November 11, 2008
Notes From the Bailout
November 10, 2008
What If I Were Dr. Doom?
November 10, 2008
A Mortgage Fact Pack
November 10, 2008
Twilight of the Twilight of the Gods
November 10, 2008
Dean Baker
November 10, 2008
The State of Conservatism
November 10, 2008
Kling on Financial Markets
November 10, 2008
Lectures on Macroeconomics, No. 3
November 9, 2008
Lectures in Macro, No. 2
I only hope that--unlike the econoblogosphere--they pay some passing attention to the Commodities Futures "Modernization" Act that Gramm snuck through in '99 with no debate.
A regulation that made regulation illegal. It specifically banned regulation of CDSes. As in, capital/leveraging limitations, which would have gone far to dampen the secondary mortgage market.
For Gramm, it seems, modernized regulation is no regulation.
For those who cares, my screed here:
The Problem Was Not Deregulating. The Problem Was Not Regulating.
http://trueconservative.typepad.com/trueconservative/2008/10/the-problem-was-not-deregulating-the-problem-was-not-regulating.html
The answer is clear: too many steroids in baseball. Wall Street securities exchangers got a little too exuberant about Bonds breaking the home run record, and well, here we are today.
Seems about as relevant as the other explanations Congress will come up with.
Waxman's my congressman. For what it's worth, I just called his constituency office and recommended they invite you to testify as well.