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This is monetary policy nerd heaven. Jean-Claude Trichet, Mervyn King, Ben Bernanke, and Stanley Fischer reminiscing together about the 2008 global financial crisis. #FinancialCrisisReview arevie.ws/10yFinCon
.@benbernanke: "In a crisis, look for the short term potential liability."
"Short-term interest rates like LIBOR were much better indicators of the economy than house prices." @benbernanke That's would bring back memories of daily LIBOR calls and stories, eh, @GavinFinchBBG?
I'm at the @AnnualReviews/@CFAResearchFndn /@MIT/@nyuniversity ten year review of financial economics since the financial crisis. Taking notes on twitter, if you're here say hi!
"Shadow and standard banking are symbiotic. You kill one, kill the other.
A long standing, large, and permanent transition has taken place.
The panic of 2007-8 showed how the system can morph, but in a longer time horizon than we usually think of."
Gary Gordon @YaleSOM
A long standing, large, and permanent transition has taken place.
The panic of 2007-8 showed how the system can morph, but in a longer time horizon than we usually think of."
Gary Gordon @YaleSOM
Allegations against loan loss reserve accounting:
- too little accrual in good times
- too much in bad times
- procyclical effects
Pecipitated shift to expected loan reserve model.
This front-loads credit loss. Direct hit to income. Likely procyclical.
Ryan @nyuniversity
- too little accrual in good times
- too much in bad times
- procyclical effects
Pecipitated shift to expected loan reserve model.
This front-loads credit loss. Direct hit to income. Likely procyclical.
Ryan @nyuniversity
