"We risk becoming the best informed society that has ever died of ignorance"
- Rubén Blades

"You can't make up anything anymore. The world itself is a satire. All you're doing is recording it"
- Art Buchwald

"It's getting exciting now, two and one-half. Think of everything we've accomplished, man. Out these windows, we will view the collapse of financial history. One step closer to economic equilibrium"
- Tyler Durden

"It is your corrupt we claim. It is your evil that will be sought by us. With every breath, we shall hunt them down."
- Boondock Saints

Friday, May 27, 2011

DSK on SNL

SNL skit on DSK.  Just deal with the short 30 second commercial please

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Posted by Paul Revere at 5/27/2011 07:01:00 AM

Wednesday, May 25, 2011

Securitisation: Let’s not throw the baby out with the bathwater

Before the global crisis, securitisation was hailed as a major breakthrough for the safe functioning of financial markets. Now it is suffering from seriously bad public relations. This column presents evidence from 50 Italian banks between 1995 and 2006 and argues that securitisation, by itself, does not deserve such a nasty reputation.


Before the crisis, securitisation was hailed as a major improvement to the functioning of financial markets. By allowing risk to be held more widely and banks’ balance sheets to be more liquid, securitisation had increased the supply of credit and was thought to have improved financial stability (Duffie 2007).

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Posted by Paul Revere at 5/25/2011 06:59:00 PM
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