I write these and then immediately forget all the stuff I wanted to put into them.
Felix Salmon and James Kwak do a bloggingheads together. Lots of talk about wine, in addition to finance and banks.
Ryan Grim talks about The Federal Reserve’s role in funding economists and economics journals.
…The Fed’s hiring of so many economists can be looked at in several ways, [Economist Rob] Johnson says, because the institution does, of course, need talented analysts. “You can look at it from a telescope, either direction. One, you can say well they’re reaching out, they’ve got a big budget and what they’re doing, I’d say, is canvassing as broad a range of talent,” he says. “You might call that the ‘healthy hypothesis.'”
The other hypothesis, he says, “is that they’re essentially using taxpayer money to wrap their arms around everybody that’s a critic and therefore muffle or silence the debate. And I would say that probably both dimensions are operative, in reality.”…
At the Journal of Monetary Economics, every single member of the editorial board is or has been affiliated with the Fed and 14 of the 26 board members are presently on the Fed payroll.