United States

Christopher Whalen

Profiles in competence: Jesse Jones & Leo Crowley

Sep 06 2011

Alan Boyce, Glenn Hubbard, and Chris Mayer (“BHM”) have published an important paper, “Streamlined Refinancings for up to 30 Million Borrowers,” which makes the case for refinancing all loans – trillions of dollars in face amount — now covered by the housing GSEs, Fannie Mae and Freddie Mac. This proposal breaks-down the evil cartel of [...]

Barack Obama and the cost of doing nothing

Aug 23 2011

It is still not too late for our leaders to get ahead of the accumulating fear that eats away daily at public confidence in currencies and markets from Los Angeles to Berlin. But the first step to turning things around is to understand that doing nothing, as has been the strategy in both the US and EU since 2008, is no longer a viable strategy.

Housing, debt ceilings & zombie banks

Aug 17 2011

In a Washington Post report this week, the Obama Administration was said to have decided to adopted a proposal to continue a major government presence in financing mortgages.

Why Nouriel Roubini and all of us are wrong about Karl Marx

Aug 15 2011

Roubini claims Karl Marx was right about capitalism eventually destroying itself. The future, though, is not about class warfare as Marx predicted, but is about maximizing the potential and opportunities for every individual.

My summer reading list: Debt, deflation & democracy

Aug 12 2011

For those of you with the good sense to ignore the financial markets and enjoy the waning days of summer, here are some of the books -- new and old -- sitting on my table.

Uncertainty and indecision threaten Bank America and global markets

Aug 09 2011

The solution to the financial crisis affecting BAC and the US economic malaise are the same, namely an orderly, immediate public process of restructuring for the top banks and housing agencies.

Standard & Poor’s and the ratings game

Aug 08 2011

The decision by Standard & Poor’s to downgrade the U.S. credit rating illustrates a number of areas of weakness in the world of ratings.

Are U.S. regulators worsening E.U. credit squeeze?

Aug 05 2011

During his tenure as Chairman of the Fed from 1951 through 1970, William McChesney Martin Jr. saw the transition from America at war, with the government controlling much of the economy, to a peace time economy where wider financial ebbs and flows were possible. His experience in confronting both inflation and deflation during his term is instructive today.

Basel III in the age of sovereign default

Aug 01 2011

For bankers and regulators seeking to enhance the safety and soundness of financial institutions, the new revelations about the possibility of default in the US and EU raise the possibility that top-quality corporations will be trading at tighter spreads and superior credit ratings than sovereign states.

Why the US debt crisis is a good thing

Jul 27 2011

A few days or weeks of pain will raise the political temperature in Washington even further and bring all Americans into the proverbial kitchen for a long overdue family discussion about money. And that is a very good thing.

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