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    Economics / banking, financial system reform, regulation /

    Lame (Really Lame) Reform Part 2

    June 18, 2009

    It doesn’t improve overnight. Having vented my frustration at the extraordinarily limp regulatory response to the financial crisis yesterday I thought I would take a deep breath and come back today refreshed. My hope was that I would discover something I overlooked before which would then redeem the proposal. No such luck. “So the solution […]

    Economics / banking, CRA, deregulation, Goldman Sachs, Keynes, Minsky, regulation, systemic risk /

    Lame Bank Reform

    June 17, 2009

    Allow me to rant: We deserve better than this. We really do. We have now reached that part of the Obama administration’s agenda where we can start to assess the reality of the intent to introduce change. The core of the next few months, and perhaps the entire first term, rests squarely upon the nature […]

    Economics / deflation, inflation, inflation expectations, interest rates, liquidity trap, monetary policy /

    Inflation: Not!

    June 17, 2009

    I don’t want to spend much time on this, but we should take a quick look at the inflation figures that came out this morning. Inflation doesn’t exist. The Consumer Price Index rose a paltry 0.1% in May after having been flat in April. Over the past year prices have actually declined 1.3%. That’s not […]

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