portfolio.com - 11/21/2008
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Richard Baldwin of VoxEU gives us a sneak preview of a new article by Jon Danielsson: In this crisis, the strength of a bank's balance sheet is of little consequence. What matters is the explicit or implicit guarantee provided by the state to the banks to back up their assets and provide ...
portfolio.com - 11/21/2008
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portfolio.com —
You might expect it from right-leaning commentators like
Will Wilkinson . You wouldn't expect it from someone...
like Mark Perry , who lives in Flint, Michigan . And you certainly wouldn't expect to see it in the New York Times, from the likes of Andrew ...
(more)
The Return of the $70 Per Hour Meme - Finance Blog - ...
portfolio.com - 11/14/2008
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portfolio.com —
America, we have a problem. Citigroup is the
largest bank in America, with a balance sheet of...
over $2 trillion -- and it's also the most dysfunctional. Since Vikram Pandit took over, Citi has lost not only $20 billion but also more than 70% of its ...
(more)
Citi's Desperate Straits - Finance Blog - Felix Salmon - ...
portfolio.com - 11/22/2008
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portfolio.com —
Tim Geithner has an important article in the
FT today, headlined " We can reduce risk in...
the financial system ". He's entirely right, and his proposals are entirely sensible. Geithner was one of many regulators who warned about the credit bubble while ...
(more)
Geithner's Plan to Revamp Global Financial Regulation - ...
Comments
Blog Reactions
End of the beginning?
Crooked Timber —
... of small banks and credit unions that will survive, but few of the big names will be among them.
Not only major institutions but whole national economies are up for grabs now. The national bankruptcy of Iceland seems likely to followed by something similar for Switzerland. As Citi itself points out, UBS and Credit Suisse are bigger, relative to the Swiss economy, than Kaupthing was for Iceland. Felix Salmon (also predicting doom for Citi, has been all over this).
Given a failure and rescue, Switzerland would probably have to follow ...
The End of Switzerland
Matthew Yglesias —
A few days ago, John Quiggin wrote the following:
Not only major institutions but whole national economies are up for grabs now. The national bankruptcy of Iceland seems likely to followed by something similar for Switzerland. As Citi itself points out, UBS and Credit Suisse are bigger, relative to the Swiss economy, than Kaupthing was for Iceland. Felix Salmon (also predicting doom for Citi, has been all over this).
Given a failure and rescue, Switzerland would probably have to follow Iceland in a rush ...
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ftalphaville.ft.com 11/21/2008 — Switzerland’s famous for chocolate, cheese, knives, neutrality and banking . It’s the latter that could be problematic. From VoxEU : Citi Chart In this crisis, the strength of a bank’s balance sheet is of little consequence. What matters is the ...
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President-elect Barack Obama is inheriting a lot of problems from the Bush Administration including an economic crisis, two wars, and a whole list of international challenges, the most urgent of which is ...
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