Guest Blog: Financial Crisis and Reform Déjà Vu

By Simon van Norden Today, we’re fortunate to have Simon van Norden, Professor of Finance at HEC Montréal (École des Hautes Études Commerciales), as a guest blogger. “Once you’ve seen one financial market crisis…you’ve seen one financial market crisis.”  — Attributed to Federal Reserve Board Governor Kevin Warsh by former US Treasury Assistant Secretary for […]

Keeping Us There

In a New York Times commentary, economist Alan S. Blinder questions why the impetus to clean up Wall Street has suddenly faded.  After all we’ve been through, and with so much anger still directed at financial miscreants, the political indifference toward financial reform is somewhere between maddening and tragic. Blinder places much of the blame […]

The Wait for Financial Reform

Alan Blinder is worried that the will to reform the financial sector is fading:   The Wait for Financial Reform, by Alan S. Blinder, Commentary, NY Times: …We are barely emerging from the greatest financial crisis since the 1930s. From last September to March, it was downright frightening. Yet by the time Congress left town for […]

More on the FDIC as a Catalyst

In continuing the  train of thought initiated in “The FDIC as a catalyst, or the new Doo Doo 32!”, I am going to release some interesting data points for subscribers and non-paying readers alike.  The FDIC imposed a special assessment charge on all FDIC insured depository institutions in 2Q09- which amounted to 5 basis points […]

Bailout Profits? Don’t Make Me Laugh!

“The government has taken profits of about $1.4 billion on its investment in Goldman Sachs, $1.3 billion on Morgan Stanley and $414 million on American Express. The five other banks that repaid the government — Northern Trust, Bank of New York Mellon, State Street, U.S. Bancorp and BB&T — each brought in $100 million to […]