Mishkin Muffs It
Written by Ben Pierce, CFA Saturday, 21 August 2010 19:56 Last Updated on Saturday, 21 August 2010 20:05
Columbia University professor and shill for the government of Iceland, Fred Mishkin, mumbles his way through an interview in which he admits he should have noted he took $124,000 from Iceland to write a paper talking about how stable their financial system is. Then, on his professional vitae, he renames the paper from the original title including the word "... Stability...." to the word "... Instability...."
Quite a piece of work!
Is Stimulus One helping the economy?
Written by Ben Pierce, CFA Tuesday, 09 February 2010 09:58 Last Updated on Tuesday, 09 February 2010 10:54
"Economic Outlook & the Budget" on C-Span this morning should open some eyes. We're losing our flexibility to borrow large amounts if needed, and now face the possibility of losing our AAA rating (which will lead to higher interest rates on borrowed debt--if we can get anyone to loan us money--and serious national security/ sovereignty issues).
Paul Krugman is an idiot
Written by Ben Pierce, CFA Sunday, 31 January 2010 10:15 Last Updated on Sunday, 31 January 2010 10:20
Regarding whether Treasury secretary Tim Geithner should resign, Paul Krugman on This Week today said, "I don't think that Tim Geithner is the problem." He went on to explain that Obama and Geithner seem content to tinker around the edges when they should be looking at sweeping changes.
Of course it makes sense to completely scrap a system that has worked pretty well for a couple of centuries and turn it into something completely different.
If Krugman thinks Obama is content to tinker around the edges, he is an idiot.
Obama wants to "fundamentally transform America." And, in my opinion, he doesn't want to do it in a good way. His plans sound like a bit more than tinkering.
Finding PowerPoints and Documents
Written by Ben Pierce, CFA Friday, 08 January 2010 13:23
In order to access documents associated with classes that I teach, enter the full path to the document in the address bar of your browser.
For MS Word documents used in FIN4805, for example, the full path is:
http://www.rbpierce.com/FIN4805/Docs/DocName.doc or .docx
For MS PowerPoint documents corresponding to class instruction, the full path is:
http://www.rbpierce.com/FIN4805/Powerpoints/PowerPointName.ppt or .pptx
Your class syllabus will have a complete listing of documents expected to be used in your class. Additional documents may be added to the syllabus over time.
Miller amendment to H.R. 4173
Written by Administrator Wednesday, 09 December 2009 06:32 Last Updated on Wednesday, 09 December 2009 07:02
If good things often come in small packages, so does potentially catastrophic legislation come in the form of little tiny amendments.
In this case, I'm referring to Brad Miller's amendment to H.R. 4173, "The Wall Street Reform and Consumer Protection Act of 2009." Miller's four-line amendment reads: "Sec. 1118 Access to the Discount Window. A financial holding company subject to stricter standards shall have the same access to the discount window lending of an appropriate Federal Reserve bank as is available to a member bank of such Federal Reserve bank."
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