All Posts Tagged With: "systemic risk"
Alchemists of Loss: How Modern Finance and Government Intervention Crashed the Financial System
The subprime crisis and financial meltdown have spawned dozens of books, some aimed at re-enshrining John Maynard Keynes, others at laying him to rest once more; some aimed at praising the Federal Reserve for staving off another Great Depression, others at blaming it for treating the economy to another cyclical episode. In Kevin Dowd and [...]
26Oct2011 | Roger W. Garrison | 0 comments | ContinuedGetting in Deeper
In what the Wall Street Journal calls “a watershed moment for government intervention in the private sector,” the Federal Reserve announced in October that it will regulate executive compensation at all banks so they will not have incentives to take on too much risk. Meanwhile, the Obama administration said it would cut by half (on [...]
5Jan2010 | Sheldon Richman | 1 comment | ContinuedA Failure of Capitalism: The Crisis of ’08 and the Descent into Depression
Richard Posner’s latest book belongs to the fast-expanding cottage industry of financial crisis books. A federal judge with a grounding in economics, Posner would seem to be an ideal person to tackle this complicated subject. Alas, he provides neither fresh material nor an interesting perspective. Posner describes well-known events—the failure of investment banks Bear Stearns [...]
5Jan2010 | Chidem Kurdas | 1 comment | ContinuedSystemically Risky
I have more to say about government as a systemic risk here. A teaser: The Obama administration and congressional leaders assure us that the government can protect us from the “systemic risk” posed by big banks, insurance companies, and hedge funds.But who will protect us from the government?
30Apr2009 | Sheldon Richman | 0 comments | ContinuedTGIF: Boomerang: Government and Systemic Risk
If you’re not careful when throwing a boomerang, it could come around and hit you in the back of the neck. Politicians and bureaucrats should learn the same lesson when touting their supposedly indispensable role in safeguarding the country’s economic security. If you look closely, you find that they are the biggest source of the [...]
24Apr2009 | Sheldon Richman | 0 comments | ContinuedToo Big to Fail
“Once you lose your freedom to fail, you also lose your freedom to succeed and you cease to be a free society.” —U.S. Rep. Jeb Hensarling of Texas In March 2008 the investment banking firm Bear Sterns failed and the federal government quickly stepped in. The public was inundated with the phrase “too big to fail” [...]
2Mar2009 | Michael Heberling | 8 comments | Continued-
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