From the FT:
Tokyo should not lose its nerve on the yen – Editorial
Trouble for the mighty repo – Gillian Tett
Commitee leans yes to Bernanke, no to a broad Fed - Krishna Guha via the Money Supply blog
From elsewhere:
Was Henry George right after all? - Economic Principals
Opaque bankers – Felix Salmon
A roadmap for more Fed easing – Free Exchange
From the FT:
How to take moral hazard out of banking - Niall Ferguson and Laurence Kotlikoff
Greece’s economic burden – Analysis
New rules on liquidity could do more harm than good – José Maria Brandão de Brito
From elsewhere:
Questions for Bernanke – Simon Johnson via The New York Times
Anemic recovery - Econbrowser
Fed Watch: Bubbles and policy - Economist’s View
By Theo Vermaelen and Christian Wolff
In the recent financial crisis, taxpayers in many countries had to pick up the bills that resulted from governments bailing out banks. The idea that the government will save you if you make mistakes encourages excessive risk-taking. Bailouts have created popular resentment against bankers’ compensation, which makes it difficult to pay competitive salaries after a bank is rescued. So bailouts, which also add to the government deficits and crowd out other government spending plans, have many undesirable characteristics.
From the FT:
Competitive devaluations threaten a trade war – Michael Pettis
Tactical taxation – Editorial comment
The real cost to business of government guarantees – John Kay
From elsewhere:
Double dip warning – NY Times, Paul Krugman
Feudal Lords Of Finance – Simon Johnson
The morals of bailouts - Felix Salmon
Going Beyond the Rules - iMFdirect
From the FT:
Retread required: State of global trade governance – Analysis
Deflating the bubble – Charles Goodhart
Central banks vs. governments – Chris Giles on Money Supply blog
From elsewhere:
Systemic risk and Fannie Mae - Wall Street Journal
Hoarding international reserves: Lessons from the crisis – Joshua Aizenman
Things to come – Paul Krugman
By Moritz Schularick and Alan M. Taylor
Are credit bubbles dangerous? Long-run historical data reveal that important changes have taken place in the financial system over the past decades, setting in train an unprecedented expansion in the role of credit in the macroeconomy. It is mishap of history that just at the time when credit mattered more than ever before, the reigning doctrine had sentenced it to playing no constructive role in central bank policies. Over the past 140 years, episodes of financial instability were often the result of “credit booms gone wrong”.
From the FT:
Time is up for short-term thinking in global capitalism – Al Gore and David Blood
Dubai gambles with its financial reputation – Jim Krane
Boomtime politicians will not rein in the bankers – Avinash Persaud
From elsewhere:
Taxing the speculators – Paul Krugman, NY Times
Dubai World: A great precedent – Felix Salmon
Repairing China’s financial system – Michael Pettis
From the FT:
Only competition can safeguard free markets – Maurice Saatchi
A healthy appetite for the right price – John Gapper
From elsewhere:
Can the Euro Zone survive economic recovery? - Martin Feldstein
This Time is Different – Fiscal Policy in Low-income Countires – IMFDirect
Is the UK still in recession? – VoxEU
From the FT:
Heed the danger of asset bubbles - Robert Zoellick
Alpha males must trade on more than machismo – John Coates
From elsewhere:
Ahead of Black Friday – Economist’s View
Government outsourcing: Public contracting with private monopoly – VoxEU
Beware the result of outrage - NY Times
Morgan Stanley speaks: Against relying on capital Requirements – Peterson Institute for International Economics
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