A brief update

Welcome Paul Krugman readers. I’m Mike Konczal, and I’m a fellow at the Roosevelt Institute working on financial reform (among other topics). I blog here and at New Deal 2.0; New Deal 2.0 has a lot on financial reform these days and in the days ahead, so I’d recommend checking it out. I’m on twitter here.

Here is my Current State of Financial Reform paper (Update: link fixed), which will hopefully bring you up to date on some of the key issues to watch for as the Dodd Bill and the final financial reform bill is debated in Congress.

Here is The Make Markets Be Markets Report by the Roosevelt Institute, along with video of the presentation of each chapter. This should get you caught up on any specific topic you’d like to learn more about. (I co-wrote a chapter with Raj Date on a 21st Century Glass-Steagall and shadow banking.)

I’m one of several guest-bloggers at Ezra Klein’s blog through Tuesday, and then I’m back here and at New Deal 2.0 working on financial reform. Hope you stayed tuned.

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7 Responses to A brief update

  1. George says:

    Your “Current state of Financial Reform” paper doesn’t come up when I click on it. What to do?

  2. carmichael says:

    People who criticize market forces I think are missing that it is corporations using markets through control that cause economic difficulties. The reason, I speculate is because they tend to be progressives who really like large scale organizational interventions, in large part because their careers are there, and being critical of markets appears to take head on the economic difficulties of our time, but really misses that it is self-serving large corporations that are the real source (not in isolation of course, they need markets to operate in) of economic exploitation nd inequality and the purchase of governments.

    Wealth of nations has thirteen uses of “corporations” and each one is critical of them as instruments of monopoly control.

    Just as Burkean conservatives are lostp in the right wing rhetoric, and so unheard, progressives who are also democratic and inclined to smaller scale go unheard.

  3. Nellie says:

    Thank you for the welcome – found my way here from Krugman. I’m curious about your “Current State of Financial Reform” paper, but the link isn’t working for me. Any chance you could link again? Please and thank you!

  4. Why is it that no one talks about eradicating the root cause of the financial meltdown– subprime loans. How in the world did the government allow subprime lending, especially the kind with no money down, no income, no job , no assets, no docs etc?

    As Paul Krugman pointed out it is against the law in Canada to make home loans with less than 20% down. Even with low interest rates and too big to fail banks , Canada didn’t have much of a problem. The reason was no subprime lending.

    Why can’t we just do that here? I really don’t understand why no one talks about that.

    All the other problems followed from having made crappy loans in the first place. What am I missing here? All the other reforms do not address eliminating this root of the problem. Who is against eliminating subprime lending and why?

    • dilbert dogbert says:

      I think the issue is the banksters can make all kinds of crappy loans – not just in RRE and CRE. There is a lot of thought and arguments about how to put a lid on these other pieces of crap. The other issue is how to put a lid on the political power of the banksters.
      As long as they control or can game the system they will return us to boom and bust forever.

  5. As much as I appreciate the welcome, I think that a gift or special deal on something would have been that much nicer.

  6. Darin says:

    In my opinion, it all comes down to risk.

    The greater the risk, the greater the expected return.
    The greater the expected return, the greater the risk.

    This should be hammered into the minds of the American people. Shadow banks can and do take advantage of the amount of risk they take in. Quants in the big banks use their bell curves to gain more leverage for investing purposes. Yet, they don’t realize the ethical and moral consequences if their deals go bad. I think risk will be a key point to bank regulation in the country.

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