Ben Bernanke: Has He been a Good Fed Chairman?Given all the testimony and recriminations we have heard recently about the Fed’s role in the financial crisis, and what role it should have in the future, I am about to add my two cents. Before opining on the subject, I should add some background. As many of you already know, and are [...] [ Continue Reading.. ]A BRIC Currency Zone: Feet of ClayIn recent weeks, there has been a lot of talk about the BRIC countries (Brazil, Russia, India and China) creating an alternative foreign exchange mechanism, or at least reducing the importance of the dollar in the international financial system. It reminds me of De Gaulle’s rants of the 1950’s and 60’s, when he accused [...] [ Continue Reading.. ]Kicking the Can Down the RoadRecent market events have forced the country’s largest holders of mortgage debt to slow down or even shut off their foreclosure efforts beginning in the fall of 08 and subsequently ended in the spring of 09. Mortgage delinquencies and foreclosures were at record highs while property values were decreasing faster than individuals 401k’s, something [...] [ Continue Reading.. ]Is German Chancellor Merkel Right When She Rails Against the Fed and Other Central Banks?As you may have read, in an unexpected public statement, German Chancellor Angela Merkel complained about how the Federal Reserve, the Bank of England and the ECB have handled the unprecedented financial crisis we have been suffering since 2007. Her main complaint, and she is not alone, is that the central banks are bowing [...] [ Continue Reading.. ]
|
