Geral
«This will come to be seen as the greatest regulatory failure in modern history. The degree of leverage that these institutions took on is indefensible. The average large securities firm was leveraged 27 to one in mid-2007. They were not regulated by any prudential supervisor. In effect, they regulated themselves. The lack of transparency was stunning. Many big lenders did not disclose off-balance-sheet risks. In some cases, they did not understand these risks themselves. More fundamentally, we allowed a second, huge financial system to develop outside the normal banking network. It consisted of investment banks, mortgage finance companies and the like. It was unregulated, not transparent and way too leveraged. But with nine separate and mostly ineffective financial regulators, these risks were ignored. That is, until this second system crashed.» (Roger Altman, Financial Times)
- Regular A Globalização
«We need more severe and efficient regulation, higher capital requirements to underpin financial trades, more transparency and a global institution to independently oversee the stability of the international financial system. I have already suggested...
- The Financial Crisis On Trial
By PETER J. WALLISON, WSJ The SEC fingers the government-backed mortgage buyers, not Wall Street greed The Securities and Exchange Commission's lawsuits against six top executives of Fannie Mae and Freddie Mac, announced last week, are a seminal...
- Why We Can't Escape The Eurocrisis
By GERALD P. O'DRISCOLL JR., WSJ When is a bailout not a bailout? When the bailor is short of funds. The recently announced debt plan in the European Union comes up short in almost all respects. The debt crisis is not just an EU problem, but a trans-Atlantic...
- Wall Street's Gullible Occupiers
The protesters have been sold a bill of goods. Reckless government policies, not private greed, brought about the housing bubble and resulting financial crisis. By PETER J. WALLISON, WSJ There is no mystery where the Occupy Wall Street movement came from:...
- How Not To Grow An Economy
Editorial do WSJ Financial markets are in turmoil, investors are fleeing to safe havens, and the chances of another recession are rising. This would seem to be a moment when government should be especially careful to do no harm, to talk and walk softly,...
Geral
Para os que acham que o capitalismo fianceiro se regula a si mesmo
«This will come to be seen as the greatest regulatory failure in modern history. The degree of leverage that these institutions took on is indefensible. The average large securities firm was leveraged 27 to one in mid-2007. They were not regulated by any prudential supervisor. In effect, they regulated themselves. The lack of transparency was stunning. Many big lenders did not disclose off-balance-sheet risks. In some cases, they did not understand these risks themselves. More fundamentally, we allowed a second, huge financial system to develop outside the normal banking network. It consisted of investment banks, mortgage finance companies and the like. It was unregulated, not transparent and way too leveraged. But with nine separate and mostly ineffective financial regulators, these risks were ignored. That is, until this second system crashed.» (Roger Altman, Financial Times)
- Regular A Globalização
«We need more severe and efficient regulation, higher capital requirements to underpin financial trades, more transparency and a global institution to independently oversee the stability of the international financial system. I have already suggested...
- The Financial Crisis On Trial
By PETER J. WALLISON, WSJ The SEC fingers the government-backed mortgage buyers, not Wall Street greed The Securities and Exchange Commission's lawsuits against six top executives of Fannie Mae and Freddie Mac, announced last week, are a seminal...
- Why We Can't Escape The Eurocrisis
By GERALD P. O'DRISCOLL JR., WSJ When is a bailout not a bailout? When the bailor is short of funds. The recently announced debt plan in the European Union comes up short in almost all respects. The debt crisis is not just an EU problem, but a trans-Atlantic...
- Wall Street's Gullible Occupiers
The protesters have been sold a bill of goods. Reckless government policies, not private greed, brought about the housing bubble and resulting financial crisis. By PETER J. WALLISON, WSJ There is no mystery where the Occupy Wall Street movement came from:...
- How Not To Grow An Economy
Editorial do WSJ Financial markets are in turmoil, investors are fleeing to safe havens, and the chances of another recession are rising. This would seem to be a moment when government should be especially careful to do no harm, to talk and walk softly,...