All Posts Tagged With: "commercial banks"
Quantitative Easing Forever?
Despite assertions that it has ended its policy of quantitative easing (QE), the Fed is unlikely to be able to do so until it also ends its zero-interest-rate policy (ZIRP). This deadly policy duo has had terrible consequences for the American economy and every country using U.S. dollars. It is as though the Fed were [...]
26Oct2011 | Christopher Lingle | 1 comment | ContinuedWho Owns the Fed?
Have you heard? The Federal Reserve System raked in profits of $79.3 billion last year, almost triple what runner-up ExxonMobil made. The Fed’s business model is a snap—just print money—and unlike poor beleaguered Exxon, the Fed has no competition to worry about. This means a gigantic windfall for the big banks because, although they don’t [...]
21Apr2011 | Warren C. Gibson | 18 comments | ContinuedBank Deregulation: Friend or Foe?
Banking has changed a lot during my lifetime—for the better. The changes are partly due to technology (ATMs, online access), but also to deregulation that subjected banks to a lot more competition. What were the major deregulatory moves and how might they have contributed to the recent crisis? Before addressing those questions, a little personal [...]
22Oct2010 | Warren C. Gibson | 5 comments | ContinuedBailout Hypocrisy
Thud. That was the sound of the other shoe dropping. In response to severe problems in the credit markets, thanks to years of government intervention, the Federal Reserve—the government’s counterfeiter and chief culprit in the current crisis—has opened its discount window to the investment banks. Interest rate: 2.5 percent. Until recently, only commercial banks could [...]
1Jun2008 | Sheldon Richman | 0 comments | ContinuedMonetary-Policy Disasters of the Twentieth Century
Kirby R. Cundiff is an associate professor of finance at Northeastern State University in Tulsa, Oklahoma, and an adjunct associate professor of finance at the University of Maryland University College. The Federal Reserve System was created in 1913 and soon did what central banks almost always do: it started printing lots of money. During World [...]
1Jan2007 | Kirby R. Cundiff | 5 comments | Continued-
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