The Orderly Liquidation Authority prescribed by Dodd-Frank should be repealed and replaced by an amendment to the U.S. Bankruptcy Code which would operate to prevent cross-default provisions from impacting derivatives books so long as mark-to-market ...
Governments need to be authorized to provide 'open bank assistance.' The convolutions of Dodd-Frank aimed at 'avoiding' this tactic are ludicrous and will prove to be extremely costly to the system.
Credit ratings and risk weightings must undergo a thorough process of review and revision. No security or instrument on the planet should have a zero risk weighting.
What you have in legacy countries is long-term insolvency.
The world, in terms of choices available to educated, ambitious workers and entrepreneurs, is way bigger than just the United States, Japan and Europe.
The building block of every community is family.
America is a place where the freedom to be who you are shouldn't be a barrier to your ability to get a job and provide for your family.
So many people, including stark conservatives, have family members and close friends who are gay.
'What am I missing?' is a much more important question than 'How cool am I?'
It's true that monetary policy was too lax for too long, and the government encouraged lending to people who were unlikely to repay their loans.
In government, the forces of risk-aversion and constant conflict serve to stultify and narrow the range of ideas up for debate.
It is a very bad idea for governments to create arbitrary and unfair outcomes, or outcomes resulting from the passions and whims of the government rather than from the law, just because they have the power to do so.
While many of Mr. Obama's ideas warrant skepticism, conservative opposition to any expanded role for government is a mistake.
It is impossible to understand the financial health of big financial institutions and their potential impact on the market. They don't even understand it themselves.
There is no more reason to believe that Bitcoin will stand the test of time than that governments will protect the value of government-created money, although Bitcoin is newer, and we always look at babies with hope.
My concern as a citizen and as a money manager is, Oh my God, at what point does a 'whoa' moment happen to these people who own $30 trillion fixed income instruments?
A great deal of stupidity has chipped away at the massive advantages of Western civilization, which could terminally decline if it remains on the current path. But these problems can be solved - and swiftly - if the right leaders emerge.
The Congo is very wealthy from oil money but is not paying its debts and at the same time is applying for special status at the World Bank. That's shocking and disingenuous.
Given the typical fee structures of hedge funds, they need to do something different to make money in a consistent way.
'Inequality' has become the political theme/slogan of our time in both Europe and the U.S., yet political leaders do not even bother to consider that their own policies, which put the entire burden on central bankers to print money and drive up stock...
Resentment is not morally superior to earning money.
