Sandy Weill Said What?

by on July 25, 2012

I must be getting old. Too old to understand English anymore. Sandy Weill, architect of Citibank's ill advised growth, and long time advocate of the [more…]

Volcker and Banks

by on February 14, 2012

We have reached a crucial point in our attempt to bottle up the banks. It looks as if they will win. That means the economy [more…]

Break Up The Banks

by on October 20, 2011

Before they break us up. Again.

I have stayed away from discussing the banks in recent months largely because I consider the solution to our [more…]

Bank Capital: More Please

by on June 21, 2011

Our banks remain chronically undercapitalized. That is to say they run on too narrow a cushion of equity capital that can be extinguished by losses [more…]

Greece: A New Low

by on June 15, 2011

Count me among those who expect Greece to default on its debt. I see no viable alternative. The Greek experience is unique. Other troubled Euro [more…]

Jobs: So What?

by on April 1, 2011

I don't want to sound unduly negative. Today's report on unemployment is good news. Sort of. The economy added 216,000 new jobs and the unemployment [more…]

Bank Non-Reform

by on March 31, 2011

There wasn't any.

There. That makes it easy to remember. After 2,200 pages of tightly worded legal jargon the law known as Dodd-Frank left our [more…]

From The Mouths of The Elite …

by on March 11, 2011

I am a big fan of the Financial Times. One or two of its contributors seem to get things right. But, periodically we come across [more…]

I Lost My Ticket To Davos

by on January 31, 2011

That's obviously why I wasn't there.

No? Well how about this: I am a pleb. Sorry about that, I have no right to think that [more…]

House Prices Slip Again

by on January 25, 2011

It is worth noting today's Case-Shiller index report. Home prices slid slightly again in November, the latest month for which we have data. The decline [more…]