Gaming the System: The Corporate Way to Profit In Spite of Statutes or Regulations

By: Thursday April 8, 2010 1:15 pm

The report of the Examiner in the Lehman Brothers bankruptcy case explains how the company used accounting tricks to hide its financial position, and how the accountants went along. No system will work if managers and professionals can play games with regulations and avoid personal liability.

 

Economic Stability Less Important to Deregulators Than Bank Profits

By: Sunday April 4, 2010 10:30 am

Stability is the primary purpose of financial regulation. Efficiency is a distant second. Too bad for all of us economists and the likes of Alan Greenspan got it backward.

Study Shows Economic Crisis and Response a Victory for the Rich

By: Wednesday March 31, 2010 2:15 pm

The rich won the class war. Now we find out if the Obama Administration will allow them to consolidate their victory and make it permanent.

Why Worry About New Regulations When We Don’t Enforce the Old Ones?

By: Tuesday March 30, 2010 6:01 am

You can tell that financial reform will be the next heavy lift in Washington because everyone’s chattering about it today, and proposing a variety of solutions. But they actually come down to something a lot simpler than what’s being proposed: regulators need a few clear rules, and they need to do their jobs.

Financial Innovation: What Is It Good For (I)?

By: Thursday March 4, 2010 3:18 pm

This post examines whether credit cards are an unambiguously positive financial innovation, as argued by Brookings economist Robert Litan.

President Obama’s Good Idea For Regulating Swaps

By: Sunday February 28, 2010 10:30 am

Senator Corker knows that good financial regulation isn’t a partisan issue. Let’s hope he and Senator Dodd were paying attention to the good idea of President Obama to regulate swaps by reducing the concentration of the swaps “market”.

The Not-So-Rational Finance Companies

By: Wednesday February 17, 2010 2:25 pm

The Chicago School of economics teaches that finance companies make trading decisions based on all available information, and that their decisions produce accurate prices for securities. How is that even conceivable in the real world.

Financial Companies Don’t Self-Regulate

By: Sunday February 14, 2010 10:30 am

There are many myths you have to accept if you want to be treated as a serious financial person. One is that banks are really good at risk management.

BNY Mellon Chief: Losing Money Is No Reason To Doubt Corporatist Myth

By: Sunday February 7, 2010 10:30 am

The CEO of BNY Mellon, Richard Kelly, had a chance to explain why we need gargantuan banks. He flopped.

The Lords of Finance Speak

By: Wednesday February 3, 2010 8:08 am

Our corporate overlords tell us what is good and what cannot happen. We hear and obey.

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