Bernanke’s legacy

Barack Obama recently indicated that he is unlikely to reappoint Ben Bernanke as chairman of the Federal Reserve when his term expires next January. Understandably, the media is focused on who might succeed Bernanke to lead the US central bank. After all, the chairman of the Federal Reserve is often described as the second most … Read moreBernanke’s legacy

Reckless

The UK Parliamentary Commission on Banking Standards has just released its 500+ page report “Changing Banking for the Good.” Among the report’s more intriguing proposals is the creation of a new criminal offense:  “reckless misconduct in the management of a bank.” Certainly, convicting someone who brought down a bank for “reckless misconduct” would be satisfying.  … Read moreReckless