"The First Global Financial Crisis of the 21st Century "
From Vox EU, a collection of columns on the financial crisis:
This book is available to download for free. Click on the links below to download either the full book or individual sections and the preface, introduction, chronology and glossary.
The First Global Financial Crisis of the 21st Century [full], A VoxEU.org Publication, Edited by Andrew Felton and Carmen Rienhart [individual sections].
Posted by Mark Thoma on Thursday, July 10, 2008 at 12:24 AM in Economics, Financial System | Permalink | TrackBack (0) | Comments (7)
This is a valuable compendium on current gobal financial crisis. The message, I think, is that in a globalized world of IT and internet banking, there is a demand now for CBs to find ways and means to establish collaborative forms of policy coordination in order to stay ahead of the rapidly moving curve in hi fi sector.
The current inflationary pressure and slowdown in growth will test, for example, to what extend Fed/ECB and EM/CBs can develop overlapping policy coordination to manage galloping global inflation in oil and other commodities.
Posted by: hari | Link to comment | Jul 10, 2008 at 01:54 AM
wow William Poole is really going for the jugular today. If I knew that he was singlehandedly trying to sink Fannie Mae in the afterhours I wouldn't have covered all my shorts on financials at the end of trading yesterday! that bastard! I would have made another 20% this morning!
Posted by: ddt | Link to comment | Jul 10, 2008 at 07:53 AM
Sign of the times?
"At this time Lehman Brothers Small Business Finance is not accepting loan applications."
http://www.lehmansbf.com/
Posted by: Mark | Link to comment | Jul 10, 2008 at 10:41 AM
Is anyone accountable in this mess? Or did everyone just fail conventionally?
Oops, looks like Paulson and Helicopter Ben just realized there's no way for a big financial firm to fail anymore. There's no stopping the big swinging dicks now.
Posted by: Fed Accountability | Link to comment | Jul 10, 2008 at 10:57 AM
Brave of them to include the entire series of articles, since some of them from 2007 are clearly of the "nothing to see here" sort.
Posted by: kharris | Link to comment | Jul 10, 2008 at 12:06 PM
I wonder if laws could be designed to structure executive pay in a manner that makes the executives more accountable for risks they take. I think the current lop-sided pay structures contributed importantly to the mess we are now in.
Posted by: don | Link to comment | Jul 10, 2008 at 12:54 PM
Cargill, Grain Traders Face EU Price-Fixing Probe (Update1)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aLGVb76_jopw&refer=home
y Matthew Newman and Choy Leng Yeong
July 10 (Bloomberg) -- Cargill Inc., the largest U.S. agriculture company, Bunge Ltd. and grain traders in two countries were raided by European Union authorities in an antitrust probe into alleged price-fixing.
European and Italian antitrust officials made surprise visits at Cargill offices in Italy, said Francis DeRosa, a spokesman for Cargill in Cobham, England. The European Commission, the EU's antitrust regulator, carried out inspections in two countries, the agency said in a statement....
Posted by: ddt | Link to comment | Jul 10, 2008 at 03:56 PM