Now raising intellectual capital
Simply raising bank capital requirements is not enough. “Better alternatives are to have more uniformitiy in capital requirements across leveraged financial institutions, to require more ‘contigent capital,’ as well as preservation when regulators see a crisis coming.” — Raghuram Rajan
Citadel Investment Group reaps about $1 billion a year from a unit that does high-frequency trading. – Wall Street Journal.
How the shake-up at JPMorgan Chase demonstrated that Jamie Dimon is no Sandy Weill — John Carney.
“The complacency now setting in over the state of the economy is both foolish and dangerous.” — Paul Krugman.
The Federal Reserve jumps the line in the Lehman Brothers bankruptcy. “It must be nice to be like the Fed and be able to chose when you are public or private to suit your convenience.” — Yves Smith.