Extreme or Not Extreme?

by on January 7, 2016

That is the question.

A friend of mine pointed me to Thomas Friedman's latest effort in the New York Times. It's too long for me [more…]

Interest Rates

by on September 22, 2015

The Fed's decision last week not to raise interest rates has produced a predictable burst of apoplexy in the banking industry.

So what?

Banks would [more…]


by on July 7, 2015

So we reach the end. Good. Let democracy and popular government prevail. The entire Euro project was conceived by a small group of elitist technocrats, [more…]

Too Big To Prosecute?

by on December 12, 2013

Add another advantage to being a big business: apparently you're too big to prosecute. I came across an article in the New York Time's DealBook [more…]

The Shiller Hedge

by on September 25, 2013

One of the reasons economists can be really annoying is that they always hedge. Or rather the more ethical, sober, and diligent ones do. This [more…]

Austerity: Democracy Versus Capitalism

by on April 4, 2013

That's where we are. That's where we've been for a while. That's where we're likely to stay. Get used to it.

Don't get me wrong: [more…]

Oh, Those Crazy Mega-Banks

by on March 18, 2013

Oh dear. I managed to avoid talking about banks for quite a while. It seems time to revisit our favorite villains. They're up to no [more…]

Standard & Poor’s

by on February 6, 2013

It is good news that Standard & Poor's is being sued by the government. S&P was complicit in the market rigging that led us to [more…]

Geithner’s Poor Legacy

by on January 30, 2013

It's my turn to comment on Tim Geithner's unfortunate legacy at the Treasury Department.

I think that, by and large, that legacy has to be [more…]

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…]