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http://www.bloomberg.com/apps/news?pid=20601087&sid=aeTzfvEedKpQ "Two years after the credit markets began to seize up, costing the world’s biggest financial institutions $1.47 trillion in writedowns and losses, banks are again taking so- called structured finance securities and turning...

There's generally two types of financial sector executives, those that actively seek sketchy ways of making money and those that carefully calculate and weigh and debate options who may or may not get drawn into sketchy things accidentally. From what I read of Gensler, he seems like the latter...

Okay, so the guy worked at Goldman for a while. We've all done things we aren't entirely proud of, but he was from the fixed income and currency division, possibly just some quant guy who didn't fully absord the market-wide impacts of the strategies until he got further entrenched into politics...

Did you even read the article? It clearly states that Cassano had all but a couple million dollars of his vast fortune invested in AIG. Cassano had no incentive to see AIG shareholder value destroyed. He just screwed up and was an idiot.

It's trickle-down economics, man. Just wait for the credit to seap through the economy to the consumer in the form of higher debt-loads. Then they can make their mortgage payments!

Purchase a floating rate bond with the same duration? Enter a floating-for-fixed swap (don't know how to actually go about doing this for non-corporations)? Buy caps (options on interest rates)? Sell interest rate futures?

You mean less separation? All of the commercial banks in Canada have i-banking divisions.

Further proof of my claim that the banking sector needs to be far more stringently regulated (due to agency costs and negative externalities) or simply nationalized. I thought you were dogmatically pro-freedom, libertad?

Exactly. The monetary wealth has dissapeared (which represents control over things). In its place is debt. The thing has switched ownership and the only thing many Americans own now is the expectation of lesser jobs and interest payments.

1) Every day we see news reports that countries are considering moving away from the dollar in trade as well as holding US dollars in reserve. India jumped on that train today. 2) The debt may be "manageable" compared to some Euro countries or historic debt-to-gdp levels, but it is PROJECTED...

You speak of idealism, and yet you dogmatically propose that printing an "unimaginable" amount of money is somehow pragmatic. Let's break down the mechanics of what really transpired, in essence: 1) Decades of artificially low interest rates and allowing banks to sell loans to 3rd parties...

Why does Krugman never even consider the precepitous position of the US dollar, nor the magnamious stature of the US debt and the imminent default and/or monetization thereof?

inference - Definition [ĭnìfar-ans] (n.) The act or process of deriving logical conclusions from premises known…

You're ignoring the possibility that the government had the correct idea in that the opportunity cost of no stimulus was a collapsed financial system. Direct effects like that are sometimes easy to see whereas unemployment 8 months down the line are not. That being said, I would have rather...

http://www.cnbc.com/id/31706523 Nassim Taleb, author of the Black Swan, has similar thoughts as me apparently. ---- Anything that's fragile like the financial system will eventually crash, he said. "We're in the middle of a crash," Taleb said. "So if I'm going to forecast something...

http://www.cnbc.com/id/31705608 "U.S. employers cut 467,000 jobs in June, far more than expected, while the unemployment rate rose to 9.5 percent, the government said on Thursday in a report that showed a labor market continuing to struggle with a deep recession. The June job losses were...

I am talking about inflation over and above the 8% being dormant, I understand the government messes with the CPI.

I've been posting this message for months now on this board, no one really listens. The fact is that arguments of both proponents and detractors of a State bank have merit. A state bank would certainly halt the credit contraction and boost the economy in the short term, freeing consumers...

Doesn't show real inflation... and since it's just a combination of a straight bond and a future contract, there's probably some premium involved that you're paying for. So I doubt it's worth it.

Some Muni's are attached to specific projects or clauses and therefore carry higher risk than simple default risk by the way.