- © 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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Author Archives: Richard S. Grossman
Most veterans speak highly of furloughs…
…except that the furloughs now in the news are of a different kind. In this case, federal employees will be put on unpaid leave of varying lengths because of the “sequester.” The long run-up to the sequester began during the … Continue reading
Forthcoming
Follow this link to an interview with Kevin Hartnett of the Boston Globe‘s “Idea’s” section. The link includes the web debut of the cover art for my book: WRONG: Nine Economic Policy Disasters and What We Can Learn from Them, … Continue reading
Posted in WRONG
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Not far enough
The International Organization of Securities Commissioners (IOSCO) published a report this week calling for the London interbank offered rate (Libor) and other such benchmark interest rates to be tied more closely to actual transactions. Sadly, the proposal does not go … Continue reading
Good news
I have been named a 2013 Fellow of the John Simon Guggenheim Memorial Foundation. During the tenure of the fellowship, I will conduct research on the evolution of banking regulation across countries and US states during the last 200 years. … Continue reading
Posted in Uncategorized
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There ought to be a law
Have you ever watched a major league infielder boot a routine ground ball and thought: “For the amount of money he’s being paid, he shouldn’t make that kind of rookie mistake”? As a fan, it is frustrating. That is how … Continue reading
Don’t Be a Regulatory Neigh-Sayer
Europe has again been rocked by a crisis. The problem was first diagnosed in Ireland in January, but it very soon became clear that its tentacles extend to Britain, France, the Netherlands, Luxembourg, Sweden, Romania, and Cyprus. What is this … Continue reading
Will the Brits go negative?
A little over a year ago, I argued that the Federal Reserve should consider charging banks for the privilege of holding their reserves. The reasoning for this is straightforward: charging interest on banks (instead of paying interest, as the Fed … Continue reading
Posted in Financial Crisis, monetary policy
Tagged Bank of England, excess reserves, Federal Reserve, Paul Tucker
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Greece is downgrading itself
On December 19 Standard and Poor’s raised its rating of Greek sovereign debt by six notches, to B-minus from selective default. The government’s decision to prosecute a statistician indicates that the upgrade was premature. According to S&P, the ratings change … Continue reading
Posted in government budget, Uncategorized
Tagged Andreas Georgiou, Greece, Standard and Poor's
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Drat you, Obama Administration!
The following (now mildly edited) op-ed was slated to appear in a major US news outlet on January 15. Unfortunately for me, but good for the country, an announcement by the Obama Administration rendered the op-ed obsolete. The main point–that … Continue reading
