Everybody now agrees that Treasury guarantees should be both explicit and explicitly paid for.

History shows us that sovereign governments often default on their loans, particularly in times of war or economic upheaval. Europe finds itself in this situation now and would do well to examine past sovereign debt crises—particularly, the European sovereign debt crisis of the 1920s—for lessons.

No one seems to know where the current turmoil in the financial markets is going. The continued unfolding of losses in subprime mortgages; the huge writeoffs by Citibank, Merrill Lynch, and other major financial players around the world; and the absence of a market for asset-backed securities are either temporary...

The fascinating departure from the usual pabulum from centrists who insist that they are neither right nor left is nothing less than a desperate abandonment of Obama and the Democratic party in order to preserve the credibility of the ideas driving Obama and the Democratic party.

The "Restoring American Financial Stability Act" (The Dodd bill) that will be debated in the Senate attempts to limit the ability of the government or government agencies to protect stakeholders at failed large complex financial institutions from sharing in the losses suffered by the institution.

Many liberals predicted that the financial crisis would increase Americans' confidence in Big Government. That has not happened.

This book suggests and explores three key foundations that explain why emerging markets behave differently than developed markets.

Trial lawyers used the Enron scandal to successfully and legally extort billions of dollars from investment banks with a legally meritless lawsuit.