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Morgan Stanley Speaks: Against Relying On Capital Requirements

Just when momentum was starting to build for increased capital requirements as the core element of an approach that will reign in reckless risk-taking, Morgan Stanley effectively demolishes the idea. In “Banking – Large & Midcap Banks: Bid for Growth ...

From SIMON JOHNSON, The Baseline Scenario,  24 Nov 2009

Related Topics: Morgan Stanley,  John Dunn,  G-20,  White House

Don’t write Manchester United off yet!

Following their defeat to Chelsea, I read a couple of articles writing off Manchester United’s title hopes. This feels absurdly early to me, so ahead of this weekend’s Premiership matches here are 4 reasons why I reckon Manchester United will be ...

From SIMON JOHNSON, Soccerlens,  20 Nov 2009

Related Topics: Manchester United,  Chelsea F.C.,  Arsenal Football Club,  Barclays Premier League,  Liverpool F.C.

Written Testimony Submitted To The Congressional Oversight Panel

Testimony submitted to the Congressional Oversight Panel, hearing on “The overall impact of the Troubled Asset Relief Program (TARP) on the health of the financial system and the general U.S. economy,” Thursday, November 19, 2009. (pdf version) 1) ...

From SIMON JOHNSON, The Baseline Scenario,  19 Nov 2009

Related Topics: Congressional Oversight Panel,  International Monetary Fund,  Citigroup,  United States Department of the Treasury,  Federal Reserve Bank of New York

What Did TARP Do?

In late September 2008, Secretary of the Treasury Henry S. Paulson asked Congress for $700 billion to buy toxic assets from banks, as well as unconditional authority and freedom from judicial review. Many economists and commentators suspected that the ...

From SIMON JOHNSON, The Baseline Scenario,  19 Nov 2009

Related Topics: International Monetary Fund,  U.S. Congress,  George W. Bush,  FDIC,  Barack Obama

Time For Coordinated Capital Account Controls?

The Bretton Woods Committee is organizing a panel (today, Wednesday) on the role of the G-20 in coordinating global growth with speakers from the IMF, US Treasury, and the G-24 group of developing countries.  “Global imbalances” (the US current account ...

From SIMON JOHNSON, The Baseline Scenario,  18 Nov 2009

Related Topics: International Monetary Fund,  G-20,  United States Department of the Treasury

America's Economic "Doom Loop"

“Banking on the State” by Andrew Haldane and Piergiorgio Alessandri is making waves in official circles. Haldane, Executive Director for Financial Stability at the Bank of England, is widely regarded as both a technical expert and as someone who can ...

From SIMON JOHNSON, The New Republic,  17 Nov 2009

Related Topics: Bank of England,  Mervyn Allister King,  Ben Bernanke,  Morgan Stanley,  Merrill Lynch

Banking In A State

“” by Andrew Haldane and Piergiorgio Alessandri is making waves in official circles.  Haldane, Executive Director for Financial Stability at the Bank of England, is widely regarded as both a technical expert and as someone who can communicate his ...

From SIMON JOHNSON, The Baseline Scenario,  17 Nov 2009

Related Topics: Bank of England,  Mervyn Allister King,  Ben Bernanke,  Morgan Stanley,  Merrill Lynch

Who’s Afraid Of A Falling Dollar?

This guest post was submitted by Joe Gagnon, a senior fellow at the Peterson Institute for International Economics.  Joe is an expert on international economics has spent a great deal of time studying the effects of exchange rate depreciation.  Even if ...

From SIMON JOHNSON, The Baseline Scenario,  14 Nov 2009

Related Topics: Federal Reserve,  G-20

Ask Sheila Bair

What happened to the global economy and what we can do about it A producer at the Lehrer NewsHour just sent me this email: I thought your readers might have some excellent suggestions.” Follow the link embedded above to post questions. I want to know ...

From SIMON JOHNSON, The Baseline Scenario,  12 Nov 2009

Related Topics: Sheila Bair

Dollar Doom Loop

The American dollar is in the midst of a large fall in its value, or depreciation, as measured against other major currencies. The decline has been steady since 2002 and our currency is down about 35 percent from that peak. After strengthening slightly ...

From SIMON JOHNSON, The Baseline Scenario,  12 Nov 2009

Related Topics: Bank of England,  Federal Reserve,  Timothy F. Geithner,  Goldman Sachs,  Citigroup

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