Fact and Fiction Behind Too Big to Fail

BREAK ‘EM UP!: Money in Politics Challenges the Real Solution to Systemic Risk

Getting Congress to force separation once again between commercial and investment banking may be politically challenging, even in an era of supposedly courting the middle class. But it is the only way to substantially minimize the need for future taxpayer bailouts of large banks. Employees and PACs of the largest banking, hedge fund, and private…

Larry Summers, President Obama and the Fed Chairmanship

President Obama will make one of the most important decisions of his second administration when he nominates the next Fed Chairman. Election politics are the norm, but does the fate of the nation recede into the background as Larry Summers’ star rises? Is President Obama more comfortable with Treasury officials who helped build the financial…

Derivatives and Systemic Risk: Jobs Reducers

Mitt Romney got one thing right and one thing wrong about systemic risk, regulation and job creation. He was right that small- to mid-sized banks are the lenders to small businesses, the major creators of new jobs. But he was wrong in saying we don’t need to break up the biggest banks. The biggest banks are about trading. Before…

The Fed and the FDIC: Building Goldman Sachs’ Fortress

Jamie Dimon, CEO of JPMorgan Chase, claimed his big bank has a “fortress balance sheet.” JPMorgan Chase’s balance sheet was managed better than others over the past decade. But a mighty fortress isn’t quite what the world’s top regulators would call the biggest banks’ derivatives portfolios — contractual promises of future performance that are booked OFF their…

JPMorgan Chase, Derivatives and Really Crazy Too Big To Fail

Jamie Dimon is still both chairman and CEO of JPMorgan Chase. That was a decision appropriately left to shareholders. Some may have hoped that systemic risk could have been reduced by separating the two roles at the nation’s biggest bank. Why should financial market structure center on the abilities of one man? Mr. Dimon certainly is a very talented…

Fairy Tale Capitalism: Fact and Fiction Behind Too Big to Fail

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Was the mortgage debacle the sole cause of the financial bubble's collapse? Do you believe those who say the elimination of Glass-Steagall barriers didn't contribute to its building? Fairy Tale Capitalism: Fact and Fiction Behind Too Big To Fail places the mortgage mess into a broader perspective. It explains how the Federal deposit guarantee was married to investment banking's trading intensity, why the Fed had no choice but to bail out the biggest banks and how derivatives played a poorly-understood, but equally important role in the crisis. In simple terms Emily Eisenlohr walks with those who live on Main Street down Wall Street's darker alleys.

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