Category: Policy

Open the books Countrywide

19 October, 2009 (10:19) | Countrywide, Policy, Subprime, US News, transparency | No comments

By: David A. Smith
 
Two years ago, two years after I’d called the market top and just as the subprime mess was beginning to break, in the form of New Century’s bankruptcy and problems alleged at Countrywide, I stuck up for Angelo Mozilo – or more precisely, I questioned the New York Times’s putative expose of [...]

The mad experimenters: Part 2, I must have known it all along

24 September, 2009 (09:27) | Capital markets, Policy, Subprime, TARP, US News | No comments

[Continued from yesterday's Part 1.]
 
By: David A. Smith
 
Yesterday we saw infallible proof of ‘green shoots’ in the economy – officials taking credit for something.  Although the credit-taking may be premature – but hey, it is the political vaporware that keeps on refreshing – that we are still alive to apportion credit means we succeeded in [...]

The mad experimenters: Part 1, being still breathing is winning

23 September, 2009 (10:09) | Capital markets, Policy, Subprime, TARP, US News | No comments

By: David A. Smith
 
Although we are far from recovered, we have the giddy consolation of knowing we’re not dead yet, and that is grounds for celebration, at least to the extent we now have the luxury of debating which of those crazy risks we took and big bets we made were necessary.
 

We’re here to hear [...]

Reviving transportation?

21 August, 2009 (09:40) | Cities, Homeless, Immigration, Innovations, New York City, Policy | No comments

What to do with the homeless?  Can we just wish them away?
 

Just say yes, and an anonymous person vanishes
 
A moral-philosophy question rattling through cyberspace asks, If you were offered $1,000,000 to make someone disappear, would you?
 

Happy to make the stain of homelessness vanish?
 
Actually, as documented in this New York Times article, the cost is much [...]

Cutting turf: Part 2, the sand traps

18 August, 2009 (10:52) | Banks, Capital markets, Policy, Regulation, Subprime, US News | No comments

[Continued from yesterday's Part 1].
 
Yesterday we met beleaguered Treasury Secretary Tim Geithner, the Administration’s point person on comprehensive post-catastrophe fundamental financial and regulatory reform, who having attained a position of power finds himself opposed not by his enemies but rather by his ostensible friends, his frustration boiling over as reported in the Wall Street Journal:
 

“You [...]