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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- What are the prospects of disinflation and falling prices in the UK?
- Are the UK Pound Sterling and the Euro safe havens in the currency wars?
- The curious case of the Neil Woodford best sellers
- From 'burdened by bills' to 'socialites'. Report finds huge variety of spending habits among older households
- Santander kicks off cash Isa season with mixed bag of offers
- Santander launching new Isa range on Monday including two year fix paying two per cent.
- House prices soar 7.9% in a year. Estate agent says some regions "approaching madness"
- Here today, Gox tomorrow – Bitcoin remains little more than a speculators’ playground
- Edmund's ETF/IT Portfolio Up 2.8% in 3 weeks
- Hargreaves Lansdown publishes performance of Wealth 150 in last ten years