financial Times: The International Monetary Fund’s latest Global Financial ...
Pink picks
FT Alphaville —
Comment, analysis and other offerings from Wednesday’s FT, Pink picks illustration Martin Wolf: Fixing bankrupt systems is just the beginning Can we afford to fix our financial systems? The answer is yes. We cannot afford not to fix them. The big question is rather how best to do so. But fixing the financial system, while essential, is not enough. Flashes of brilliance, but Barack could do better Edward Mortimer, senior vice-president and chief programme officer of the Salzburg Global Seminar , presents the results from an expert panel grading Barack Obama’s ...



