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But Are They Buying It?
As Simon wrote this morning, the administration strategy is to wait and see if the economy turns around, lifting banks out of the mess they created. How can you tell if this is working? One way is to...
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The New Masters of the Universe
Back in the early days of the Clinton administration, James Carville was credited with saying something like this: I used to think that if there was reincarnation, I wanted to come back as the...
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Making Creditors Suffer
Tyler Cowen, co-author of a prominent independent economics blog, has an article in The New York Times explaining “Why Creditors Should Suffer, Too.” What the banking system needs is creditors who...
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“Telling a lie does not make you guilty of a federal crime”
By James Kwak That’s what Jesse Litvak’s lawyer said at the start of his trial earlier today. And technically speaking, it’s true. If you’re trying to sell a bond to a client, and during the course of...
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