the porous city



email me



The chimera of Financial Stability
"I have never understood why Financial Stability should be an objective of public policy. Desirable, measurable outcomes of benefit to the public should be the objectives of public policy. Stability is a silly and impractical goal in a capitalist economy ... One strength of the US banking system from the 1930s to the 1980s was that failures were dealt with quickly and certainly. Foreclosed properties had to be sold by banks within two years of repossession, leading to a quick and certain reallocation of assets from failed borrowers to new owners. The FDIC swiftly and mercilessly shut down failed banks ... with forbearance now institutionalised at all levels of the US economy, we are seeing Japanification instead of recovery. And it is even worse just about everywhere else where dominant banks are much more influential."

Why I Oppose Financial Stability

last timestamped: 12:53:19 08-Dec-2011
in categories:Commerce/Macroeconomics, Other/Politik





No html.

what's the second letter of your name?

Web analytics, MacOS, Storage, Automobile, Data, Net, Business, Collaboration, Open, Medical, Hardware, WRX, Crowdsourcing, Shopping, Android, s60, Development, Energy, Visual, RSS, a11y, Javascript, Product Management, Social, OS, Mobile, Wearables, Audio, PIM, Security, barcamp, Web

Toys, Games, Housing, Bicycling, Video, Quizzes, Sports, Statistics, Boston, San Francisco, Travel, Feminism, Life hacks, Law, Berlin, History, Food & Drink, CrowdFlower, Minnesota, Surfing, Friday, Transportation, NYC, Geography, Clothes, Podcasts, Personal care, Agriculture, L.A., Activism, Politik

Mp3s, Reviews, L.A., Hip-hop, History, Streams, Shopping, Mailing lists, Events, Business, Videos, Musicians, Booking, Labels, Good tracks, Making, Mixes, Boston, House, Lyrics

Me, Working with, Exercise, Friends, Gossip, Enemies, Life hacks, Health, Family, Vocations, Heroes, Languages, Weblogs, MOTAS, Meditation, Subcultures, ADD, Stories

Microfinance, Marketing and CRM, Taxes, IP Law, International Development, Non-profit, Investing, Personal finance, Insurance, Macroeconomics, Shopping, Management consulting, Personal services, Web, Real Estate

Poetry, Visual, Events, Comix, Burning Man, Desktop wallpaper bait, Rhetoric, Literature, Sculpture, Humor, iPad bait, Animation, Spoken Word, Outlets, Movies

Algorithmic, Cool, Process, Architecture, Data visualization, Furniture, User experience, Presentations, Type, Web, Tools, IA

Statistics and Data, Environment, Physics, Zoology, Networks, Psychology

Kenya, Uganda, Kingdom of Siam, Vagabond '08

Photos I Wish I'd Taken, Friends, Moblog



One Acre Fund

Internet classic

Subscribe to this site's rss feed