London’s Evening Standard have sparked interest on Monday afternoon going to print with news that Manchester United are chasing Barcelona’s Cesc Fabregas. According to Simon Johnson: United are determined to [lure] Fabregas to Old Trafford while they are also attempting to buy back Cristiano Ronaldo from Real Madrid… [Barcelona] would be looking to recoup at least £20m for [...]
Not that good. Here are some new results from Peter Boone, Ila Fazzio, Kameshwari Jandhyala, Chitra Jayanty, Gangadhar Jayanty, Simon Johnson, Vimala Ramachandrin, Filipa Silva, Zhaoguo Zhan: We conducted a survey covering 20% of villages with 200-1000 population in rural Guinea-Bissau. Show More Summary
Last week, Simon Johnson pumped for Gary Gensler, now chairman of the CFTC, to become the Deputy Treasury Secretary. Frankly, it would have been better if Gensler were Treasury secretary (an idea Johnson also promoted), but we are past that point. Show More Summary
By Simon Johnson, April 1, 2013 In both 13 Bankers (2010) and White House Burning (published 2012, paperback just came out) James Kwak and I weighed the merits of going back on a global gold standard. In those books, we … Continue reading ?
Simon Johnson writes today about the scourge of banks that are too big to fail. Cyprus is the latest example of what happens when a megabank fails, and it's fresh on everyone's minds: The good news at the end of last week was that the...Show More Summary
Wed 27 Mar Only 50 lucky people will be able to score (admittedly pricey) tickets to an evening of wine and food from Italian master Antonio Carluccio at Simon Johnson...
In plain English, what Sir John Peace said is called lying. Or, if you prefer the language of securities lawyers, he engaged in deliberate misrepresentation. He also violated Standard Chartered's deferred prosecution agreement with US authorities.
By Simon Johnson On Thursday, March 21, Sir John Peace conceded that he lied to investors on March 5, 2013 when he said of Standard Chartered Bank, “We had no willful act to avoid sanctions; you know, mistakes are made … Continue reading ?
By Tim Price, originally published on Next New Deal
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America's Latest Phony Fiscal Crisis (Bloomberg)
Simon Johnson writes that America really is exceptional. Unsatisified with run-of-the-mill...Show More Summary
Simon Johnson argues in the New York Times that the persistent problem of the “too big to fail” banks, highlighted by today’s hearings on JPMorgan and the “London Whale,” means that hard caps on the absolute size of banks should be adopted. Show More Summary
My afternoon train reading: • Putting the 2012 Rally In Perspective (Marketbeat) • The Importance of Printing Your Own Currency (Economist’s View) • Simon Johnson: Big Banks Have a Big Problem (Economix) Financial groups lobby over ‘too big to fail’ (FT.com) • GIs Fighting Nazis Last Time Factory Workers Toiled Longer (Bloomberg) • The flaw at [...]
The Justice Department's budget documents prominently quote Thomas Jefferson: "The most sacred of the duties of government [is] to do equal and impartial justice to all its citizens." The attorney general just told Congress and the country that this principle no longer applies to very large financial institution.
By Simon Johnson In a recent interview with PBS’s Frontline, Lanny Breuer – head of the criminal division at the Department of Justice – appeared to admit that some financial institutions were too big to prosecute. In the “too big … Continue reading ?
This is worth reading (that's true of almost all of Johnson's posts). It highlights growing recognition of the too big to fail subsidy enjoyed by large banks and evidence of bipartisan efforts to end it. Just to remind folks that may...Show More Summary
LL Cool J is dashing on the red carpet at the 2013 Grammy Awards on Sunday (February 10) at the Staples Center in Los Angeles. The 45-year-old rapper was accompanied by his red hot wife Simone Johnson. PHOTOS: Check out the latest pics of LL Cool J LL will be hosting the Grammys for the [...]
By Simon Johnson An interesting debate is developing within the Republican Party on how to approach the problem of too-big-to-fail financial institutions. On the one hand, a growing number of influential voices are pushing for measures that would limit the … Continue reading ?
By Simon Johnson Congressional Republicans are again threatening not to increase the ceiling on the amount of federal government debt that can be issued. On Wednesday, they agreed to postpone this particular piece of the fiscal confrontation, but only until … Continue reading ?
Simon Johnson: [Timothy] Geithner came to Treasury in the middle of a severe financial crisis, a set of problems that he helped to create and then worked hard to prevent from worsening. As president of the Federal Reserve Bank of New York, starting in 2003, he watched over -- and failed to defuse -- the buildup of systemic risk. Show More Summary
TODAY'S recommended economics writing: • Fed concerned about overheated markets amid record bond buys (Bloomberg) • The legacy of Timothy Geithner (Simon Johnson) • Have we solved "too big to fail"? (Andrew Haldane) • Footnote 74: FACEPALM...Show More Summary
“Massive softening of Basel bank rules” read the headline in the print edition of Monday’s Financial Times. “Betrayed by Basel,” wrote Simon Johnson in a blistering post on his New York Times blog. At issue was a rule called the liquidity coverage ratio promulgated by the Basel Committee on Banking Supervision. Show More Summary