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Economist's View
Economist's View (economistsview.typepad.com) has great US Economic Bailout of 2008 news, photos, videos and more
Monday, Dec 28
Fed Watch: Why Christmas Eve?
Why Christmas Eve?, by Tim Duy: One would think that policymakers would treat the day before Christmas as sacrosanct, if not for the sake of their employees, but to avoid the endless conspiracy theories that naturally arise when you partake in activities that look like they are intended...
Tuesday, Oct 6
"Clash of Autonomy and Interdependence"
But now these same institutions are deciding that they want to go their own way again. ... Dismissing the risks that taxpayers incurred, financial institutions used the bailout to restore profitability and are now reverting to their old habits...
Wednesday, Sep 30
Does America Need "A Moral Revival"?
The decline and fall of David Brooks, by Andrew Leonard: America needs "a moral revival," declares David Brooks... We are drowning in a sea of debt, and this is because we have lost our moorings; we have abandoned our tradition of Calvinist restraint, self-denial and frugal responsibility....
Tuesday, Sep 22
"On the G20 Agenda"
On the G20 Agenda, by Tim Duy: Simon Johnson at the Baseline Scenario has a nice piece bemoaning the US pursuit of a rebalancing agenda at the upcoming G20 meeting. I largely agree with Johnson's tone. Something that sounds nice, but that to which no parties, particularly China and the US, ca...
Monday, Sep 21
Fed Watch: Even With Growth, A Long, Hard Road
Even With Growth, A Long, Hard Road, by Tim Duy: The economic backdrop behind this week's FOMC meeting is almost startlingly refreshing. The recession likely ended at some point during the summer, an occasion effectively confirmed this week by the highest authority in the land, Federal...
Saturday, Sep 12
"Too Big to Take a Pay Cut"
Where Politics Don’t Belong, by Tyler Cowen, Commentary, NY Times: For years now, many businesses and individuals in the United States have been relying on the power of government, rather than competition in the marketplace, to increase their wealth. This is politicization of the econ...
Tuesday, Sep 1
Triple Time-Inconsistent Policy
Let us consider the case in which the private sector has reached the conclusion that the government will follow the time-inconsistent optimal policy (in the above-mentioned episodes this would correspond to the cases in which, counterfactually, the IMF bailed out Russia in 1998, and...
Wednesday, Aug 26
"The Dangers Ahead for Bernanke"
Update: This is from Barry Ritholtz. It addresses the view held by many that Bernanke should not have been reappointed because he helped to create the housing bubble (which implicitly assumes the Fed is responsible for the bubble - I think the low interest rate policy after the dot.com cras...
Saturday, Aug 15
"Keynes was Really a Conservative"
Though this argues that Keynes was a conservative, I don't think it much matters what label we attach to Keynes, it is the idea that government intervention preserves rather than destroys the capitalist system that is important. If we had no government intervention at all, no automatic s...
Thursday, Aug 13
The Anti-Greenspan
Dani Rodrik wants the Anti-Greenspan - someone who truly distrusts financial markets and the ideology that surrounds them - to be the next Fed Chair: Let finance skeptics take over, by Dani Rodrik, Commentary, Project Syndicate: ...Federal Reserve Chairman Ben...
Wednesday, Aug 12
Would Saving Lehman Have Saved the Economy?
Ken Rogoff: The Confidence Game, by Kenneth Rogoff, Commentary, Project Syndicate: Next month marks the one year anniversary of the collapse of ... Lehman Brothers. The fall of Lehman marked the onset of a global recession and financial crisis the...
Monday, Aug 10
Paul Krugman: Averting the Worst
Note: The actual column, "Averting the Worst" by Paul Krugman, is here.] Ronald Reagan was wrong: sometimes the private sector is the problem, and government is the solution. Yeah, Republicans aren't exactly fans of the stimulus package. They'd reverse it right now if they could.
Friday, Aug 7
"Keep Shoveling that Stimulus"
The Obama administration erred in asking for too small a stimulus, especially after making political compromises that caused the stimulus to be less effective than it could have been. It made another mistake in designing a bank bailout that gave too much money, with too few restrictions...
Wednesday, Aug 5
"Mr. Bailout"
A few notes from Economics of Contempt's notes on David Wessel's new book: Quotes/Revelations from Wessel Book. Economics of Contempt: I was traveling all day yesterday, so I had a chance to read almost all of David Wessel's new book,...
Tuesday, Jul 14
How Should We Interpret Goldman Sach's Unexpectedly Large Earnings?
So Goldman's earnings are not simply the product of the superior talent of Goldman's executives, there is more to the story. In addition, the bad incentives that executive compensation structures provide was one of the factors that caused the crisis, and the size of the compensation poo...
Tuesday, Mar 24
Opinion: Dissent on "Which Plan is Best": Why a Second Best Plan May not be Good Enough
Why a second best bailout may not be good enough, by The Compulsive Theorist: It’s not often I find myself disagreeing with Mark Thoma, but on the issue of the Geithner bailout plan I think I do. Thoma is a careful and reasoned writer, so what comes below I say cautiously, but nonetheless with...
Friday, Sep 26
Fed Watch: Regardless of Bailout, US Economy Decelerating
Tonight we learned, however, that Republicans sabotaged a pivotal meeting today at the White House; the details are very distressing – see MarketWatch, Paul Krugman and Brad DeLong. The Republicans are playing with fire; the lack of leadership is on this issue is mind numbing. While I dis...
Monday, Sep 8
Fed Watch: Short Takes
Moreover, the bailout provides an important policy lesson – nothing truly bad can happen as long as the US Treasury is willing and easily able to float debt onto the global financial markets. Presumably, Treasury will finance any cash injections into Fannie and Freddie by issuing debt th...
