Here are both of my talks delivered at the April 28 conference on the causes of the 2008 financial crisis. The first talk provided a historical overview for the crisis, not beginning in 2007 or 2006, but actually in the 1930's. The second talk walks through a plethora of things I believe did not cause the crisis (contrary to popular assertion), as well as things that were wrongly prescribed to try and fix the crisis. I essentially attempt to paint a picture of the narrative that the right and … [Read more...]
All the Devils are Here – Indeed
December 22, 2010 By
I was skeptical when I heard that Bethany McLean had a book coming out about the financial crisis. McLean made a name for herself with her cartoonish book and film documentary about Enron, The Smartest Guys in the Room. And while society seems to get a kick out of people becoming rich and famous by "exposing" other people's mis-deeds, I have never found it quite so impressive. The Enron piece was well-done, but was utterly perposterous at points. That piece on her resume, combined with … [Read more...]
The Most Dangerous Book I have ever Read
June 22, 2010 By
I committed to reading and reviewing every single serious book that is written about the 2008 financial crisis over a year ago because I am afraid of history recording lessons from the crisis that are entirely false, and because I am afraid of economists prescribing solutions that are utterly catastrophic. In a sense, my project was presciently motivated by 13 Bankers by Simon Johnson. Dr. Johnson is an MIT economist and was for a time the Chief Economist of the International Monetary Fund. … [Read more...]
