Talk Rises About Sovereign Debt Cancellation

By: Monday October 22, 2012 9:40 am

It’s an intriguing question: why can’t central banks around the world, practically all of whom have bought up sovereign debt, just cancel it?

Countries would get more headroom on their debts, inflation would rise but not necessarily at an unmanageable rate. It would have the effect of hitting the reset button.

 

ECB’s Mario Draghi Promises “Whatever It Takes” to Save the Euro

By: Saturday July 28, 2012 7:00 pm

European markets have surged over the last 24 hours, basically entirely due to a speech by Mario Draghi, the head of the European Central Bank. He said that his organization would do “whatever it takes” to save the euro, and that was apparently all it took.

Central Bankers Consider Ending Libor Altogether

By: Thursday July 19, 2012 8:52 am

The idea that 16 banks just send a slip of paper to the British Banking Association every day, and that rate becomes a global standard for all sorts of financial products, including $550 trillion in derivatives contracts, borders on the insane.

Corruption or Incompetence; the Economic Effects Seem the Same

By: Wednesday November 30, 2011 5:12 pm

One of the on-going arguments across the blogosphere and even the entire world is whether the economic problems of the last ten years are more related to incompetence or basic corruption. I must say, just the last week has offered plenty of evidence for both views. For example, we had this article from Bloomberg yesterday (Tuesday, November 29) about how then Treasury Secretary Hank Paulson met with his hedge fund buddies and gave them the first class insider information on his plans to place Fannie Mae and Freddie Mac into “conservatorship.”

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