Monthly Archives: October 2008

Hi from Sofia,

In the late 1980s my friend Tom Palmer, now Vice President for International Programs and Director of the Center for the Promotion of Human Rights at the Cato Institute, crisscrossed the captive nations of Central and Eastern Europe cultivating contacts … Continue reading

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Mark to Market Accounting – What are the Issues?

            A number of respected people have blamed accounting rules for much of the current financial crisis. “Fair value” or “mark to market” accounting aims to present a more accurate picture of a bank’s condition and should not be abandoned. … Continue reading

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Economics Lesson: The Difference Between Bank Liquidity and Capital

For the past year, and especially for the past few weeks, U.S Treasury and Federal Reserve officials have cautioned that a credit crunch (significant reductions in normal bank lending to companies and household that regularly depend on such credit for … Continue reading

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The Subprime Crisis—Plan C

The just enacted $700 billion Plan B to put a floor on the market prices of mortgage related assets may not be enough to restore credit markets to normalcy, though the Treasury has yet to settle on just what Plan … Continue reading

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