Archive for February, 2009

The Cause of the Crisis: Implications for Regulation

Sunday, February 22nd, 2009

UPDATE 05 March 2009: I would add that in light of what seems an unbelievable overextension of their balance sheet by writing hundreds of billions of dollars or more in Credit Default Swap (CDS) contracts they could not even remotely begin to conceive of being able to honor in the event, it would probably be […]

A Word on Presidential Rhetoric

Sunday, February 22nd, 2009

President Obama has been using the phrase “the tired policies of the past” quite a bit to refer to supply-side conservative economic ideas.  He should be careful.  These words sound like words that could have been uttered by Reagan in 1980 or by Newt Gingrich in 1994. The tired policies of the past are precisely […]

On Rick Santelli and People Who Reached Too Far On Homes

Sunday, February 22nd, 2009

UPDATE:  02/24/2009 – In his semi-annual Humphrey-Hawkins testimony this morning, Fed Chairman “Helicopter” Ben Bernanke weighed in on this issue.  He gave the analogy of your neighbors house on fire because they were smoking in bed.  He said in this case, while you do not condone the bad behavior that led to the fire, you […]