- © Richard S. Grossman and Unsettled Account, 2010-12. 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
Enforce the regulations that we already have
Republicans and Democrats are arguing over how many regulations we should add—or remove—from the financial services industry. Before we think about altering the regulations, we should think about enforcing the ones we currently have. Ever since the sub-prime meltdown erupted … Continue reading
Doomed to repeat it?
The Financial Times reported this week on a study by the Chartered Financial Analyst Society of the UK that argues that “financial amnesia” among institutional investors–particularly a failure to heed the lessons of past bubbles–has contributed to the global financial … Continue reading
Unfortunately, in Greece statistics is a combat sport
The Financial Times reports that Andreas Georgiou, the head of the independent Greek statistical agency Elstat, is facing a criminal investigation for allegedly inflating the scale of the country’s fiscal crisis and “acting against the Greek national interest.” Georgiou, who … Continue reading
Where will the new capital come from?
Writing in Thursday’s Financial Times, Pimco chief executive and chief investment officer Mohamed El-Erian argues that Europe’s first order of business should be to recapitalize its banks. It is hard to argue with this prescription. With the finances of Greece, … Continue reading
Great minds think alike
Apparently, the Economist agrees with my emphasis on the rise of technocracy.
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Send in the technocrats!
Winston Churchill said that democracy is the worst form of government except all those other forms that have been tried. The financial crisis has tested Churchill’s assertion. In Greece, the austerity measures imposed on the country by the EU and … Continue reading
Penny wise and pound foolish
The institutions of government and the politicians who run them have–rightly–been criticized for many mistakes during the past few years. The Congressional budget deadlock this past summer is a case in point. The mismanagement at Walter Reed Army Medical Center, … Continue reading
Alan Meltzer’s straw “Keynesian”
Remember when “liberal” became the insult of choice among Republicans? Apparently, “Keynesian” has now taken on that status for Republican economists. Never mind that Keynesian is ill-defined (old Keynesian? new Keynesian? the Keynesian part of the neoclassical synthesis?)–making Keynesian a … Continue reading