Bill Moyers Journal: Simon Johnson and Michael Perino on Wall Street’s Role in the Recession
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During the Great Depression, the Pecora Commission relentlessly investigated the causes of America’s financial collapse. Now, in the midst of the current economic crisis, there is a rising clamor for “Pecora II.” In this edition of the Journal, Bill Moyers places the demand for a new commission in context with...Read Full Story
March 30 (Bloomberg) -- Simon Johnson, a professor at the MIT Sloan School of Management, talks with Bloomberg's Matt Miller about his new book "13 Bankers: The Wall Street Takeover and the Next Financial Meltdown." (This is an excerpt of the full interview. Source: Bloomberg)Read Full Story
It would be nice if Obama's business charm offensive led to job creation, but there's not yet any sign that it will, Simon Johnson writes. "We are still waiting for employment to turn back up decisively. Compared with previous recessions, the delay is simply stunning," questioning why companies are keeping profits "artificially high."Read Full Story
Daniel Tarullo, a governor of the Federal Reserve System, spoke for the first time last week about potentially imposing a size cap on the largest U.S. banks. His language, naturally, was that of a central banker.
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According to the Congressional Budget Office, extending all the Bush tax cuts would add $2.3 trillion to the total 2018 debt. The single biggest step our government could take this year to address the structural deficit would be to let the tax cuts expire. Such a credible commitment to long-term fiscal sustainability should reduce interest rates today, helping to stimulate the economy.
According to the Congressional Budget Office, extending all the Bush tax cuts would add $2.3...Read Full Story
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