Who is being bailed out? Who benefits?
The way the proposed bailout is being talked up, you get the impression that the whole world depends on the Bush administration and the Fed...
The death of the free market?
The travails of the financial markets have triggered a degree of jubilation among the usual left-leaning suspects, as though this episode reflects badly on "neoliberalism",...
Round and about 18 Sept
Tyler Cowen challenges the idea that the finance markets have failed due to lack of regulation. Not a lack of government intervention, too much, done...
Crash Bang Wallop
Steven Long It's hard to escape the irony. Two decades ago, the historian Francis Fukuyama proclaimed the end of history with the triumph of American...
Can the independent non-bank financial intermediaries survive in USA?
They look like banks (as they borrow short, are highly leveraged and lend and invest long and in illiquid ways) and thus are highly vulnerable...