What Would J.P. Morgan Say?
Last week it was revealed that derivatives trades gone bad may cost J.P. Morgan Chase bank over $2 billion. The losses apparently are still accumulating at around $150 million per day. A senior manager...
View ArticleJPMorgan Chase and Casino Banking
JPMorgan Chase & Co., one of the nation’s leading banks, revealed in May that a London trader racked up trading losses reportedly amounting to $2.3 billion over a 15-day period. The losses averaged...
View ArticleThe Fed's Dilemma
Chairman Bernanke will be testifying on Thursday, June 7th before the Joint Economic Committee of Congress. His testimony comes against a background of gloomy economic data. The U.S. economy grew at...
View ArticleHow the Euro Will End
The euro is the world’s first currency invented out of whole cloth. It is a currency without a country. The European Union is not a federal state, like the United States, but an agglomeration of...
View ArticleMore Fed Bond Buying Won't Let 'Animal Spirits' out of the Cage
Markets will be hanging on every word in Federal Reserve Chairman Ben Bernanke’s speech Friday morning in Jackson Hole, Wyo. That is because the minutes from the July 31-Aug. 1 meeting of the Federal...
View Article'Has the Fed Been a Failure?'
That is the provocative title of the lead paper in the prestigious economics publication, the Journal of Macroeconomics. It is authored by George Selgin, William D. Lastrapes, and Lawrence H. White....
View ArticleCentral Banks: Reform or Abolish?
Advocates of central bank reform must examine why central banks emerged and what forces sustain them. They did not arise in an institutional vacuum, and will not be reformed in an institutional vacuum....
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