Dominic Lawson has a good column on the way the rest of the world sees quantitative easing, and in particular German finance minister Wolfgang Schäuble. Two quotes in particular from Schäuble stand out. Here’s the first:
The NYT is putting a lot of effort into pushing the newly-relaunched Dealbook, or Dealb%k as it seems to have become. The site certainly looks very clean, an open-sided design with the same acreage of white space that can be seen in the NYT’s similarly-relaunched op-ed section.
Are you still confused about quantitative easing, what it is and how it works? I certainly was, and so I asked a genuine expert on the matter — Greg Ip, the author of The Little Book of Economics: How the Economy Works in the Real World — whether he could answer a few questions for me. Greg’s been writing some great blog entries on this subject at the Economist, like the one I linked to this morning, but sometimes you need to take a few steps back to clear up some very basic questions first. Thank you, Greg, for these fantastic answers! If you like them, go buy his book!
Gerald Epstein and Jessica Carrick-Hagenbarth have a 41-page paper out which gets boiled down quite effectively to its title: “Financial Economists, Financial Interests and Dark Corners of the Meltdown: It’s Time to set Ethical Standards for the Economics Profession”.
It’s hard to sell a circular house: over the past year, the palindrome-friendly realtors at Weichert have tried and failed to move 300 Farmington Road at $524,425; $499,994; and most recently $449,944. But it’s still on the market, and the banks are to blame. Mae Ngai and John New wanted the house, had the 20% down-payment ready, and were pre-qualified for a loan. But it wasn’t enough for the lenders:
One of the main contributing factors to the financial crisis was the feeling of impunity and omnipotence which pervaded Wall Street. No matter how egregious their behavior, financiers knew that they would end up wealthy and comfortable. That, in turn, made it much easier to overcome their natural risk aversion.