by Zach Carter | Dec 3, 2010 | Blog
The data from the Federal Reserve audit is full of frightening revelations about U.S. economic policy and those who implement it. When Wall Street went off the rails in the fall of 2008, policymakers told the public we had a certain kind of problem, knowing all along...
by Zach Carter | Dec 1, 2010 | Blog
Just starting to parse through the Fed audit data. Looks like the Primary Dealer Credit Facility is predominantly a bailout for Citigroup and Bank of America. More to come . . . UPDATE: Looks like in the early days the Primary Dealer Credit Facility was almost...
by Zach Carter | Dec 1, 2010 | Blog
I frequently disagree with Megan McArdle, but her WikiLeaks post yesterday on struck me as simply delusional. The basic argument: megabank financiers haven’t committed any crimes, because if they had, we’d already know about it. There’s a kind of...
by Zach Carter | Nov 30, 2010 | Blog
A rather nauseating statement from a Government Accountability Office report on foreclosures: Because they generally focus on the areas with greatest risk to the institutions they supervise, federal banking regulators had not generally examined servicers’ foreclosure...
by Zach Carter | Nov 30, 2010 | Blog
Yesterday, The New York Times ran an editorial opposing a new Federal Reserve proposal to eliminate predatory lending penalties. The rule under consideration is the same obscure regulation I blogged about a couple of weeks back, and it's very encouraging to see major...