Tag Archives: Wall Street

Memo to Republicans

When you sober up from your Scott Brown parties, please listen to the President’s surprisingly clear position on banking and the financial markets. My last blog accused Obama of political cynicism for pretending to get after the Wall Street bankers who heavily supported his election. My prediction was that he would talk tough and maybe […]

My view from Wall Street to Main Street – Part Two

After looking in my last post at what won’t work, here is what must be done. Business leaders must change the way they think about customers, suppliers, shareholders and their public responsibilities to our government (which means you and I as citizens). The root of all these issues is the appalling absence of a fiduciary […]

My view from Wall Street to Main Street – Part One

It is hard to grasp the scale of the economic events we read of daily. There has been much written and spoken already. If you would like me to comment on any particular aspect of this, please post a question. For now I just want to make the most essential comments from a street level […]

Wall Street article on Freddie and Fannie

Green Bay native Paul Gigot, editor of the Wall Street Journal, deserves a Pulitzer Prize for Journalism for his dogged pursuit of the truth with respect to the GSE Twins. For much of the last decade Paul has personally authored article after article detailing the financial risks to the public as well as the broader […]

Fannie and Freddie

The long rumored takeover of Fannie and Freddie (the GSE twins) finally happened this weekend. What this means for the near term and long term remains unclear. Let me tick off a few points. The Regulators judgment is that the consequences of collapse would have been too catastrophic. I am sure they are right. This […]

Introduction to the credit crisis

In these midsummer weeks we are hearing a lot of commentary about the one year anniversary of the credit crisis. In 25 years of Wisconsin banking, I haven’t seen anything like the last 12 months. Many of the major financial institutions in the country have written off more than 50 % of their capital (think […]

Why is there a credit crisis?

It is not accurate to say that the credit crisis is one year old. The credit crisis that we see is the fruit of bad lending, bad investment and bad policy decisions made over many years. Two years ago we were extremely concerned about how easy it was to raise bank capital and how hard […]

The Fed and the credit crisis

For the last 50 years our nation has lived with the idea that our government can borrow as much as it wants and set its own rates through Fed Policy. I think the coming year will reveal a change that has already occurred. I think the Fed has less control over rates and the economy […]

The government and the credit crisis

It has been wisely observed that you can ignore politics, but politics won’t ignore you. Quite frankly I am not very happy with the offerings of either party when it comes to economic policy. Republicans talk a lot about economic freedom, but they seem to be best at crony capitalism. The Democrats siren song of […]

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