A lot of cool videos from INET’s Bretton Woods conference last week. Kind of like TED talks for econ supergeeks.
- George Soros _ Crisis averted, Now what? The underlying imbalances are still there, but governments have stepped in. How will they ultimately get resolved?
- Larry Summers _ the failure of regulation, as seen by former top policymaker and (de)regulator
- The only reason banks deem 30:1 leverage essential is their managers are paid on ROE, not risk-adjusted ROE _ and when they have a state guarantee, the taxpayers are the ones taking the risk _ Stanford’s Anat Admati (her related paper).
- Wall Street has captured the government_ epic rant from a veteran Asian regulator Andrew Sheng (his slides)