The monetary economics of Adam Smith: >Adam Smith:* An Inquiry Into the Nature and Causes of The Wealth Of Nations*: The Scotch banks, no doubt, paid all of them very dearly for their own imprudence and inattention: but the Bank of England paid very…
Bank may echo US warnings over future rise in ratesThe Bank of England is poised to follow the US by warning high street banks of the new risks they face from future rises in interest rates and the current upheaval in the bond markets.Deputy Bank of England governor Paul Tucker has admitted that UK authorities [...]
Martin’s column – “Volcker’s axe is not enough to cut banks to size” – drew many responses. Here is a selection of them:
Robert Johnson:
How does one set up a shadow banking system safety net/stabilizing mechanism? Shin at Princ…
From the paper:
India’s central bank took steps on Friday to exit the loose monetary policy it adopted during the global financial crisis, as it tried to steady inflation expectations without [...]
Chancellor holds clear-the-air talks with eight UK and foreign-owned banks at World Economic Forum in DavosAlistair Darling told the City’s top bankers today to stop feeling sorry for themselves and instead work with the government to create a stronger financial system.The chancellor held clear-the-air talks with eight UK and foreign-owned banks at the meeting of [...]
Davos: There may be the will to build global institutions to run the world economy, but let’s get real: nation states still ruleFinancial markets. Greenhouse gases. Currencies. Fish. The World Economic Forum in Davos has had sessions on all these pressing issues this week.The problems are easy to identify. Too little regulation of the banks [...]
From the FT:
Volcker has the measure of the banks – John Gapper
Why we should expect low growth amid debt – Carmen Reinhart and Kenneth Rogoff
An early warning system for asset bubbles – Charles Roxburgh and Susan Lund
How to make the difference betwe…
From the FT’s comment section:
John Gapper: Volcker has the measure of the banks
David Pilling: China will not be the world’s deputy sheriffÂ
Carmen Reinhart and Kenneth Rogoff: Why we should expect low growth amid debt
Zalmay Khalilzad: To wi…
Banks should hang on to their cash, rather than handing it out to employees and shareholders: then they might be in better shape to withstand troubled times. So Andrew Haldane, [...]
By not including what Obama calls the Volcker rule in last summer’s financial regulation plan, Obama made extra work for Barney Frank. But Barney is being a doo-bee and is playing nice: >Frank says Obama bank plan could be law within months: The cha…