10Vote!
The Huffington Post (Free subscription) | 11/19/2009
Here is my assessment. In late September 2008, Treasury Secretary Henry S. Paulson asked Congress for $700 billion to buy toxic assets from banks, as well as unconditional authority and freedom from judicial review. Many economists and commentators suspected that the purpose was to overpay for those assets and thereby take the problem off the banks' hands. Indeed, that is the only way that buying toxic...
3Vote!
Corrente (Free subscription) | 11/17/2009
Simon Johnson : [Brit banking boffins] Haldane and Alessandri offer a tough, perhaps bleak assessment. Our boom-bust-bailout cycle is, in their view, a “doom loop”. Banks have an incentive to take excessive risk and every time they and their creditors are bailed out, we create the conditions for the next crisis. Any banker who denies this is the case lacks self-awareness...
6Vote!
USA Today (Free subscription) | 8 hours ago
By , USA TODAYAs the global economy lurches from plunge to rebound, key emerging markets are erecting defenses against future financial upheavals. Brazil and have imposed new controls on cross-border fund flows, while other Asian and Latin American countries are considering similar moves."Countries are worried about the capital that's coming in," says Simon Johnson, former chief economist...
10Vote!
The Baseline Scenario (Free subscription) | 11/19/2009
Testimony submitted to the Congressional Oversight Panel, hearing on “The overall impact of the Troubled Asset Relief Program (TARP) on the health of the financial system and the general U.S. economy,” Thursday, November 19, 2009. (pdf version) Submitted by Simon Johnson, Ronald Kurtz Professor of Entrepreneurship, MIT Sloan School of Management; Senior Fellow, Peterson Institute...
3Vote!
Idealogy Update (Free subscription) | 11/20/2009
... and service provider for the UK Care Industry. For more information about the website contact Simon Johnson at Idealogy , Southampton, 02380211642
3Vote!
Marc Gunther (Free subscription) | 11/19/2009
The Motley Fool does a great series of podcasts–I’ve listened in recent months to interviews with James Fallows, John Mackey and Simon Johnson–and the other day I heard my friend Nell Minow of The Corporate Library talking about executive pay, boards of directors and her second life as Beliefnet’s Movie Mom. Nell was asked who she [...]
5Vote!
SCSUScholars (Free subscription) | 11/20/2009
I was watching the Commanding Heights third episode in class this afternoon. The first half of the episode deals with the financial crises of the 1990s, and after reading Arnold Kling and Simon Johnson this morning I thought to myself: boy the numbers got bigger! $50 billion to Mexico in 1994 (a whole country, not just a company); $55 billion to South Korea in 1997. Can one compare countries...
8Vote!
EconLog (Free subscription) | 11/19/2009
Simon Johnson writes , There is no question that passing the TARP was the right thing to do. In some countries, the government has the authority to provide fiscal resources directly to the banking system on a huge scale, but in the United States this requires congressional approval. In other countries, foreign loans can be used to bridge any shortfall in domestic financing for the banking...
11Vote!
The Plank (Free subscription) | 11/18/2009
... Lydia DePillis America’s Economic “Doom Loop.” Yes, “Doom Loop.” by Simon Johnson Are We Overpaying Potential Taliban Recruits to Keep Them From Breaking Bad? by Noam Scheiber Would Weaker Targets Mean a Cheaper Climate Bill? by Bradford Plumer Another ‘Going Rogue’ Curiosity: Sarah Palin Believes the World Is Determined to Shame Meat-Eaters...
7Vote!
EconLog (Free subscription) | 11/18/2009
... I call The Chess Game of Financial Regulation . Pointer from James Kwak . Kwak, his co-blogger Simon Johnson, and I are all deeply frustrated that regulators think that next time they will be able to get it right in regulating big banks. Our view is that big banks are inherently more difficult to regulate, if nothing else for political economy reasons. When the political system can...
5Vote!
SeekingAlpha.com (Free subscription) | 11/17/2009
The Baseline Scenario submits: By Simon Johnson “ Banking on the State ” by Andrew Haldane and Piergiorgio Alessandri is making waves in official circles. Haldane , Executive Director for Financial Stability at the Bank of England, is widely regarded as both a technical expert and as someone who can communicate his points effectively to policymakers. He is obviously closely...
