Big Banks (Banku handiak)

… too big to fail?

Albistea: Fed President and Assistant Treasury Secretary Says What Everyone Knows: We Need to Break Up the Big Banks¹.

Minneapolis-eko Fed-eko presidenteak esaten duenez, herrialdeko banku handiak handiegiak dira porrot egiteko, eta horrek ekonomiari arrisku adierazgarria suposatzen dio².

Hona hemen, Kashkari-ren iritziz, “too big to fail” delakoaren aurka agertu diren zenbait ekonomialarik eta finantza adituk esanez postura hori onartezina dela :

• Current chair of the Federal reserve, Janet Yellen (and see this)

• Former chairman of the Federal Reserve, Ben Bernanke

• Former chairman of the Federal Reserve, Alan Greenspan

• Former chairman of the Federal Reserve, Paul Volcker

• Former Secretary of the Treasury Secretary, Hank Paulson

• Former Secretary of Labor, Robert Reich

• Current Vice Chair and director of the Federal Deposit Insurance Corporation – and former 20-year President of the Federal Reserve Bank of Kansas City – Thomas Hoenig (and see this)

• Nobel prize-winning economist, Joseph Stiglitz

• Nobel prize-winning economist, Ed Prescott

• Nobel prize-winning economist, Paul Krugman

• Chief Stability Officer at the Bank of England, Andrew Haldane (and see this and this)

• Former Federal Reserve Bank of New York economist and Salomon Brothers vice chairman, Henry Kaufman

• Dean and professor of finance and economics at Columbia Business School, and chairman of the Council of Economic Advisers under President George W. Bush, R. Glenn Hubbard

• Former chief economist for the International Monetary Fund, Simon Johnson (and see this)

• Former President of the Federal Reserve Bank of Dallas, Richard Fisher (and see this)

• President of the Federal Reserve Bank of St. Louis, James Bullard

• Deputy Treasury Secretary, Neal S. Wolin

• The Congressional panel overseeing the bailout (and see this)

• The former head of the FDIC, Sheila Bair

• The head of the Bank of England, Mervyn King

• The Bank of International Settlements (the “Central Banks’ Central Bank”)

• The International Monetary Fund

• The leading monetary economist and co-author with Milton Friedman of the leading treatise on the Great Depression, Anna Schwartz

• Economics professor and senior regulator during the S & L crisis, William K. Black

• Leading British economist, John Kay

• Economics professor, Nouriel Roubini

• Economist, Marc Faber

• Professor of entrepreneurship and finance at the Chicago Booth School of Business, Luigi Zingales

• Economics professor, Thomas F. Cooley

• Economist Dean Baker

• Economist Arnold Kling

• Chairman of the Commons Treasury, John McFall

• The Director of Research at the Federal Reserve Bank of Dallas, Harvey Rosenblum

• Director, Max Planck Institute for Research on Collective Goods, Bonn, and Professor of Economics, University of Bonn, Martin Hellwig

Halaber, New York-eko Fed-eko buruaren hitzez, ez dugu behar onartu finantza sistema bat non zenbait finantza erakunde hartuta dauden “ too big to fail” moduan.

Halaber, zenbait bankari handik eskatzen dute Big Bank horiek puskatuak izan daitezen:

• Former Citi CEO Sandy Weill

• Former Citi CEO John Reed

• Former Citi chairman Richard Parsons

• Former Merrill Lynch chairman and CEO David Komansky

• Former Morgan Stanley CEO Philip Purcell

• Former managing director of Goldman Sachs – and head of the international analytics group at Bear Stearns in London- Nomi Prins

• Numerous other bankers within the mega-banks (see this, for example)

• Founder and chairman of Signature Bank, Scott Shay

• Former Natwest and Schroders investment banker, Philip Augar

• The President of the Independent Community Bankers of America, Camden Fine

Galdera: Why do so many top bankers, economists, financial experts and politicians say that the big banks should be broken up?

Erantzuna: Because they’re no longer acting like banks, and are destroying the economy.

Gogoratzekoak:

DTM-koek politika egiten dute (tartekoa: gehigarri batzuk)

Bill Mitchell-ek bankugintzaz

Bill Mitchell-ek Greziako banku gordailuen ‘migrazioaz’

Deutsche Bank eta W. Mosler

Islandia: bankugintzaz

Bail-in delakoa

Bankugintza eta diruaren gaineko kontrola

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