WASHINGTON, DC – The recent governance controversy at JPMorgan Chase has masked a much larger issue. Regardless of Jamie Dimon’s victory in …
NEW YORK – At the conclusion of their summit in Durban in March, the leaders of the BRICS (Brazil, Russia, India, China, and South Africa) a…
HONG KONG – The proliferation of China’s opaque, loosely regulated (or unregulated) shadow-banking system has been raising fears of possible…
WASHINGTON, DC – For three decades, financial globalization had seemed inevitable. New information technologies made it possible to conduct …
BRUSSELS – The root of the problem in Cyprus is well known. Its two major banks had attracted huge deposits from abroad, largely from Russia…
NEW DELHI – Public discourse is rarely nuanced. The public’s attention span is short, and subtleties tend to confuse. Better to take a clear…
BEIJING – In the last 200 years, there have been more than 250 cases of sovereign-debt default, and 68 cases of domestic-debt default. None …
WASHINGTON, DC – Financial reform in the United States and worldwide hangs in the balance. The problems that brought us the terrible crisis …
PARIS – In the early phases of the financial crisis, it was fashionable to argue that the United States’ system of regulation needed a funda…
CHICAGO – Hardly a day goes by without a settlement between a bank and a US government agency or regulator. The latest one is between Bank o…