"We decided to go on an adventure through the financial statements of one bank
[Wells Fargo], to explore exactly what they do and do not show, and to gauge whether it is possible to make informed judgments about the risks the bank may be carrying. We chose a bank that is thought to be a conservative financial institution, and an exemplar of what a large modern bank should be."
The complete guide to America's jobs crisis and the failure of monetary policy using animated gifs
Andrew Lo reviews 21 books on the financial crisis.
In a 41-page paper, Andrew Lo, from the MIT Sloan School of Management, does a comparative review of 21 books about the financial crisis - some from academics and some from journalists and Secretary Paulson, looking for common threads. Tyler Cowen comments
Interview with Gary Gorton
) - Fascinating look at private institutional bank money
creation (really) and subsequent run on the shadow banking system that hearkens back to the late-19th century banking crises
with securitization playing the role of checking before the advent of deposit insurance. "Gorton is a lucid narrator of a complex tale
." (via via
wants you to organize a protest on April 11th
to express your frustration and disapproval with how our elected officials have handled the economic crisis.
Why Wall Street Always Blows It,
and why we're always to blame, as told by banished securities analyst Henry Blodget.
This American Life gives you Another Frightening Show About the Economy.
. The guys who brought us The Giant Pool of Money
) explain the credit crunch and why it's so scary. And not in the Halloween fun-to-be-scared sense.
Upclose and personal on the man, Nouriel Roubini
, who predicted the subprime crisis. Apparently we're in for a long long haul out of this mess. Oh, and it may be the end of America
(reg req'd) as we know it. [more inside]
A graphical, animated explanation of how collateralized debt obligations
(CDOs) work, by Felix Salmon, Maryanne Murray, Jeffrey Cane, Jacky Myint, and Shazna Nessa. The collapse in CDO valuations and the resulting losses to investors played a major role in the recent banking crisis
. Via Paul Krugman.