Building steam; The Fed's boldness put the market back on track. Now, will the nation's economic engine move ahead?
Byline: Bob Kievra After weathering the worst quarter in more than five years, investors are left to ponder if the emergency surgery and steady dose of medication remedied what was ailing Wall Street. The just-completed quarter, with its jaw-dropping stock swings, investment bank failures and...

Easy debt and the environment.
Jim Cochran ("Carbon on Credit," May/June, p. 14) points us to a corner of the global economy not well understood by most of its participants and a good many of its analysts. Few economists are able to accurately forecast changes in any economy, for one main reason: neoclassical economic...

Echoes of the Great Depression.
THE ECONOMIC POLICIES of the 1930s are a continuing source of myth and confusion. Many people believe that capitalism caused the Great Depression and that Pres. Franklin Roosevelt helped to end it. The events of the 1930s influence economic policymaking today. Many people think that we need a big...

Financial Reform Agenda: Credit Information System Act.
Byline: Senator EDGARDO J. ANGARA (Speech delivered at the Senate Plenary Hall, March 31, 2005.) OVERVIEW of the Financial Sector Banks and capital markets play extraordinary roles in generating the savings needed to finance and sustain investments in the country. As such, their...

ASEAN on the march again.
BALI, Indonesia In 1998 when the ASEAN foreign ministers met in Manila, the faces were mostly dour, almost dejected. The meeting looked like an assemblage of wounded economic tigers. Instead of a victorious roar, one heard the whines of losers. Today, the mood in Bali is quite the opposite,...

Law Offices of Burton L. Raimi: expertise in banking and securities law. (Advertising Feature: Legal Profile).
It takes experience and judgment to navigate the worlds of banking and securities law, and Burton L. Raimi relishes the challenge. "I enjoy the complexity," says Raimi. Raimi has more than 30 years of experience in laws governing the sale of securities and the regulation of financial...

The banking crisis isn't over.
THE IMMEDIATE reaction to the mention of a "banking crisis" these days is likely to be: What crisis? After all, banks are reporting record profits, failures are down, and the Clinton Administration even was able to find budget savings because less would be needed for the bank insurance fund...

What's Wrong with the IMF? What Would Be Better?
The International Monetary Fund (IMF) and the World Bank, created in 1944, reflected the experience of the 1920s and 1930s. The Fund's tasks were to adjust current-account imbalances and manage the exchange-rate system. The Bank's main tasks were to lend for the reconstruction of Europe and to eliminate the...

Preventing banking crises in the future: lessons from past mistakes.
Almost every country -- large or small, developed or developing, free market or planned, free enterprise or socialistic, democratic or authoritarian, western or eastern, northern or southern -- has experienced serious banking (depository institution) problems in recent years.(1) Few countries have escaped unscathed. The cost of resolving these problems...

Regulatory Moral Hazard: The Real Moral Hazard in Federal Deposit Insurance.
Many banking regulators, academics, and others hold that deposit insurance creates an undesirable moral hazard in banking. But the real moral hazard that federal deposit insurance creates is regulatory moral hazard. In this article I describe regulatory moral hazard, explain why depositor discipline of banks is highly undesirable, show...