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My financial crisis thoughts that aren't common wisdom:
- The crisis itself had little to do with the weak recovery. Consumers deleveraging was bigger, not weak lending or access to cash.
- That said had the banks failed I think it would have been far worse than CW assumes. /1
- The crisis itself had little to do with the weak recovery. Consumers deleveraging was bigger, not weak lending or access to cash.
- That said had the banks failed I think it would have been far worse than CW assumes. /1
- The GSE being public is a great success and should remain so.
- From consolidating FHC regulatory regimes (outlawed under GLB) and forcing derivatives into clearing (which centrist Dems stopped in the 1990s) Dodd-Frank is a major "structural" reform. /2
- From consolidating FHC regulatory regimes (outlawed under GLB) and forcing derivatives into clearing (which centrist Dems stopped in the 1990s) Dodd-Frank is a major "structural" reform. /2
- The conceptual line between investment banking and deposit banking, if it ever made sense, absolutely doesn't after the crisis, and instead of drawing a line between the two we should harmonize them.
- Hey man, nice shot on SIFI designation as a regime but it didn't work. /3
- Hey man, nice shot on SIFI designation as a regime but it didn't work. /3
