The long-awaited “clarification” in GSE housing expansion is about due, and coincidentally it will be released at the same time other central agents are getting their work done. So as the global economy falls into at least a changed mood out of complacency and disinterest, suddenly the ECB has its covered bond “purchase” finalized (as if that is any different [...]
Late Friday came news that two employees of JP Morgan would soon be indicted in the London Whale episode that cost the bank $6.2 billion. The two employees are suspected of masking the size of the losses through creative valuation of the derivative positions at the center of the losses. The trader for which the scandal is named, Bruno Iksil, [...]
Thinking Things Over January 22, 2012 Volume II, Number 3: What Caused the Financial Crisis, and Why Does It Matter Now? By John L. Chapman, Ph.D. Canton, Ohio The solons at the National Bureau of Economic Research are the arbiters of defining periods of recession in the United States, and while "unelected", they are nonetheless granted this status via received [...]
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