- © 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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Tag Archives: Subprime crisis
Libor needs to be scrapped—not reformed
Last Friday, a top British top financial regulator issued a report suggesting numerous reforms to the London Interbank Offered Rate (Libor). Libor, a benchmark interest rate that affects more than $300 trillion in financial transactions, is constructed from the cost … Continue reading
The biggest threat to capitalism
Most of us spend more time thinking about the latest London Olympics results than the scandal surrounding the London InterBank Offered Rate, or Libor. That is a big mistake. We should be paying more attention to the Libor scandal. And … Continue reading
Posted in Financial Crisis, financial regulation
Tagged intermediation, Libor, Lloyd Blankfein, Madoff, MF Global, Subprime crisis
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Time to go negative!
Since the outbreak of the subprime meltdown, the Federal Reserve has shown itself ready, willing, and able to adopt unconventional monetary policies in order to reverse the downturn ushered in by the financial crisis. Recent Fed innovations have included quantitative … Continue reading
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
