“This was classic regulatory arbitrage. Bank managers were not unaware of the risks they courted. Wall Street has simply never kowtowed to… — Danielle DiMartino Booth Copy Share Image
“Banks traditionally profited by capturing the difference between the interest rate at which they made loans and what it cost them to… — Danielle DiMartino Booth Copy Share Image
“Usually an upbeat affair, the BCA conference in 2006 proved disturbing. Harvard professor Niall Ferguson asked a strange question: Why hadn’t the… — Danielle DiMartino Booth Copy Share Image
“As a reminder, among other things, the FOMC sets the fed funds interest rate, the rate at which commercial banks lend reserve… — Danielle DiMartino Booth Copy Share Image
“Rosenblum had joined the Chicago Fed in August 1970, when the Fed was under the disastrous leadership of Burns, who had written… — Danielle DiMartino Booth Copy Share Image
“The Economist wrote that the Fed was “taking the unprecedented (and, some say, disturbing) step of financing up to $30 billion of… — Danielle DiMartino Booth Copy Share Image
“I preferred Warren Buffett’s definition: “It’s like most trends—at the beginning it’s driven by fundamentals; in the end, by speculation. It’s just… — Danielle DiMartino Booth Copy Share Image
“Setting monetary policy is the job of the Federal Open Market Committee (FOMC), composed of the seven members of the Board of… — Danielle DiMartino Booth Copy Share Image
“At Bernanke’s bidding, the Board of Governors held an emergency telephone conference on Friday, March 14, at 5 A.M. and voted to… — Danielle DiMartino Booth Copy Share Image
“The Federal Reserve has always advertised itself as being above politics, impervious to outside influence. This is, of course, nonsense. The chairman… — Danielle DiMartino Booth Copy Share Image
“The big surprise: in his dissertation Greenspan addressed housing bubbles. “There is no perpetual motion machine which generates an ever-rising path for… — Danielle DiMartino Booth Copy Share Image
“Gambling has been fed by knowledge that, if disaster struck, someone else—borrowers, investors, taxpayers—would end up bearing at least some of the losses,” wrote… — Danielle DiMartino Booth Copy Share
“I preferred Warren Buffett’s definition: “It’s like most trends—at the beginning it’s driven by fundamentals; in the end, by speculation. It’s just like the… — Danielle DiMartino Booth Copy Share
“The Federal Reserve has always advertised itself as being above politics, impervious to outside influence. This is, of course, nonsense. The chairman is appointed… — Danielle DiMartino Booth Copy Share
“The transformation of my role at the bank began on February 7, 2007, when HSBC Holdings announced that its bad debts for the previous… — Danielle DiMartino Booth Copy Share
“Called before Congress during the ongoing implosion of Wall Street in October 2008, Greenspan, his upper lip visibly quivering, admitted that he was shocked… — Danielle DiMartino Booth Copy Share
“As a reminder, among other things, the FOMC sets the fed funds interest rate, the rate at which commercial banks lend reserve balances to… — Danielle DiMartino Booth Copy Share
“With interest rates on CDs near zero, the average boomer household would need $10.6 million in principal to safely earn $15,930 in interest, the… — Danielle DiMartino Booth Copy Share
“At Bernanke’s bidding, the Board of Governors held an emergency telephone conference on Friday, March 14, at 5 A.M. and voted to authorize the… — Danielle DiMartino Booth Copy Share
“Usually an upbeat affair, the BCA conference in 2006 proved disturbing. Harvard professor Niall Ferguson asked a strange question: Why hadn’t the recent assassination… — Danielle DiMartino Booth Copy Share
“I worked for one of those who pushed back against the majority. He was the lone member of the FOMC who voted against the… — Danielle DiMartino Booth Copy Share
“The Economist wrote that the Fed was “taking the unprecedented (and, some say, disturbing) step of financing up to $30 billion of Bear’s weakest… — Danielle DiMartino Booth Copy Share
“The big surprise: in his dissertation Greenspan addressed housing bubbles. “There is no perpetual motion machine which generates an ever-rising path for the prices… — Danielle DiMartino Booth Copy Share
“At 6 P.M. Paulson and Bernanke briefed members of the House and Senate leadership. They had little choice, Bernanke explained. AIG was one of… — Danielle DiMartino Booth Copy Share
“In 1996, my first year on Wall Street, the New York Times wrote a story pointing out that IBM, which had employed more than… — Danielle DiMartino Booth Copy Share
“Banks traditionally profited by capturing the difference between the interest rate at which they made loans and what it cost them to borrow. With… — Danielle DiMartino Booth Copy Share
