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Maverecon.
Willem H. BuiterIndependent Economic Advisor, Cambridge University
- Economics & Finance · October 23, 2007 · 5 min readThe Single Mother of All Liquidity Enhancement ConduitsWhat’s behind the Single Master Liquidity Enhancement Conduit (M-LEC) aka 'Superfund' proposed by Citigroup, JPMorgan Chase and Bank of America, with the active verbal encouragement of the US…
- Economics & Finance · October 22, 2007 · 1 min readLegalise It ! (Yet One More Argument)From the Washington Times, October 19, 2007, p. 15: "KABUL The top U.S.
- Economics & Finance · October 18, 2007 · 3 min read"These Meetings are Carbon Neutral" (Not!!)This blog comes from Washington DC where the great and the good of the world of international finance –ministers of finance, central bankers, national and international financial bureaucrats…
- Economics & Finance · October 17, 2007 · 3 min readSimplify Tax Regime with Common Rate On All (Capital) IncomeOf course the UK Chancellor of the Exchequer is being attacked for abolishing taper relief (a capital gains tax rate of 10 percent on an arbitrary selection of capital gains and on other capital…
- Economics & Finance · October 13, 2007 · 13 min readLong Live Debt!I would like to make a deal with the Right Rev Peter Selby, Bishop of Worcester from 1997 to 2007.
- Economics & Finance · October 7, 2007 · 34 min readEuroisation While Playing By The Rules: A Proposal For The Euro As Joint Legal Tender For EMU CandidatesI know this is too long. However, the case for the Baltic countries to be admitted forthwith to the Eurozone is overwhelming; and the obtuseness of the ECB and the European Commission - not to…
- Economics & Finance · September 26, 2007 · 10 min readSupport Markets, Not BanksAn earlier version of this blog appeared as a comment on Larry Summers' contribution to Martin Wolf's Economists’ Forum, "Beware the moral hazard fundamentalists".
- Economics & Finance · September 25, 2007 · 6 min readTrichet v. Sarkozy: A Senseless And Costly ArgumentCentral bankers should not engage in a public war of words with heads of state, heads of government and ministers of finance or the economy. It is a conflict that has no winners, only losers.
- Economics & Finance · September 22, 2007 · 6 min readWould Narrow Banking Prevent Another Northern Rock?This post appeared first as a Comment on Martin Wolf's Economists Forum on September 21, 2007.
- Economics & Finance · September 21, 2007 · 5 min readBasel II: Back To The Drawing Board?Two crucial inputs into Pillar 1 (Minimum Capital Requirements) of the proposed Basel II Framework for the International Convergence of Capital Measurement and Capital Standards have, if not gone…
- Economics & Finance · September 20, 2007 · 6 min readWhy Didn't The Bank of England Adopt The Discount Window Rule Book Of The Fed Or The ECB?Governor Mervyn King today gave an impressive defense of the Bank of England’s actions in the months preceding the run on Northern Rock.
- Economics & Finance · September 18, 2007 · 8 min readThe Final IndignityThe Chancellor of the Exchequer Mr. Alistair Darling has guaranteed all of the deposits of Northern Rock. If the aim is financial stability, this makes no sense.
- Economics & Finance · September 14, 2007 · 3 min readPaper Covers Rock, But Rock WinsNow we know a bit more about the terms on which Northern Rock can access the financial resources of the Bank of England. In a statement dated September 14, Northern Rock says:
- Economics & Finance · September 14, 2007 · 5 min read(Northern) Rock - Paper (Tiger)On 12 September 2007 (in a Paper submitted to the Treasury Committee by Mervyn King, Governor of the Bank of England) the Bank told the world the following:
- Economics & Finance · September 13, 2007 · 6 min readFeldstein's Jackson Hole Policy Prescription for the FedThere are times when I am quite pleased that Marty Feldstein, whom I admire as a professional economist and consider a friend, is not Chairman of the Federal Reserve Board.
- Economics & Finance · September 2, 2007 · 13 min readA B&B Future for US Subprime Borrowers?The two Bs in the title of this post refer not to bed and breakfast, but to the rather less restful and nutritious contributions made on Friday, August 31 by President Bush in the Rose Garden of…
- Economics & Finance · July 23, 2007 · 6 min readCarbon Offsets: Open House for Waste, Fraud and CorruptionThe UK House of Commons Environmental Audit Committee wants to compel airlines and other “carbon-intensive” businesses to offer customers the means to offset their environmental impact.