Monthly Archives: March 2010

Following The Father of Modern Economics

By Andrew Busch | Published: March 3, 2010

By maintaining a quixotic filibuster against a Senate jobless bill, Senator Jim Bunning lit the fire of Democratic and Republican hyperbole against him. From Democratic Senate Majority leader Harry Reid to Republican Senator Olympia Snowe, they all asked him to relent and simultaneously criticized his one-man party of no. The Democrats seized on the filibuster as an example of Republican obstructionism and a strategy of block and delay. Under tremendous pressure from both sides, Bunning relented and the Senate passed a bill extending jobless benefits through April 5th.

This situation underscores exactly how difficult it will be for anyone in … …READ MORE

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Search for Greek Gold!

By Andrew Busch | Published: March 2, 2010

In case you think only European banks have exposure to Greek debt, the US Comptroller of the Currency John Dugan announced that they are closely monitoring US bank exposure to Greek debt. Dugan did go on to say that regulators may enforce a degree of the Volcker Rule even though it may not be legislated. “I do think requiring higher levels of capital in the future will affect the level and kinds of trading activities that institutions engage in. I think that’s appropriate,” Dugan said. Whether it sovereign debt or proprietary trading, it appears the higher capital requirements are the … …READ MORE

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Media Appearance Today

By Andrew Busch | Published: March 2, 2010

Today at 10:30 AM ET, I’ll be appearing on CNBC’s Street Signs discussing the UK elections and competitive currency devaluations.… …READ MORE

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Financial Regulatory Reform: Confusion and Delay

By Andrew Busch | Published: March 1, 2010

This NYT article by Gretchen Morgenson entitled, “It’s Time for Swaps to Lose Their Swagger” provides a glimpse into what’s going on with financial regulatory reform. Note how the article uses the term “swaps” for three different types of swaps: debt, credit default, and interest rate. All are extremely different in their function and to what exposure they cover. Yet, they are all lumped together as the cause of numerous problems within the financial sector.

Given the current trouble Congress is experiencing getting a financial regulatory bill out of the Senate, this underscores some of the confusion about arcane financial … …READ MORE

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