According to both the Mayan and Hindu calendars, 2012 (or something very close) marks the transition from an age of darkness, violence and greed to one of enlightenment, justice, and peace.  It’s hard to see that change just yet in the events relayed in… more »

by William K. Black, New Economic Perspectives Jessica Silver-Greenberg and Ben Protess have written an extraordinarily important column for the New York Times about embedded examiners at JPMorgan. Embedded examiners’ are federal regulators whose nor… more »

by Robert E. Prasch This article was published at New Economic Perspectives on November 7, 2011 Since the triumphal passage of the Dodd-Frank Wall Street Regulation and Consumer Protection Act on 21st of July 2010, we have been told repeatedly that t… more »

by guest author Chris McConnell TBTF (too big to fail) banks kept a massive secret from other market players, as well as regulators. In academic circles it’s called an “information advantage.” Joseph Stiglitz won a Nobel Prize for it in 2001. "Market economies are characterized by a high degree of imperfections," Stiglitz said during a press conference held at Columbia. "Older models assumed perfect information, but even small degrees of information imperfections can have large economic consequences. Our models took into account asymmetries of information, which is another way of saying 'Some people know more than others.' " more »

Limit FDIC insurance to banks that agree to manage their own loans and engage in limited trading. This might be all it would take to change "too big to fail" into "too big to exist". more »