by Henry Oliner | May 28, 2010 | Business, Economics, Politics
“A dynamic economy will always have booms and busts. But the story of the past twenty-five years is that Washington has created a financial system that cannot withstand the destructive part of creative destruction – necessary for free markets- without...
by Henry Oliner | Apr 7, 2010 | Business, Economics, Politics
“Washington may also be tempted to go on as before for the same reason it did in the wake of its Continental Illinois and Long-Term Capital management bailouts. Back then government regulators and financial executives came to believe: if we can fix this, we can...
by Henry Oliner | Mar 28, 2010 | Economics, Politics
“Creating a systemic risk regulator would be a continuation of that regulatory confusion. Just as bad, a systemic risk regulator would work against Washington’s credibility in ending too-big-to-fail. Investors would be lulled into false confidence that...
by Henry Oliner | Mar 19, 2010 | Business, Economics, Politics
“The first step to restoring the robust financial markets that can support global capitalism is to reassert the market’s ability to discipline itself without endangering the economy. Through its too-big-to-fail policy, expanded over the quarter...
by Henry Oliner | Mar 17, 2010 | Business, Economics, Politics
“In truth, markets had been trying to work since 1984, with Continental Illinois, desperately sending signals that the modern financial system was shot through with untenable risks that required a renewal of long-held regulatory principles. But government...
