Understanding the Meltdown

(this was published previously in the Macon Telegraph) Being in the middle of a record economic crisis presents a rare learning opportunity.  Several books are worthwhile for those seeking to understand what just happened. Too Big to Fail by Andrew Ross Sorkin details...

Can We Eliminate Bubbles?

Obama has posed this question and seems to think we can.  William Dudley the new president of the New York Federal Reserve thinks they can and should act to identify and prevent asset- price bubbles.  I remain very skeptical. The Federal Reserve was formed in1913 to...