September 25, 2009

Kevin Warsh on the challenge facing the Federal Reserve: “If ‘whatever it takes’ was appropriate to arrest the panic, the refrain might turn out to be equally necessary at a stage during the recovery to ensure the Federal Reserve’s institutional credibility.” — Wall Street Journal

How to get Europe to allow emerging nations to have increased voting power in the IMF? Move its headquarters to London or Paris. — Simon Johnson

Serious reading for the weekend: Credit default swaps and counterparty risk — European Central Bank, hat tip Alea.

Ireland’s experience in buying property loans from banks at prices higher than market values is an important test case. — David Reilly.

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