Monthly Archives: March 2009

Systemic importance and blowdown

As we consider the risks of “systemically important” firms (i.e. those “too big to fail”) we should take a lesson from forests. Their growth and structure can tell us a lot about the growth and structure of our economic system, … Continue reading

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“Fundamental failure?”

Has Treasury Secretary Timothy Geithner been reading this blog? It sure sounds like it from this NY Times story: “Our system failed in fundamental ways,” Mr. Geithner told the House Financial Services Committee. “To address this will require comprehensive reform. … Continue reading

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Thanks and apologies to Jake DeSantis

Today’s New York Times included a letter of resignation from one Jake DeSantis from AIG Financial Products, the Very Same Division That Brought The Economy T0 Its Knees.  It is a very brave, beautiful, and important piece of writing, which rightly condemns the mob … Continue reading

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Co-ops fall down

There has been a bit of bad news in the co-op world this week, which has subdued my usual bubbly enthusiasm for all things cooperative. I generally am very upbeat about how co-ops can help solve our economic problems, but … Continue reading

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Some perspective

Charles Krauthammer (with whom I rarely agree) has made a very good point that I was already thinking: $165 million in bonuses to the least popular executives in the galaxy (at AIG, for those who haven’t been paying attention) is a … Continue reading

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Playing with fire

This AIG situation is starting to get out of hand. A Washington Post story this morning describes the firm moving from a state of financial collapse into the beginnings of organizational collapse. Assuming that this reporting is accurate, something very … Continue reading

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Steps in the right direction

By now, most people know that AIG is going to give out $165 million in “bonuses” to the people who not only wrecked the company, but would have wrecked the entire global economy without massive and repeated bailouts (to the … Continue reading

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