All Posts Tagged With: "banking crisis"
My Recent TV Appearance
Last week I appeared on the Arkansas Educational Television Network’s Unconventional Wisdom, hosted by David Sanders. The topic was the banking crisis.
30Mar2009 | Sheldon Richman | 0 comments | ContinuedSo Where's the Credit Crunch?
President Obama “summoned” (the news media’s word) a dozen big bank CEOs to the White House for discussions about the economic crisis. At at brief news conference afterward, the CEOs were asked if they would change their banks’ behavior just because Obama asked them to lend more. The head of PNC Bank said he and [...]
27Mar2009 | Sheldon Richman | 0 comments | ContinuedThat's Politics for You
I found this interesting tidbit in Wikipedia’s entry on the Gramm-Leach-Bliley Act: Democrats agreed to support the bill after Republicans agreed to strengthen provisions of the anti-redlining Community Reinvestment Act… G-L-B, the last significant bank deregulation that occurred in the U.S., repealed the part of the New Deal’s Glass-Steagall Act that forbade a single institution [...]
12Mar2009 | Sheldon Richman | 0 comments | ContinuedAnd Now for Something Completely Different
Some banks don’t want taxpayer money. From the AP: A small but growing number of community banks are backing out of the government’s bailout, which they see as fraught with hidden strings and government interference.About 20 banks so far that applied for or had been approved to receive about $1 billion combined in taxpayer money [...]
30Jan2009 | Sheldon Richman | 0 comments | ContinuedRegulatory or Market Failure?
Freeman contributor Gerald O’Driscoll’s ThinkMarkets blog post on the failure of regulation in the current economic turmoil is worth reading. Here’s a taste: With the exception of health care, financial services is the most highly regulated industry in America (and, generally speaking, in all developed countries). No segment of the industry escaped regulation….We have witnessed [...]
22Jan2009 | Sheldon Richman | 0 comments | ContinuedLegal Counterfeiting
Great editorial today on the Federal Reserve by Freeman columnist Walter Williams in the Washington Times
18Dec2008 | Mason Drake | 0 comments | ContinuedThe Subprime Crisis Shows that Government Intervenes Too Little in Financial Markets?
Start with two assumptions. No. 1: banking and financial markets are inherently unstable. No. 2: government intervention into banking and financial markets can only stabilize (never destabilize). You’ll find it easy to conclude that any period of market instability we experience, like the recent subprime-lending problem, is the market’s fault and that it could have [...]
1Oct2008 | Lawrence H. White | 0 comments | ContinuedThe Great Depression According to Milton Friedman
The author extends special thanks to Lawrence H. White and Ivan Pongracic, Sr., for their helpful comments. Few events in U.S. history can rival the Great Depression for its impact. The period from 1929 to 1941 saw fundamental changes in the landscape of American politics and economics, including such monumental events as America ‘s going [...]
1Sep2007 | Ivan Pongracic Jr. | 77 comments | ContinuedPlunder in Argentina
On December 3, 2001, the government of Argentina banned its citizens from withdrawing their bank deposits. They amounted to US$70 billion, one-and-a-half times the national budget, more than half the country’s public debt. This was not an isolated act, but a desperate measure taken by a government that, despite the belief that it followed free-market [...]
1Sep2002 | Guillermo M. Yeatts | 1 comment | ContinuedBank Deregulation and Monetary Order by George Selgin
Routledge • 1996 • 288 pages • $69.95 Parth Shah is an economics professor and president of the Center for Civil Society, New Delhi, India. The classical gold standard is generally considered to be the only monetary system consistent with the principles of laissez faire. In that system, the currency issued by the government is [...]
1Dec1997 | Parth J. Shah | 0 comments | Continued-
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