Commentaries

from Rolfe Winkler:

Morning Links 1-7

January 7, 2010

Tim Geithner covered up AIG's payments to counterparties (DealBook) Timmy G. knew it looked bad for AIG to pay out 100¢ on the dollar to counterparties like Goldman. So he told AIG to shut up.

David Blanchflower, the man who knew too much

September 10, 2009

Goodhart’s Law states that if you rely on a single measure to set economic policy, it will mislead you. Charles Goodhart coined it in 1975 when he was senior adviser to the Bank of England it was targetting growth in the money supply. It’s taken longer for the law to apply to the Bank’s targetting of inflation through interest rates set by the Monetary Policy Committee, but it’s arrived now.

from Rolfe Winkler:

Fed: Stop the presses

August 7, 2009

On Thursday, the Bank of England said that it would run its printing press a bit faster while the European Central Bank hinted that theirs might slow down sooner than expected.