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James Galbraith remarks

…adjourning following Bush v. Gore. This measure deregulated energy futures trading, enabling Enron and legitimating credit-default swaps, and creating a massive vector for the transmission of financial risk throughout the…

Back-of-the-Envelope: Making Sense of TARP

…random numbers together. Those “legacy” assets are trading in the market around 30. The Big C and others are carrying them on their books around 80. Several people who should…

BCCI : memes and memories

…own intelligence network, diplomatic corps and shipping & trading companies. The liquidators, Deloitte & Touche, filed a lawsuit against Price Waterhouse and Ernst & Young – the bank’s auditors –…

Simon Johnson suggests a narrative

…credit-default swaps at the Commodity Futures Trading Commission, in 1998—were ignored or swept aside. Dani Rodrik responds and states bankers were not as powerful as Johnson suggests, and the IMF…

Bananas republic?

…crisis but would have limited the financial sector’s profits—such as Brooksley Born’s now-famous attempts to regulate credit-default swaps at the Commodity Futures Trading Commission, in 1998—were ignored or swept aside….

The Two Sides of AIG

…throat…. A bailout of A.I.G. is really a bailout of its trading partners — which essentially constitutes the entire Western banking system. [edits mine*] By the way, Joe, Yves, citing…