Where Does the Money Go?

The Top Ten Foreign Holders of U.s. Debt in November 2009: Country Amount China, Mainland                                                            $789.6 billion Japan                                                                       …

More Bank Equity Is Needed and Not Socially Costly

Much More Bank Equity Is Needed and Is Not Socially Costly Text of Letter Published in Financial Times November 9, 2010 The Basel III bank-regulation proposals that G20 leaders will discuss fail to eliminate key structural flaws in the current system. Banks’ high leverage, and the resulting fragility and systemic risk, contributed to the near …