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mythbusters: telling the truth about the financial crisis, part ii
Last week, I began musing here, about mining the Financial Crisis Inquiry Report to confront the top ten urban myths about the Financial Crisis. Expecting to dash off a blog series in a day or so, I...
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mythbusters: telling the truth about the financial crisis, part iii
This post is the last installment in a three-part series harvesting the recent Financial Crisis Inquiry Report (FCIC Report) to debunk the top-ten urban myths about the Financial Crisis. To read about...
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if i had a hammer
As I feast on financial crisis books, thought I’d share this tasty bit from Dean Baker’s False Profits: Recovering from the Bubble Economy. On page 9, Baker writes: “Progressives do the conservatives’...
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bipartisan senate panel report slams banks and bureaucrats: “please sir, i...
William Blake’s The Marriage of Heaven and Hell came to mind, late Wednesday night as I waded through “Wall Street and the Financial Crisis: Anatomy of a Financial Collapse.” That is, the...
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what network science has to say about large universal banks
A few days after he made the fateful acquisition of Golden West, Ken Thompson, then CEO of Wachovia Corporation exuberantly celebrated the universal bank model that had emerged in the United States in...
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rogue traders and stormy weather
I tell my class that a crisis can spring from the most unexpected sources. You never see the lightning that strikes you. Now we focus on some of the most obvious risks, such as a sovereign debt...
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everybody wants to rule the world
Possibly my two favorite things are 80s music and Goldman Sachs-related grandiosity. So, a combo is a special treat. We have them together with the BBC-broadcasted-boastings of independent trader...
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we heard it from three people, so it must be true
In yesterday’s New York Times, Joe Nocera incisively attacked the persistent falsehood that Fannie Mae and Freddie Mac were “ground zero” for the financial crisis. In “An Inconvenient Truth,” Nocera...
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holding out for holder to prosecute libor liars
“Tim Geithner had evidence of a financial crime of epic proportion — so he wrote a memo,” quipped Charles Gasparino in the New York Post yesterday. This one-sentence observation of Geithner’s inaction...
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nailing naked nonsense
Teaching and research distractions have again kept me from blogging for a while. I guess my defense is that learning the facts is always an important precursor to writing about them. This morning,...
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