Monthly Archives: November 2009

The Roller Coaster of Economic Indicators

The economy has been on a roller coaster ride since the cyclical peak of December 2007. (See illustration.) The gradual slide of early 2008 turned into a terrifying freefall in the last quarter of 2008 (after the Lehman Brothers bankruptcy) and the first quarter of 2009. Now the train is probably at the bottom of […] Continue reading

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The Dodd Bill: CoCo’s? Fine; Hobble the Fed? Don’t Do It.

The National Journal asks views on a recent proposal for financial reform: “The Dodd bill on financial regulatory reform embraces a supposed solution to the ‘Too Big To Fail’ conundrum: Contingent Convertible Bonds, or CoCos, which turn into equity once … Continue reading

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Counting Jobs Saved by Obama’s Fiscal Stimulus

The National Journal asks: “Is the Obama administration’s stimulus plan helping to create or ‘save’ 650,000 jobs, as the president and his aides say? Is that an appropriate way to measure the stimulus’ impact?” My response: I am astounded by … Continue reading

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