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The Causes of the Banking Crises of the 1920’s

January 4, 2012 • GLOBAL ECONOMY, FINANCE & BANKING, Americas, Europe, Global Capital Markets, Governance & RegulationComments (0)

By Simon D. Norton The credit crunch of 2007-2008 shares many similarities in terms of causes with the Depression Era and wave of bank failures which took place in the United States in the 1920’s. It would appear that legislative responses made by the government of President F.D. Roosevelt are finding resonance with today’s legis-lators, …

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The United States of America or the Soviet Socialist States of America?

December 28, 2010 • CRITICAL ANALYSIS, Capitalism in the 21st Century, World Politics, AmericasComments (0)

By Richard Morrish “Owners of capital will stimulate the working class to buy more and more expensive goods, houses and technology, pushing them to take more and more expensive credits, until debt becomes unbearable. The unpaid debt will lead to the

Too systemic to fail: Consequences, causes, and potential remedies1

December 28, 2010 • GLOBAL ECONOMY, FINANCE & BANKING, EMERGING TRENDS, Capitalism in the 21st Century, Americas, Banking Innovation, Europe, Global Capital MarketsComments (0)

By Raghuram Rajan Perhaps the single biggest distortion to the free enterprise system is when a number of private institutions are deemed by political and regulatory authorities as too systemic to fail. Resources are trapped in corporate structures that have