Daily Archives: July 16, 2009

Just in case anyone was wondering how JP Morgan made all those recently announced profits that so excited Wall Street. No comment on their derivative exposures. Note CDS are reduced to somewhat manageable levels thanks to TARP. One wonders what … Continue reading →

More than 250 prominent economists warned that critics of the Federal Reserve are putting “the independence of U.S. monetary policy…at risk,” and they urged Congress to back off lest it undermine the Fed’s ability to manage the economy and thwart … Continue reading →