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good morning to Germany's perennial soul-searching about banking reforms, that somehow result in calls for more 'financial capitalism'

ft.com/content/3ec6d2… via @FinancialTimes
FT readers never let us down: 'who writes these articles? American banking interns?' Image
besides American banking interns, the view of German banks needs to go big investment banking prevails in SPD circles too.

Heard with my own ears an SPD MEP berating a cooperative bank rep for 'being stuck in the 1950s with your patient banking'
the other school of thought BTL, far more amusing, is that Germany has, for cultural reasons, only produced 'exceptionally mediocre finance talent' recently. Image
for the next instalment of our 'Keynes in the financial globalisation age' debate - did trade surpluses pressure German banks into US shadow banking @adam_tooze Image
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Daniela Gabor
@DanielaGabor
it's 2020, World Bank waxes lyrical about maximising private finance for development, G20 promotes local currency bond markets yet if you are a human without a Bloomberg terminal, finding data on African local sovereign bond markets is more painful than extracting a tooth.
and dont AFMI at me, has site has been under maintenance for the last two months.
on the other hand, looking for data/analysis takes to unusual places like this: stories of empire, sovereign bond markets edition. Image
Read 11 tweets
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Daniela Gabor
@DanielaGabor
Oh look, the U-turn government has still found a way to hurt working class universities
and if you wonder what this means, here it is:

the cap was there to ensure the 24 higher ranked #RussellGroup Unis dont hoover all students and teach them with precarious part time staff, leaving the other (roughly) 80 scrambling, particularly in COVID19 times
you may say, this is great, we should all be educated in Russell Group, though in my experience lower tier unis like mine focus far more on teaching, on NSS scores, because RussellGroup also hoovers up most research income.
Read 15 tweets
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Daniela Gabor
@DanielaGabor
almost quaint that IMF still holds onto 'human capital' to account for divergent growth performance,

but then I read about Eastern Europe's 'success' story and am reminded of how destructive IMF's role in the region has been in early 1990s
seriously, 4 highly-paid economists wrote this ideological crap that wouldnt even pass in an MA dissertation.
IMF economists designing lending packages to Eastern Europe in early 1990s thought that the region suffered from excess demand inherited from socialism, and prescribed the monetarist medicine: devaluation, tight money, tight fiscal policy. Image
Read 16 tweets

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