- © Richard S. Grossman and Unsettled Account, 2010-13. Unauthorized use and/or duplication of this material without express and written permission from Richard S. Grossman is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Richard S. Grossman and Unsettled Account with appropriate and specific direction to the original content.
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Monthly Archives: November 2010
Just like the American family!
Two high profile bipartisan budget commissions have been working on plans to return the US to fiscal balance. One, under the auspices of the Bipartisan Policy Center (a non-profit group), is chaired by former Senate Budget Committee Chairman Pete Domenici … Continue reading
Posted in government budget
Tagged Alan Simpson, Alice Rivlin, debt, Erskine Bowles, pete domenici
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Don’t change the Fed’s mandate
Writing in the Financial Times, Stephen Roach concludes that it is “[t]ime to revamp the Fed’s flawed mandate.” Roach argues that maintaining financial stability should be added to the Fed’s current dual mandate of maximum employment and price stability. Such … Continue reading
Historical perspective on the current crisis
Posted in Financial Crisis, Unsettled Account
Tagged bailouts, financial deregulation, financial lockdown, mergers, regulation, Unsettled Account
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Ireland’s Troubles
In a bitter editorial, The Irish Times laments the country’s financial difficulties in historical terms. Was it for this? IT MAY seem strange to some that The Irish Times would ask whether this is what the men of 1916 died … Continue reading
Posted in Financial Crisis
Tagged bailouts, Bank of New South Wales, Banque de Belgique, Ireland, Patrick Honohan
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Two Cheers for Basel III…or Waiting for Basel 3.5
Citibank chief Vikram Pandit warns in the Financial Times against excessive increase in capital and liquidity requirements. This is a tough argument to make in the aftermath of a serious crisis in which banks and other financial institutions were caught … Continue reading
Posted in Financial Crisis, financial regulation
Tagged bank capital, Basel accords, Citibank, Masami Imai, Vikram Pandit
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Bank capital and why it is important
Since I will return to the subject of bank capital, it is probably worth spending a few lines describing what it is and why it is important. You can’t start a bank—or any new enterprise, for that matter—without some start-up … Continue reading
Posted in financial regulation
Tagged bank capital, cash flow, debt, dividends, equity, information asymmetry. regulation
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