Economics, politics, democracy and beyond

From Riski

Contents 1 Global financial issues 2 US economic conditions 3 Monetary policy 4 Fiscal policy 5 Congressional commentary 6 Federal Reserve 7 Banking 8 Wall Street

Global financial issues

• UN says 2012 International Year for Cooperatives Co-operative News, December 18, 2009
• Banking on the State Bank of England, November, 2009
• Reforming OTC Derivative Markets FSA and Her Majesty's Treasury, December 2009
• Balance Sheet Interlinkages and Macro-Financial Risk Analysis in the Euro Area ECB, Dec, 2009
• International banking and financial market developments BIS Quarterly Review, December 2009
• Approaches to Market Surveillance in Emerging Markets Final Report IOSCO, December, 2009
• Chinese Court Sentences Woman to Death for $113 Million Fraud Bloomberg, December 18, 2009
• CPI up for review: ABS The Australian Bureau of Statistics, December 15, 2009
• Dubai’s Nakheel Bondholders Face $5.25 Billion Default Today Bloomberg, December 14, 2009
• Reserve Bank of Australia launches new website December 13, 2009
• Drug money saved banks in global crisis, claims UN advisor The Guardian, December 13, 2009
• Climate Change: Summary of Current Science ZeroHedge, Dec 12, 2009
• Barclays barred from selling offshore derivatives in India Bobsguide, Dec 11, 2009
• Glenn Stevens to the Australian Business Economists Annual Dinner Reserve Bank of Australia, Dec 9 2009
• Mental Midgets and Moral Pygmies Credit Writedowns, December 8, 2009
• Australia Widens Lender Aid After Slamming Big Banks Bloomberg, December 7, 2009
• Top UK banks urged to help small businesses Financial Times, December 7, 2009
• The Cycles of Economic Discontent: Harold James Project Syndicate, December, 2009
• Japan Halts Landmark Postal Sale Wall Street Journal, December 5, 2009
• Main Economic Indicators for the World Economy Reserve Bank of Australia, December 2, 2009
• APRA: The Global Financial Crisis and Beyond John Laker, Chairman, APRA, 26 November 2009
• CESR Half-Yearly Report 2009 Committee of European Securities Regulators, November, 2009
• The Crisis Management Menu, Speech by Paul Tucker Bank of England, November 16, 2009
• Opinion on proposals for European financial supervision House of Commons Treasury Comm, Nov 11, '09
• Reforming the financial system European Commission, 2009
• The Financial Crisis and Information Gaps IMF-FSB, November 7, 2009
• Risk Management Lessons from the Global Banking Crisis of 2008, Senior Supervisors Group, Oct 21, 2009
• IMF, BIS, FSB Guidance to Assess the Systemic Importance of Institutions, Markets and Instruments Oct '09

US economic conditions

• Mercer’s Little Alaska Problem New York Times, December 20, 2009
• Gene B. Sperling before the Senate Democratic Policy Committee December 16, 2009
• Obama's Big Sellout Rolling Stone, December 9, 2009
• SEC Action on IFRS Could Come Early in 2010 Journal of Accountancy, December 9, 2009
• Elizabeth Warren: America Without a Middle Class Huffington Post, December 3, 2009
• Fed survey finds recovery picking up steam AP, December 2, 2009
• SEC Said to Consider CFA’s Schacht to Lead U.S. Auditor Board Bloomberg, December 1, 2009
• T. Rowe's Levenson Sees U.S. Economy Improving in 2010: Video Bloomberg, Nov. 24, 2009
• Problem mortgages hit new high at 14 percent Washington Post, November 20, 2009
• The Big Squander Paul Krugman, New York Times, November 19, 2009
• Detroit stadium or New York studio? The Silverdome sells for $583,000 Daily Finance, Nov 17, 2009
• Bernanke Says `Headwinds' to Restrain Growth in U.S. Bloomberg video (50 min), November 16, 2009
• Scientific Capitalism Daniel Cloud, Project Syndicate, November, 2009
• A Tale of Two American Economies Nouriel Roubini, Project Syndicate, November, 2009
• Pension Benefit Guaranty Corporation Deficit Increases Calculated Risk, November 14, 2009
• U.S. Economy: Consumer Sentiment Falls as Unemployment Mounts Bloomberg, November 13, 2009
• Christina Romer, Chair, CEA, Testimony before the Joint Economic Committee, October 22, 2009
• The growing case for a jobless recovery Fed Reserve of Atlanta Macroblog, October 21, 2009

Monetary policy

• Bernanke Low Rates ‘Poison’ to U.S. Economy, Xie Says Bloomberg, December 8, 2009
• What Would Keynes Say? A Dialogue with Tim Congdon Standpoint, December 01, 2009
• Unconventional monetary policies: an appraisal BIS, November, 2009
• Bills Yielding Zero as Stocks Soar Make Bernanke’s 1938 Moment Bloomberg, November 23, 2009
• China accuses US of fuelling ‘huge carry trade’ Financial Times, November 15, 2009
• Eichengreen says Asian central banks move fast Mostly Economics, November 14, 2009
• Yuan ‘Straitjacket’ Risks Inflating China Bubbles Bloomberg, November 13, 2009
• Between parity and a hard place The Age, November 13, 2009.
• Dollar Doom Loop Baseline Scenario, November 12, 2009
• Monetary and Macroprudential Policy Rules in a Model with House Price Booms IMF, November, 2009

Fiscal policy

• Harder to buy US Treasuries Shanghai Daily, December 18, 2009
• Economic Roundup, Issue 4, 2009 The Australian Treasury
• Muni Bonds Advance as NYC Expands Tax-Exempt Offering by 29% Bloomberg, December 8, 2009
• Kundra and Chopra Want States and Locals to Embrace New Openness Directive Govtech.com, Dec 8, 2009
• Moody’s Says U.K., U.S. Aaa Ratings Relatively Weaker Bloomberg, December 8, 2009
• Estimated TARP Cost Is Cut by $200 Billion Wall Street Journal, December 7, 2009
• Wave of Debt Payments Facing U.S. Government New York Times, November 22, 2009
• The effectiveness of fiscal and monetary stimulus in depressions Vox, November 18, 2009
• ECB warns countries risk losing budget credibility Reuters, November 17, 2009
• Gertrude Tumpel-Gugerell: The road less travelled speech by ECB Governor, November 12, 2009
• Presentation to the Treasury Borrowing Advisory Committee US Treasury, November 3, 2009
• What Fiscal Policy Is Effective at Zero Interest Rates? Federal Reserve Bank of New York, November, 2009
• Bureau of the Public Debt’s Fiscal Years 2009 and 2008 Schedules of Federal Debt GAO, November, 2009
• Monthly statement of the public debt US Treasury, October 31, 2009

Congressional commentary

• Fixing the Global Financial System Wall Street Journal
• CFA Institute Member Poll: US Regulatory Reforms
• Taming the Fat Cats New York Times, December 19, 2009
• Solving Everything but the Problem Wall Street Journal, December 16, 2009
• House Approves U.S. Debt Limit Increase, Jobs Bill Bloomberg, December 16, 2009
• House Passes Rules for Wall Street Over Opposition Bloomberg, December 11, 2009
• Office of Financial Stability (TARP) Fiscal Year 2009 Financial Statements GAO, December 10, 2009
• Frank proposes to use TARP funds to help home owners The Hill, December 7, 2009
• Bair as Banks' Critic Shuns Status Quo as FDIC Term Nears End Bloomberg, December 4, 2009
• A Study in Contrasts in Financial Overhaul New York Times, December 1, 2009
• Ranking Member Shelby's opening statement US Senate, November 19, 2009
• Summary of the Restoring American Financial Stability Act of 2009 Davis Polk Wardwell, November 13, 2009
• A Guide to the Laws, Regulations and Contracts of the Financial Crisis Davis Polk, September, 2009
• Side by Side Analysis of Key IWG Recommendations and Administration Proposals CFA Institute

Federal Reserve

• Credit and Liquidity Programs and the Balance Sheet Federal Reserve
• Fed's approach to regulation left banks exposed to crisis Washington Post, December 21, 2009
• The curse of Montagu Norman New York Times, December 18, 2009
• Ben Bernanke's Final Exam Economist's View, Dec. 17, 2009
• Bernanke Backed for Second Fed Term by Senate Panel Bloomberg, December, 17, 2009
• Bernanke’s Unfinished Mission Paul Krugman, New York Times, December 10, 2009
• High-stakes duel between Rep. Paul and Bernanke intensifies The Hill, December 8, 2009
• Chairman Ben S. Bernanke At the Economic Club of Washington D.C., Washington D.C., December 7, 2009
• Low global rates may cause new bubbles The Australian, December 07, 2009
• Just 21% Favor Bernanke’s Reappointment As Fed Chairman Rasmussen Reports, December 2, 2009
• Senator Moves to Hold Up Bernanke Confirmation New York Times, December 2, 2009
• Bernanke Has Support of Majority of Senators on Banking Panel Bloomberg, December 1, 2009
• Poked by pitchforks The Economist, November 26, 2009
• Fed Officials Said Low Rates May Fuel Speculation Bloomberg, November 24, 2009
• Fed Said to Ask Stress-Tested Banks to Submit Plans on TARP Bloomberg, November 23, 2009
• Revisiting a Fed Waltz With A.I.G. New York Times, November 22, 2009
• Guest Post: Fed-Covert Money Printing Alert ZeroHedge, November 21, 2009
• Panel Votes to Broaden Oversight of the Fed New York Times, November 19, 2009
• Fed Presidents, Lawmakers Step Up Clash on Appointment Process Bloomberg, November 19, 2009
• Discussion of “Do Global Banks Spread Global Imbalances?” IMF conference, Nov 5-6, 2009
• Deserted shopping mall bleak symbol of Fed bailout Reuters, October 21, 2009
• Exemption to Section 23A Limitations Expires Federal Reserve, October 30, 2009
• Paul A. Volcker In Conversation with Gary H. Stern Federal Reserve Bank of Minneapolis, September 2009
• Annual Report, Budget Review, Board of Governors of the Federal Reserve System, August 2009
• What to do with the Fed Maverecon: Willem Buiter, July 17, 2009
• The History of a Powerful Paragraph, Section 13(3) Federal Reserve Bank of Minneapolis, June, 2008

Banking

• Bank Holding Company Act
• FDIC Failed Bank List, Quarterly Banking Profile and Material Loss Reviews FDIC
• Banks Said to Get Time to Implement Capital Rules Bloomberg, December 16, 2009
• FDIC Seeks to Toughen Rules on Banks’ Securitizations Bloomberg, December 15, 2009
• FDIC Boosts 2010 Budget, Staff as Bank Failures Rise Bloomberg, December 15, 2009
• Citigroup’s Exit From Bailout Clouded by Citi Holdings Assets Bloomberg, December 15, 2009
• Banks Must Add $47 Billion in Trade Capital, FSA Says Bloomberg, December 10, 2009
• Obama to call on bank chiefs to boost lending Washington Post, December 10, 2009
• Pre-Budget Report statement Alistair Darling MP, Chancellor of the Exchequer, December 9, 2009
• Britain to Levy a One-Time Tax on Banker Bonuses New York Times, December 9, 2009
• FASB Chairman Defends Fair Value, Calls for Separation From Banking Regulation JofA, Dec 7, 2009
• FDIC Officials Reveal New Concern about Interest Rate Risk FinCriAdvisor, Dec 6, 2009
• Help needed for underwater mortgages AP, December 4, 2009
• FDIC’s Bair May Give Banks Reprieve From Higher Capital Rules Bloomberg, December 3, 2009
• Clayton Endorses ASF’s Loan ID System HousingWire.com, December 2, 2009
• Banks 'came close to meltdown' BBC News, November 25, 2009
• Commercial Banks See Residential Fundings Decline Structured Finance News, November 25, 2009
• Speech by Adair Turner, Chairman, FSA, CBI Annual Conference, 23 November 2009
• S&P raises fears over health of some banks Financial Times, November 23, 2009
• S&P Ratio Highlights Disparate Capital Strength Among The World's Biggest Banks S&P, Nov 23, 2009
• Post-Mortems Reveal Obvious Risk at Banks New York Times, November 18, 2009
• Interest rate risk management for banks Christine Brown, University of Melbourne, December, 2008
• Capital Adequacy Standards Melbourne Centre for Financial Studies, November, 2008

Wall Street

• SIFMA Research Quarterly for Q3 SIFMA, Third quarter 2009
• Municipal Bond Credit Report SIFMA, November, 2009
• Keeping the CEO in Line Acharya, Myers, and Rajan, Fall, 2009
• The credit/Fitch Counterparty Risk Survey 2009 Credit, December, 2009
• Who Should Be Bailed Out? Project Syndicate, December, 2009
• Show Us the E-Mail December 19, 2009
• Finra Probes Wall Street's Trade Huddles Wall Street Journal, December 18, 2009
• LCH Begins Backing Interest Swaps for Bank Clients Bloomberg, December 17, 2009
• SEC Just Now Seeking Key Information On Meltdown NPR - ProPublica , December 16, 2009
• FDIC Seeks to Toughen Rules on Banks’ Securitizations Bloomberg, December 15, 2009
• America is angry, but Wall Street is still living the high life The Guardian, Dec 15, 2009
• ICE Trust Starts Clearing Bank Customer Credit Swaps Bloomberg, December 14, 2009
• Japan Credit Swaps Committee Asked to Rule on Contract Triggers Bloomberg, December 14, 2009
• And I’m back…and the investment world is still nutty ZeroHedge, December 14, 2009
• Goldman Sachs Trading Should Get No U.S. Backstop, Volcker Says Bloomberg, Dec 12, 2009
• National Futures Association throws the rule book at social networkers Finextra, December 10, 2009
• For every action The Epicurean Dealmaker, December 10, 2009
• Regulators Plead Poverty Forbes, December 8, 2009
• Hedge Funds Win Profit on Chicago Sewer Debt at Public Expense Bloomberg, December 8, 2009
• OTC derivatives market activity in the first half of 2009 Bank for International Settlements, November, 2009
• Taming the Stock Option Game Bebchuk and Fried, Project Syndicate, November, 2009
• More SEC Rulemaking on NRSROs Securities Law Prof Blog, November 24, 2009
• SEC Proposes Mandatory Credit Ratings Disclosure Mayer Brown, November 12, 2009