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banking industry
Opinion: Making Banks Too Small to Succeed?
By not in system - AOL News(Jan. 22) – On Thursday, the Obama administration introduced its proposal for dealing with the "too big to fail" problem for banks. "Too big to fail" refers to the idea that big banks are such an important part of a complex interconnected economy that the government doesn't dare let them fail. And how does President Obama propose to deal with this problem? By letting them fail? By not subsidizing them when they take risks and lose? Nooooooo. Obama plans to deal with it by not letting them get too big. His plan would limit both the size of banks and the kinds of assets they are allowed ...
Informed Reader Response: Crisis of Credit
By David Knowles - Politics DailyEarlier today, Dave posted a video made by Jonathan Jarvis that seeks to explain just how we got into our current financial mess (watch it here). I sent the link to somebody whose opinions on financial matters I have come to trust over the years. A retired executive in the banking industry, she offers the following critique and praise for the video:David, It's not bad. However, it is still a bit skewed despite attempting to sound matter of fact and neutral. Because of that I'd say it's not really all that helpful.1. Government policy has been to encourage home ownership and the "American ...
Fundamentally McCain
By David Knowles - Politics DailyAs the stock market continues its plunge over the failure of Merrill Lynch, Lehman Brothers, and AIG, "Hardball" reminds us that, until yesterday afternoon, John McCain believed that the "fundamentals of our economy" were strong. Though the writing has been on the wall for months, if not years, McCain clung to his old positions as if they were "fundamental" truths. Now that McCain has changed his tune, and has offered the vague promise to "clean up Wall Street," it's worth remembering that over the past twenty years, almost no one has advocated policies of deregulation more than McCain. And it ...
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