Reading List: Too big to jail
- 23 February 2012
Simon Johnson reflects on a recent settlement in which five large banks "settled" their legal liability for carrying out fraudulent foreclosures on mortgages. He concludes that the outcome of the case sends the message that banks are not only "too big to fail, but also too big to jail." Project Syndicate
"Capital flight, soaring borrowing costs, tanking currency and stocks and a central bank forced to pump vast amounts of cash into local banks — that is what Japan may have to contend with if it fails to tackle its snowballing debt" – ouch! Reuters
Talk of bringing manufacturing "back to America" is foolish because the real issue isn't how to get manufacturing back. "It's how to get good jobs and good wages back. They aren't at all the same thing." Robert Reich
Richard Kirsch says republican candidates are split between supporting free market purists and the public's desire for a living wage. New Deal 2.0
After reading Ralph Hawtrey's Trade Depression and the Way Out, David Glasner highlights differences between the interwar and the pre-war gold standards and what would happen if a gold standard were to be restored today. Uneasy Money
Got any other suggestions for what we should be reading? Tell us below?
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- The UK economy combines both house price inflation and goods price disinflationary pressure
- With the strong UK employment market is it time for Forward Guidance mark three?
- Why is Janet Yellen talking the US Dollar down?
- The Bank of England finds that its own Quantitative Easing worked superbly!
- Are the oil majors having to come to terms with the dawning of solar power and what should investors do?
- Challenger banks Shawbrook and Close Brothers launch market leading fixed-rate bonds
- Are you an Expat with investment property in the UK? - You could be liable for UK Capital Gains Tax
- Where to find an inflation beating savings account
- Budget pension revolution: Just 5% of pension investors planning to blow all the money and rely on state pension
- Cost of living eases as inflation drops to 1.6% in March - its lowest level since October 2009