Tag Archives: Dodd-Frank
Nation states fight to keep control over money
The major international efforts after the crisis has focussed on action by each state to increase fiscal and monetary stimulus so as to move as close as it dare to full employment. In bank regulation, also, the emphasis has been on national measures, as in Dodd-Frank and similar measures in Japan and the…
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Sleeepwalking to destruction
I do not suppose that central bankers like to be compared to witches, but for my money the best account of how the financial crisis came about is in Macbeth. Banquo warns Macbeth to be wary of the witches’ implied promises: And oftentimes, to win us to our harm, The instruments of darkness tell us…
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Is global financial reform possible?
Paul Volcker, one of the few universally-esteemed central bankers of the 20th century, has summed up in a few words the messages of The Money Trap. Maybe I should have saved myself the trouble of writing the 340 page book. At least, that was my immediate thought on reading his article. A colleague called to…
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