Sound Banking

Tuesday, June 1st, 2010
"In conjunction with Wall Street investment houses, lenders created the increasingly risky loans designed to help Americans realize the dream of homeownership, giving birth to such questionable practices as no or minimal down payments, no income documentation and the deferral of principal and intere
Friday, May 28th, 2010

On Wednesday, I posted a Wall Street Journal article on the EU’s plan to levy taxes on banks that would fund a bank bailout system. The article states, 

Thursday, May 27th, 2010
"As a long-standing critic of the concept of a single European currency, I have not rejoiced at the current problems in the eurozone that threaten the very survival of the euro.
Thursday, May 27th, 2010
The willingness to work for the sake of future prosperity is a universal human quality, but people must believe there is a link between effort and reward.
Thursday, May 27th, 2010
Israel Kirzner presents an excellent piece on entrepreneurship for the students at the Advanced Austrian Economics seminar hosted by the Foundation for Economic Education.
Wednesday, May 26th, 2010
"The European Commission Wednesday proposed that each European Union government levy a tax on its banks and use the proceeds to create a fund dedicated to ensuring the "orderly failure" of troubled banks.
Wednesday, May 26th, 2010
"Over the past several years, the nation has experienced its most severe financial crisis since the Great Depression of the 1930s.
Wednesday, May 26th, 2010
"A top Federal Reserve official said on Tuesday that European debt woes pose a risk to the US economic recovery, but expressed confidence the danger of contagion was small.
Tuesday, May 25th, 2010
"This is the true and remarkable story of private coinage and banking in Britain in the early years of the Industrial Revolution (1775-1850). Making money was a business in demand. The needs of business for small denominations were changing.
Tuesday, May 25th, 2010
"The financial regulatory bill is a “disaster,” and its proposed consumer protection agency would create a Fannie and Freddie “on steroids,” Sen. Judd Gregg, R-N.H. told CNBC on Monday.
Tuesday, May 25th, 2010
Financial repression was used extensively by governments in the post-war period and is still common today in emerging markets such as China.
Monday, May 24th, 2010
"The Federal Reserve System was created in 1913 and soon did what central banks almost always do: it started printing lots of money.
Friday, May 21st, 2010
It’s absolutely mind-boggling to think that Congress can successfully regulate something as complex as the entire financial industry. I don’t believe it for a second.
Friday, May 21st, 2010
The Wall Street Journal has created a good graphic illustration displaying the development of the Fed's balance sheet during the financial crisis.
Thursday, May 20th, 2010
"In a recent column, Nobel Prize winning economist Paul Krugman claimed that the government needs to have two important duties in finance. First, it must keep interest rates low; second, it must strictly regulate where the newly created money goes.
Wednesday, May 19th, 2010
"The growing narrative in Washington is that a decades-long unraveling of the regulatory system allowed and encouraged Wall Street to excess, resulting in the current financial crisis. Left unchallenged, this narrative will likely form the basis of any financial reform measures.
Wednesday, May 19th, 2010
"Early this year, it was our belief (and forecast) that the Federal Reserve would start lifting interest rates from their current level of near zero by mid-year 2010.
Wednesday, May 19th, 2010
"The U.S. Congress should be forced to take the same oath that doctors take to "first do no harm." Because more often than not, under the guise of "fixing" a problem, Washington makes things much, much worse for hard-working middle-class families and small businesses.
Wednesday, May 19th, 2010
"In the commercial, Whitacre says GM has 'repaid our government loan in full.' Rep.

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