German Chancellor Angela Merkel is going down in flames with ECB president Jean-Claude Trichet. Members of Merkel's own party are in a major dispute with the Chancellor about more Greek bailouts. Finland has had enough too. In spite of the Open Revolt Against Trichet wherein German Politicians Demand "Private Creditor Involvement", Merkel is proving to [...]
Bloomberg reports China’s Net Purchases of Japan’s Long-Term Debt Rises to Record in April China’s net purchases of Japan’s long-term debt reached a record as the larger nation seeks to diversify the world’s biggest currency reserves. China bought a net 1.33 trillion yen ($16.6 billion) in Japanese long-term bonds in April, the biggest amount since [...]
Dallas Fed president Richard Fisher blasted too-big-to-fail banks, CEO compensation, bank risk-taking, inadequacies in Dodd–Frank regulation, and unintended consequences of poor legislation in a speech in New York on Monday. Please consider excerpts from Containing (or Restraining) Systemic Risk: The Need to Not Fail on 'Too Big to Fail' I confess that in matters of [...]