Yves Smith

New Economic Thinking Conference To Shatter Illusion of Control

Steve Clemons | Posted 06.07.2011

Read More: Bretton Woods, International Monetary Fund, George Akerlof, Kenneth Rogoff, George Soros, Paul Volcker, Lawrence Summers, Gordon Brown, Unemployment, Yves Smith, John Maynard Keynes, Joseph Stiglitz, Adair Turner, Economic Policy, Chrystia Freeland, Rob Johnson, Gillian Tett, Kings College, Michael Hirsh, Economic Theory, Reflexivity, Institute for New Economic Thinking, Inet, Politics News
Steve Clemons

As INET Executive Director Rob Johnson said, "last year's conference punctured the mystique of market stability (not to mention real events). This year, the conference will shatter the illusion of control."

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Does That Proposed Foreclosure Deal Help Main Street or Wall Street?

Richard (RJ) Eskow | Posted 05.25.2011

Read More: Foreclosures, Treasury Department, Yves Smith, Carney, Wall Street Crimes, Felix Salmon, Barack Obama, Mortgage Fraud, Foreclosure Fraud, Mortgage Fraud Settlement, Foreclosure Deal, Business News
Richard (RJ) Eskow

We used a five-point grading process to evaluate the administration's reported proposal. Does the punishment fit the crime?

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Fannie's Scandalized, Freddie's Dead -- and the Next Financial Meltdown May Have Already Started

Richard (RJ) Eskow | Posted 05.25.2011

Read More: Robert Rubin, Yves Smith, Financial Crisis Inquiry Commission, Deregulation, Privatization, Daniel Mudd, Fannie Mae, Alan Greenspan, Fannie and Freddie, Freddie Mac, Center for American Progress, Business News
Richard (RJ) Eskow

Here's an idea: Let's give hundreds of billions of dollars in government-backed guarantees to private banks so they make a fortune writing mortgages without any risk to themselves. Hey, what could go wrong?

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Weekly Audit: The Real Legacy of Reaganomics

The Media Consortium | Posted 05.25.2011

Read More: UK, Taxes, American Prospect, Johann Hari, Ronald Reagan, State, Voodoo Economics, Colorado Independent, Vodafone, Smurfs' Village, Public Employee, Colorado, The Nation, Kevin Drum, Capcom, Republican, Reaganomics, Yves Smith, Wealth, Smurfberries, Scapegoat, Finance, Mother Jones, Protests, UK Uncut, Sit Ins, Real News Network, Tea Party, Economy, Paul Starr, Politics News
The Media Consortium

By Lindsay Beyerstein, Media Consortium blogger Sunday marked the 100th anniversary of the birth of B-movie actor-turned-conservative president, Ronal...

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The F Word: Attacks On Government Workers in Tax Deal

Laura Flanders | Posted 05.25.2011

Read More: Taxes, Public Employees, Build America Bonds, F Word, Bankruptcy, States, Budget, Compromise, Grit Tv, Bruce Krasting, The F Word, Laura Flanders, Tax Cut, Grittv, Yves Smith, James Pethokoukis, Unions, Bill Fletcher, Bernie Sanders, Politics News
Laura Flanders

A little-noticed provision in the "tax cut compromise" we discussed today with Bernie Sanders might well drain the states' coffers.

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The Robespierre of the Hedge-Fund Revolution

Richard (RJ) Eskow | Posted 05.25.2011

Read More: Dan Loeb, Yves Smith, Robespierre, Daniel Loeb Letter, Financial Reform, Daniel S. Loeb, Andrew Ross Sorkin, Jamie Dimon, Barack Obama, Business News
Richard (RJ) Eskow

As a deregulation romance novel, hedge-fund manager Daniel Loeb's "investor letter" is a bodice-ripper. It's the latest salvo in an ongoing war against real financial regulations that protect the American people.

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Jason Linkins

I Don't Know About You, But Working At Goldman Sachs Sounds Like A Harrowing, Existential Ordeal

HuffingtonPost.com | Jason Linkins | Posted 05.25.2011

Read More: Goldman Sachs, Business School, Allison Mass, Yves Smith, NYU Stern, Working at Goldman Sachs, Eat the Press, Business News

One of the items on offer in today's "Morning Take Out" on Dealbook is a link to a speech given by Alison Mass, "co-head of financial sponsors" at Gol...

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Yves Smith Doesn't Dislike All Economists, Just Some of Them

Jill Schlesinger | Posted 05.25.2011

Read More: Regulatory Reform, Yves Smith, Financial Regulation, Ecnomists, Business News
Jill Schlesinger

I sat down with Yves Smith, author of the new book Econned for an amazing analysis from one of the financial industry's greatest critics and fans.

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Blankfein Plays Dumb, But Did Tourre Just Sink Wall Street?

Martin Luz | Posted 05.25.2011

Read More: Lloyd Blankfein, Cdos, Fabrice Tourre, Goldman Sachs, Synthetic CDOs, Mccaskill, Wall Street Crisis, Wall Street, Gooldman Hearings, Goldman Sachs Fraud, Cds, Daniel Sparks Goldman Sachs, Daniel Sparks, Yves Smith, Goldman-Sachs-Lawsuit, Business News
Martin Luz

How do you justify selling a security that's designed to fail, designed in fact by the guy who is betting against it?

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IMF Protesters Try to Disrupt Cambridge University Address by Strauss-Kahn

Steve Clemons | Posted 05.25.2011

Read More: Marshall Auerback, Dominique Strauss-Kahn, Robert Kuttner, George Soros, Yves Smith, Joseph Stiglitz, Adair Turner, James Galbraith, Rob Johnson, John Shattuck, Kings College, Imf, Simon Johnson, Lawrence Mishel, Institute for New Economic Thinking, Politics News
Steve Clemons

IMF Executive Director Dominique Strauss-Kahn is "cool under fire", as Central European University President John Shattuck said when introducing him, and didn't break his stride during his presentation at Kings College, University of Cambridge.

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Magnetar How One Hedge Fund Helped Keep the Bubble Going

ProPublica | Jesse Eisinger and Jake Bernstein | Posted 05.25.2011

Read More: Economic Crisis, Hedge Funds, Economy, Cdos, Magnetar Trade, Financial Crisis, Yves Smith, Recession, Housing Bubble, Magnetar, Business News

Several journalists have alluded to the Magnetar Trade in recent years, but until now none has assembled a full narrative. Yves Smith, a prominent fin...

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Yin/Yang at the Federal Reserve

Jason Paez | Posted 05.25.2011

Read More: Geithner, Humphrey-Hawkins-Bill, Yin/Yang, Sherrod Brown, Monetary Policy, Incentives, Taylor Rule, Dueling Mandate, Transparency, Yves Smith, Cfpa, Federal Reserve, Bernanke, Lawrence Summers, Phillips-Curve, Dodd Financial Reform Bill, Accountability, Simon Johnson, Polifinance, Dual Mandate, The Financial Fix, Business News
Jason Paez

Consumers need a strong, independent agency that does not have inherent conflict within its core mission statement.

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The F Word: Credit Where Due, Geithner

Laura Flanders | Posted 05.25.2011

Read More: Wall Street, Banks, Lehman Brothers, Counterpunch, Laura Flanders, Federal Reserve, Fed, Economy, Bernanke, Grittv, Yves Smith, Naked Capitalism, Grit Tv, Van Jones, Geithner, Desiree Rogers, Politics News
Laura Flanders

We talked about the economy today, and whether Treasury Secretary Tim Geithner deserves more credit. What he should be getting credit for, it seems...

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Bloggers See Gloomy Outlook For U.S. Economy, According To New Kauffman Survey

Posted 05.25.2011

Read More: Tim Kane, U.S. Economy, Federal Budget Deficit, Economics Bloggers, Kauffman Foundation, Intervention, Economy, Bloggers, Brad Delong, Regulation, Kauffman Economic Outlook, Yves Smith, Capitalism, Allison Schrager, Slideshow, Financial Crisis, Business News

According to the Kauffman Economic Outlook, a new survey of economics bloggers, web pundits' attitude toward the U.S. economy is markedly sober, with ...

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New York Fed-AIG Emails Sparking New, Bipartisan Criticism Of Geithner

Posted 05.25.2011

Read More: White House, Goldman Sachs, AIG Email Scandal, Yves Smith, Darrell Issa, AIG Bailout, Aig, Henry Blodget, House Oversight and Government Reform Committee, Obama, Timothy Geithner, Eliot Spitzer, New York Federal Reserve Bank, Business News

A batch of internal emails showing that the New York Fed, at the time led by current Treasury Secretary Timothy Geithner, urged AIG to conceal certain...

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The BIGGEST Revelation From 'Too Big To Fail': AIG's Secret Stash Of Bonds: Naked Capitalism

nakedcapitalism.com | Yves Smith | Posted 05.25.2011

Read More: Yves Smith, Too Big to Fail, Hank Greenberg, Andrew Ross Sorkin, AIG Bailout, Aig, Aig Slush Fund, Naked Capitalism, Business News

Perhaps there is an innocent explanation for this huge stash. However, but in all my years in financial services (and having had billionaire clients w...

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