Economic commentary

JP Morgan Chase’s Mysterious $13B Payment

Community bankers could be expected to rejoice at the news of JP Morgan Chase’s agreement to pay $13B in “settlements” to various federal and state agencies. None of this is good news. This strange transaction is another tightening of the toxic embrace between the TBTF banks and the regulatory agencies who sponsor, nurture, regulate and …

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Economic commentary

When Left and Right Agree

When President Obama and Rick Santorum agree about something, it gets my attention. They have both announced tax initiatives favoring manufacturing over other economic sectors. This together with their occasional expressions of skepticism about free trade policies have met with dismissive scorn from the guardians of economic orthodoxy. It is easy to chalk this up …

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