Dubai is not systemically signficant. If its troubles open our eyes to the imminence of the likely last leg of the journey from household default through bank default to sovereign default, it may do some systemic good, by alerting fiscal policy makers to the vulnerability of their nations’ fiscal...
Posted to
Comment
on 11-29-2009
Filed under: Economics, Politics, Monetary Policy, Religion, Financial Markets, Ethics, European Union, International Trade, Finance, uk economy
The markets today were in a bit of a tizzy because the Dubai World Group, a holding company owned 100 percent by Dubai’s government, and Nakheel, a wholly owned subsidiary of Dubai World, imposed a debt restructuring and debt service standstill - failed to perform on their debt or, in ordinary...
Posted to
Comment
on 11-27-2009
Filed under: Uncategorised, Economics, Politics, Culture, Monetary Policy, Religion, Financial Markets, Ethics, European Union, Finance, uk economy
What is so important about H.R. 1207: the Federal Reserve Transparency Act of 2009 aka the ‘Audit the Fed’ bill? This bill “To amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General...
Posted to
Comment
on 11-20-2009
Filed under: Economics, Ethics
On September 25, 2009, the Commission of the European Communities produced a proposal for EU-level macro-prudential regulation and supervision, “Proposal for a Regulation of the European Parliament and of the Council on Community macro prudential oversight of the financial system and establishing...
Posted to
Comment
on 10-28-2009
Filed under: Economics, Politics, Culture, Monetary Policy, Financial Markets, Ethics, European Union, Finance