Ron Paul was on CNN this morning talking about unemployment, the credit crisis, the Federal Reserve and a lot more.

Share

Bloomberg News is writing a very worthy series of retrospective articles on the financial panic of September 2008.  I profiled the first one on Monday.  The next in the series came out yesterday and it makes for riveting and enlightening reading.
Bloomberg News reporters Bob Ivry, Mark Pittman and Christine Harper talked to a large [...]

I just received notice that the FDIC Board has approved the phase out of the Temporary Liquidity Guarantee Program (TLGP) in a first clear sign that the U.S. Federal Government has started policy normalisation.
The FDIC Board today adopted a Notice of Proposed Rulemaking (NPR) that reaffirms the expiration of the debt guarantee component of the [...]

In a BBC Two interview, former Fed chief Alan Greenspan waxed fatalistic, saying that another financial crisis is inevitable due to animal spirits.  In his view, booms and busts are endogenous to the capitalist system, crises being the outcome of long periods of prosperity. I agree with this assessment. But, it is surprising to hear [...]

With the Lehman meltdown hitting its one-year anniversary soon, a lot of media outlets are looking back at the events that surrounded Lehman’s collapse. Bloomberg has a good article out that is a must-read piece.
For me, the money quote of the article comes via Rich Bernstein.
One year later, policymakers haven’t learned the lesson of the [...]

More weekend market laughs for the financially-inclined.  Hat tip Blicklog.

Share

There is an effort underway to install the Federal Reserve as super-regulator for all banks and financial institutions, concentrating power in one institution. I find these efforts one of the most disturbing outgrowths of the financial crisis we have been witnessing. Such a system is sure to increase the power of too big to fail [...]

Evidence is now surfacing that Timothy Geithner and Gordon Brown were among policymakers warned in April 2007 of an impending financial crisis. Famed fund manager and shortseller Jim Chanos met with the policy makers at the time, along with several other hedgies during the G-8 Summit in Washington, D.C.
Their worry: an impending financial crisis.  Recalling [...]

The Irish government today announced that, if necessary, it is prepared to take majority shareholding in ailing Irish banks. However, it has ruled out full-scale nationalisation. But, what is a majority share by government except nationalisation?
This is a duplicitous parsing of words that hides a more sinister interpretation of what is happening in Ireland.
Here’s what [...]

The FDIC has just released a press statement outlining the second quarter results for the fund and the financial institutions it regulates.  What was particularly notable in the statement was the decrease in funds available to deal with failed institutions and the increase in the number of problem institutions to 416. This surely indicates that [...]