Top bank lawyer’s e-mails show Washington’s inside game at Bloomberg shares insights into how regulation is impacted when regulators and the industry regulated share too much. Pruning Hedge Fund Regulation Without Cultivating Better Rules By Jesse Eisenger, ProPublica at Dealbook, NYT also writes on the SEC and de-regulationscommercial water slides for sale.
An email correspondence between Glenn Kessler and me yesterday afternoon and evening, which I’m publishing here in full, speaks adequately for itself, I think. But first, this, because I think it’s relevant: NEW YORK – Mitt Romney on Friday denounced an anti-Muslim film that is stirring unrest in the Middle East, even as he stood […]
The headline on the Washington Post’s opening Web page was irresistible: “Romney aides: No Mideast turmoil if he were president.” The headline of the actual article, by Philip Rucker, though, is headlined “Romney team sharpens attack on Obama’s foreign policy.” Both headings are accurate. Romney’s foreign policy team—drawn, apparently, entirely from the farthest-right faction of […]
Glenn Kessler, the Washington Post’s Fact Checker, wrote last evening: The controversy over a statement issued by the U.S. Embassy in Cairo is an interesting example of how words and context matter. State Department officials reportedly tried to dissuade the embassy staffer who wrote it from posting it, but he did so anyway. Nuland’s comment on Thursday […]
One not particularly cute graph; no analysis, explanation, nor editorializing. GDPI is gross domestic private investment. NDGIC96 is Real Federal Nondefense Gross Investment. SLINVC96 is Real State & Local Government Gross Investment. Source page at FRED. Note that private investment runs at about 7 times the total of government investment at all levels. Make of […]
There is a perhaps strategically overstated disagreement among enthusiasts for QE III about how it might help. Woodford et al stress the importance of QE as a signal of precommitment to expansionary future conventional monetary policy which will act through short term interest rates when the FOMC will be inclined to raise them above the […]
The FOMC announces QE III !* To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee agreed today to increase policy accommodation by purchasing additional agency mortgage-backed securities at a pace of $40 billion per month. The Committee also […]
At his press conference, Romney accused Obama of “having that embassy reiterate a statement effectively apologizing for the right of free speech.” Romney claimed that the embassy had said, in his paraphrase, “We stand by our comments that suggest that there’s something wrong with the right of free speech.” This, too, was a Romney lie. […]
I am just catching up with some of the news this week. Barkley Rosser at Econospeak had a timely post on 9/11 ceremonies and reminds us about what we accept as special or inevitably normal: Things More Worthy Of Remembrance Than 9/11 Yes, what happened 11 years ago today was awful and tragic, and there is much […]