Category Archives: Crisis of 2007-2008

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Economists who best understand repo are still working to stabilize it: 2014 in review

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A series of conferences and reports in the second half of 2014 show that the economists who best understand the repo phenomenon are still worried about it and working to stabilize it. This is welcome news, after months of concern … Continue reading

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Runs still threaten the repurchase market: 2014 in review

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As 2014 comes to a close,  it’s tempting to try to assess how much systemic risk has been wrung out of the repurchase market by six years of reforms. A fair summary would be: Much proposed but little imposed. In … Continue reading

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2008 Fed meetings give blow by blow of crisis

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With the Federal Reserve’s release of the transcripts of key Fed meetings in 2008, anyone can read in detail how the financial crisis unfolded in that pivotal year. These transcripts, of the 14 meetings of the Federal Open Market Committee, should … Continue reading

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Why you should worry if the U.S. defaults

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This commentary first appeared in the Santa Rosa (Calif.) Press Democrat. As Congress once again threatens to default on U.S. debt, you are going to hear more predictions of doom. Should you be concerned? Yes. Let me explain this by … Continue reading

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Finally, a U.S. business reporter says it out loud

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“Wall Street’s One-Night Stands; Someone Could Get Hurt in Repo Market” by David Weidner, The Wall Street Journal MoneyBeat, Writing on the Wall, May 29, 2013: “The repo market wasn’t just a part of the meltdown. It was the meltdown.” … Continue reading

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Covering the Repo Market and Shadow Banking

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From the Donald W. Reynolds National Center for Business Journalism at Arizona State University: Mary Fricker, founder of RepoWatch.org, said the repurchase market is a key reason for the ferocity of the financial crisis. She shares her tips and resources … Continue reading

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The future looks a lot like the past

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“Regulation of shadow banking is starting to look more and more like regulation of traditional banking 100 to 150 years ago, when it took decades of runs on banks, bank failures and economic agony before  Congress in 1933 finally approved … Continue reading