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VoxEU.org - 3/4/2009
Incentive roots of the securitisation crisis and its early mismanagement
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Edward J. Kane , 3 March 2009 This column introduces Edward J. Kane’s new Policy Insight on the incentive roots of the securitisation crisis Full Article: Incentive roots of the securitisation crisis and its early mismanagement

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Economist's View:  links for 2009-03-04

EconLog: Library of Economics and Liberty:  Can you say "rent-seeking?"

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links for 2009-03-04
Economist's View — ‘No Deal’ Republicans Map Disaster of Own Making - John M. Berry Role-playing games - Free exchange Social entrepreneurs - Understanding Society Yet another cut at the recent retail price data - macroblog More Navel-Gazing from Academic Economists - Freakonomics Trade protection: Incipient but worrisome trends - voxeu.org Permanent and Transitory Components of Real GDP - Brad DeLong Greg Mankiw Gets Technical - Arnold Kling Roots of evil (wonkish) - Paul Krugman Team Obama on ...

Can you say "rent-seeking?"
EconLog: Library of Economics and Liberty — Ed Kane writes , TARP recipients paid out $76.7 million on lobbying and $37 million on federal campaign contributions in 2008 and (through Feb 2, 2009) received access to $295.2 billion in TARP funds. The ratio of lobbying expense to TARP receipts suggests that, during the initial stages of the crisis, financial institutions have reaped extraordinary benefits from investing in efforts to scare federal officials and to tell them how "best" to dispel crisis pressures. Following this self-interested advice has been ineffective partly because the return from expanding large firms' investments in lobbying activity has dwarfed the ...

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