- © 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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Category Archives: subprime crisis
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
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
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
Gary Becker and the law of the jungle
The sub-prime crisis and the ensuing economic slowdown have led many to question some widely held economic tenets, particularly the belief that unfettered markets inevitably lead to the best of all possible outcomes. Writing in yesterday’s Wall Street Journal, University … Continue reading
How bad does Edward Lazear need it to be?
Writing in Friday’s Wall Street Journal, Stanford professor Edward Lazear argues that the real danger to the American worker is too much government–in other words: too many taxes and too much spending. Prof. Lazear writes: During the debt-ceiling debate, President … Continue reading
Posted in Financial Crisis, government budget, subprime crisis
Tagged Alan Greenspan, Bill Clinton, Ed Lazear, George W. Bush
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Happy 145th Anniversary!
I cannot let this day end without acknowledging the 145th anniversary of the failure of Overend, Gurney, and Company, which set off one of the 19th century’s more spectacular financial crises. Writing the day after the failure, the Times of … Continue reading
Alan Greenspan is disappointed in Dodd-Frank
I am devastated. Writing in the Financial Times today, Alan Greenspan, argues that the Dodd-Frank Wall Street Reform and Consumer Protection Act will have–indeed is already having–unintended consequences. He cites five specific cases. 1) Making credit ratings agencies legally liable … Continue reading
Forum shopping
The Financial Times reports that Oswald Grübel, chief of the Swiss bank UBS, “…has attacked the UK government for its public neglect of the City of London, warning that tougher regulations will see Britain and the rest of Europe cede … Continue reading
Interesting reading
The 600-plus page report of the US Financial Crisis Inquiry Commission should make for interesting reading for those with the patience to read it. It would be useful to wade into the argument between the Commission, which argues that the … Continue reading
