Byron Dorgan on the 1999 Financial Modernization Act
In 1999 Congress passed the Financial Modernization Act, which allowed banks, insurance companies and investment houses to merge. Many...
Bailout Plan Open Thread
The Senate is voting on the bailout as this posts — and it likely goes to the House on Friday. Enough ornamentation has been added...
Quote of the Day: Fair Value Accounting
> Wachovia went out with a book value of $75 billion. Citi paid $2 billion. Could it be that asset values are overstated, not...
Auto Sales Tank
The recent data has been nothing short of astonishing. Auto sales, which were weak over the past 11 months, simply went into freefall in...
VIX 20 Year History
Maoxian looks at a 20 year history of VIX spikes through the 50 level. He likes what he sees: > Source:Historical Look at the...
Understanding the Significance of Mark-to-Market Accounting
"Blaming fair-value accounting for the credit crisis is a lot like going to a doctor for a diagnosis and then blaming him for telling...
Princeton: Crisis on Wall Street Panel Discussion
I saw this over the weekend, and thought it was pretty good. Princeton economists review recent events on Wall Street and assess the...