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?
To receive our free email newsletter sign up here.
- Beware Europe-based financial advisers 'passporting' into the UK but operating to much lower standards on charges and disclosure
- Metal madness - why I'm a gold sceptic
- Paragon Bank sweeps the best buy rates
- Bank results season - what do investors need to look out for?
- There are many reasons to avoid investing in China but we only need one
- Brokers are tipping BT shares as the firm reveals solid first quarter profits
- Tesco scraps hated “unexpected item in the bagging area” phrase from its self-service checkouts
- Banks too slow to learn lessons of Libor and Forex scandals says City watchdog
- Is a September lift-off for US interest rates still likely?
- Royal Bank of Scotland enjoys rise in quarterly profits but litigation costs hit first-half numbers