Tag Archive | Great Recession
Yeah, seriously, what would you do to end our Great Recession?
In the first part of this post I mentioned possible solutions to the moral hazard problem with banks. I forgot to mention what I think should be done right now in order to stabilize our financial system. The pressing problem with our financial system is that banks are massively undercapitalized. The relation of debt to […]
September 2008 will go down in history as the start of long period of economic disturbances. As of July 2010, we are still right in the middle of the greatest economic crisis since the 1930s. Some people compare our current situation to the summer of 1931, when a worldwide serious of bank closures turned a […]
Who’da thunk it? If Bernanke and his gang wouldn’t have rescued BofA, Citi, and Wachovia, the total amount of deposits lost would have been far higher than in the Great Depression of the 1930s. Imagine what could have happened, if Bernanke, Paulsen, Geithner and others weren’t there to rescue everybody. We would have lost Bear […]