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Showing 9 of 202 Results in Financial Regulation
TOTM In a recent NY Times column largely devoted to improving soccer in various ways and how those methods might be used to improve financial regulation . . .
In a recent NY Times column largely devoted to improving soccer in various ways and how those methods might be used to improve financial regulation as well, behavioral economist and Nudge author Richard Thaler writes the following about the Consumer Financial Protection Bureau…
Read the full piece here.
Popular Media Now that Dodd-Frank is law people are focusing on the details buried in it. This includes the broad new whistle-blowing provision for 10% to 30% . . .
Now that Dodd-Frank is law people are focusing on the details buried in it. This includes the broad new whistle-blowing provision for 10% to 30% bounties to people who alert the Securities and Exchange Commission to securities law violations that result in million-dollar-plus SEC recoveries.
TOTM In the world of competitive markets, if one does a bad job, the typical result is less resources, less power, and more oversight by interested . . .
In the world of competitive markets, if one does a bad job, the typical result is less resources, less power, and more oversight by interested parties. If a firm makes a bad product, there will be fewer profits, lost market share, and additional attention from Consumer Reports, plaintiffs’ lawyers, and regulators.
TOTM With all the talk about the CFPB, Elizabeth Warren has been in the news lately. The blogs too. Most of the discussion has been about . . .
With all the talk about the CFPB, Elizabeth Warren has been in the news lately. The blogs too. Most of the discussion has been about whether or not Timothy Geithner is a friend or foe to the Democrats’ preferred option of getting Warren nominated as the first chief of the CFPB. Today, Megan McArdle started on what is a less interesting political topic, but a more interesting one for this blog with a long and detailed post on Elizabeth Warren taking on then-Professor Warren’s use of theory and data in the Two Income Trap and her controversial work on medical bankruptcies. McArdle later doubled-up with a be re-posting Todd Zywicki’s WSJ op-ed pointing out the odd manner in which tax data are presented in Two Income Trap. Put directly, Zywicki provides some evidence that the presentation (made in an attempt to show the increasing burdens of mortgage, car and health obligations) presents the data percentage terms in order to obfuscate the fact that changes in tax obligations play a much larger role in the economic burden facing the middle class than convenient for the story told in the book.
Popular Media When we leave our houses, cars, money, children and bodies in others’ hands we might worry whether they will be there when we return or . . .
When we leave our houses, cars, money, children and bodies in others’ hands we might worry whether they will be there when we return or wake up. We can protect ourselves, as did primitive societies, by never leaving, bolting the doors or sticking with a small circle of friends and relatives. But delegating responsibility and control frees us to do what we enjoy or do best. Expert professionals and business people find new ways of keeping us healthy and making us money. Our willingness to buy and use the unfamiliar–to expand our circle of trust–encourages innovation.
TOTM Josh has recently discussed his thoughts about the intellectual trajectory of the newly-minted CFPB and how that intellectual trajectory might influence the selection of the . . .
Josh has recently discussed his thoughts about the intellectual trajectory of the newly-minted CFPB and how that intellectual trajectory might influence the selection of the Bureau’s first director–presumed to be either Michale Barr or Elizabeth Warren. His is a brief, dispassionate and intellectually-honest assessment. But given Simon Johnson’s brief, intemperate and intellectually-devoid assessment of the issue, I’m afraid Josh may be a bit naive.
TOTM I’ve been, for some time, a behavioral law and economics skeptic. Sometimes this position is confused with skepticism about behavioral economics, as in — believing . . .
I’ve been, for some time, a behavioral law and economics skeptic. Sometimes this position is confused with skepticism about behavioral economics, as in — believing that behavioral economics itself offers nothing useful to economic science or is illegitimate in some way. That’s not true. Now, I have some qualms about the explanatory power of some of the behavioral models as well — but the primary critique (in my view) has always been the threat that behavioral economics will be used as the intellectual cover for regulation judged by the preferences of the regulators rather than rigorous economic analysis of any sort.
TOTM Simon Johnson argues that the conventional antitrust tools of Sherman Act are outdated and ill-equipped to deal with the power of big banks… Read the . . .
Simon Johnson argues that the conventional antitrust tools of Sherman Act are outdated and ill-equipped to deal with the power of big banks…
Popular Media As Congress moves toward likely passage of the colossal Dodd-Frank Wall Street Reform and Consumer Protection Act, it’s worth reflecting that many of the bill’s . . .
As Congress moves toward likely passage of the colossal Dodd-Frank Wall Street Reform and Consumer Protection Act, it’s worth reflecting that many of the bill’s 2,315 pages have little to do with preventing another financial meltdown and leaves considerable collateral damage in its wake.
