By William K. Black
(Cross posted at Benzinga.com)
The last ditch efforts to save Larry Summers’ prospective nomination to run the Fed and the comments about his withdrawing from consideration have prompted further discussions of financial regulation. The thrust of the comments is that Summers’ big regulatory idea was that capital requirements are the key and other forms of rules are worthless because they are easy to evade.
Bill Black’s appearance on Huff Post discussing Eric Holder and the likelihood of prosecutions of banksters. You can view the video here.
By Glenn Stehle
[Part 1] [Part 2] [Part 3] [Part 4]
The events of the 1590s had suddenly brought home to more thoughtful Castilians the harsh truth about their native land – its poverty in the midst of riches, its power that had shown itself impotent… For this was not only a time of crisis, but a time also of the awareness of crisis – of a bitter realization that things had gone wrong. It was under the influence of the arbitristas that early seventeenth-century Castile surrendered itself to an orgy of national introspection, desperately attempting to discover at what point reality had been exchanged for illusion….
The arbitristas proposed that Government expenditure should be slashed…