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Recent Commentary

December 5, 2008
Give owners 5% mortgage and watch economy thrive

Source: Mark C. Dawkins, Atlanta Journal Constitution

FDIC Chairwoman Sheila Bair deserves credit for proposing a plan to have the government help delinquent homeowners. At least she is trying to solve the mortgage component of the economic crisis and get the economy moving again,...

December 5, 2008
Fed Takes a $3 Trillion Gamble to Spur Lending: John M. Berry

Source: John M. Berry, Bloomberg.com

Federal Reserve officials are throwing everything they have into the fight to stabilize financial markets and restore economic growth. In the process, the Fed balance sheet is ballooning to $3 trillion, if not more.

December 5, 2008
Live Blog: The Automakers Plead

Source: Floyd Norris, New York Times

The chiefs of the Big Three automakers and the United Auto Workers were back on Capitol Hill today for a Senate Banking Committee hearing in which the companies pleaded for federal cash. Floyd Norris, the chief financial...

December 5, 2008
Ken Lewis on Bank Accounting: Sensible Talk from a Surprising Source

Source: Seeking Alpha - NY

Bank of America (BAC) CEO Ken Lewis and I have had our share of disagreements over the years. Still, Lewis’s comments on bank accounting, made at the Charlotte Chamber of Commerce’s Economic Outlook Conference yesterday, couldn’t...

December 5, 2008
CONGRESS WILL NOW WUSSY OUT

Source: Matthew F. Pawa

I am angry. Actually, I am incensed, livid, and enraged. On Friday, Congress will hold hearings on the Detroit bailout. I called my Congressman's office (he happens to be Rep. Barney Frank) to find out what the latest is. Here is...

December 5, 2008
Neel Kashkari, Interim Assistant Secretary for Financial Stability Testimony Before the Senate Appropriations Subcommittee on Financial Services

Source: U.S. Treasury Department

Washington - Chairman Durbin, Members of the Subcommittee, good morning and thank you for the opportunity to appear before you. I would like to provide an update on the Treasury Department's actions to work through the financial...

December 4, 2008
Where Are The Rules Of Accountability?


Source: Robert R. McMillan

The financial fiascos of the last few months could never have taken place if top management and the board members of the subject publicly traded enterprises had been doing their jobs correctly. There are rules of accountability...

December 3, 2008
U.S. report questions value of carbon-offset deals

Source: Guardian.com.UK

Europe's greenhouse gas market has shown that investments by rich countries into clean-energy projects in poor nations are not always the best way to cut emissions blamed for global warming, the investigative arm of the U.S....

December 3, 2008
We Need a Global Carbon Tax

Source: Ralph Nader and Toby Heaps, The Wall Street Journal

If President Barack Obama wants to stop the descent toward dangerous global climate change, and avoid the trade anarchy that current approaches to this problem will invite, he should take Al Gore's proposal for a carbon tax and...

December 3, 2008
Knowledge @ Wharton, University of Pennsylvania

Source: Knowledge @ Wharton, University of Pennsylvania

Although companies around the world are clearly feeling the impact of the economic crisis, Coca-Cola CEO Muhtar Kent insists that he will remain focused on moving the company toward an ambitious goal: Increasing global annual...

December 3, 2008
Keynote Address of CDFI Director Donna Gambrell

Source: US Treasury Department – Community Development Financial Institutions Fund

New Markets Tax Credit Coalition’s 7th Annual Conference. Thank you. It’s an honor to be here this afternoon for the New Markets Tax Credit Coalition’s Seventh Annual Conference. Since the Coalition’s founding in 1998, you have...

December 3, 2008
U.S.-China Economic Relations

Source: Treasury Secretary Henry M. Paulson, Jr.

Washington - Good afternoon. I am pleased to join you and preview the SED, the Strategic Economic Dialogue's fifth meeting, which will begin Thursday in Beijing. I am particularly pleased to appear before the World Affairs...

December 2, 2008
Putting a Value on a C.E.O.

Source: New York Times

Wall Street often portrays itself as a pay-for-performance meritocracy. The rules are supposed to be simple: Make money, and you get rich. Lose it, and you get fired

December 2, 2008
Problem picks

Source: David Weidner, MarketWatch

President-elect Barack Obama, like every candidate seeking to oust a ruling party, campaigned on a platform of change.Then he went and hired half of the former Clinton administration.

 

December 2, 2008
Corporate Boards Are Broken

Source: The Motley Fool

The purpose of a board is to provide oversight, supervision, and guidance for managers whose job it is to run the day-to-day operations of the business. Yet recently, they've seemed to be in league with greedy executives to take...

December 2, 2008
Understanding Attorney Fees So You Can Keep Your Legal Costs Down

Source: HALT

Consumers spend billions of dollars each year on legal fees. While some are satisfied customers who are getting competent legal help at reasonable prices, many others believe legal fees are way too high and would rather leave a...

December 1, 2008
Corporate Social License and Community Consent

Source: Keith Slack - Policy Innovations

"Social license to operate" is an intriguing new phrase that has entered corporate parlance in recent years. Its meaning is not well defined, but corporations usually use it to refer to some kind of approval they must obtain from...

December 1, 2008
Global warming: Too close to home

Source: Seattle-Post Inteligencer

Which is scarier -- the economy or global warming? Climate change gets our vote, in part because it will be with us for decades to come. That's even more our thought in the wake of the findings of scientists studying the Pacific...

December 1, 2008
EDITORIAL: Big Three on energy

Source: Washington Times

The American auto industry's "Big Three"(Chrysler, General Motors and Ford) have asked Congress to help their failing companies with a $25 billion cash injection. The loan - unlike the other $25 billion offered, which they did...

December 1, 2008
The policies that ruined the auto industry

Source: Detroit Free Prress - MI

GM, Ford and Chrysler seem still too bloated and old-fashioned, their workers too pampered. For too long the carmakers have failed to design and bring to market the smaller and more fuel efficient vehicles we now want to buy. Yet...

November 30, 2008
Americans Have Lost Their Appetite for Spending

Source: Floyd Norris, New York Times

AS the holiday shopping season begins, American consumers say they are less interested in consuming than at any other time in the past four decades. That negative outlook, brought on by the credit crisis and recession, has led...

November 30, 2008
Antarctic ice shelf shows new rifts

Source: UPI.com

The Wilkins Ice Shelf is showing new rifts and an ice bridge holding it to two Antarctic islands is closer to collapsing, U.S. and European scientists say. The European Space Agency says the shelf, a floating mass of ice about...

November 29, 2008
Debating global warming: New climate data

Source: Pittsburgh-Tribune Review - PA

Royal Navy logbooks dating to the 17th century might chart a new course from vague assumptions to verifiable reason in the stormy debate over global warming. Mariners' well-kept records detailing air pressure, wind speed and air...

November 29, 2008
The Investors Who Can’t Come in From the Cold

Source: Gretchen Morgenson, New York Times

LIFE is unfair, as the saying goes, but for investors still stuck in auction-rate securities, the inequities keep on coming. Auction-rate securities, you may recall, are preferred shares or debt instruments with rates that reset...

November 29, 2008
Out of the Spotlight, an Industry Copes With Crisis

Source: Joe Nocera, New York Times

When you live and work in New York, it is easy to succumb to the fallacy that the financial crisis is all about us. It’s about giant, New York-based institutions failing or coming close to failing. It’s about high-stakes weekends...

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