Tag Archives: Banking Deregulation

Libertarian Capitulation

When historians want to mark the moment the hyper-libertarian economic philosophy died in America, they might take this morning’s appearance by Ayn Rand’s disciple, Alan Greenspan before the House Oversight Committee. Mr. Greenspan said he had made a “mistake” in … Continue reading

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Fox Requests Better Security on Henhouse

I must say it takes a lot of nerve for SEC Chairman Chris Cox to write an Op-Ed calling for better regulation of the Derivatives Market. As I have pointed out recently, Cox’s appointment to head the SEC was part … Continue reading

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Calling Greenspan to Account

Somehow Alan Greenspan has been able to escape blame for the mess we find our selves in today. But as Peter Goodman points out this morning, the fingerprints of Greenspan’s radical Ayn Rand libertarianism are all over the Credit Crisis. … Continue reading

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Calling Greenspan to Account

Somehow Alan Greenspan has been able to escape blame for the mess we find our selves in today. But as Peter Goodman points out this morning, the fingerprints of Greenspan’s radical Ayn Rand libertarianism are all over the Credit Crisis. … Continue reading

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The Fateful Decision

Last month I wrote about the fateful decision of the SEC to free the big investment banks from fixed leverage ratios. This morning, The New York Times catches up and writes a good piece on that little known decision. Many … Continue reading

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Bad Timing

John McCain just published an article in a health care magazine. Here’s his money quote. Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices … Continue reading

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Why AIG Matters

The fall of the insurance giant AIG is perhaps the most dangerous of all the financial shocks that have hit us so far. Michael Lewitt explains why. A.I.G. does business with virtually every financial institution in the world. Most important, … Continue reading

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Roots of The Credit Crisis

This seemingly innocuous power point slide from the Securities and Exchange Commission (SEC) was used in June of 2004 to explain to market participants a new ruling on how broker dealers could compute their “net capital”. Instead of the previous fixed … Continue reading

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Privatized Profits & Socialized Risk

Hillary Clinton and Bob Rubin are a matched set. They were always at the table when the great decisions were made, but they are never accountable for the mistakes. Here’s former Clinton Treasury Secretary and Citibank Exec Rubin on his role … Continue reading

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