Tag: featured

Capitolwire: Kane disputes Judicial Conduct Board’s claim on Eakin emails.

Attorney General Kathleen Kane issued a statement disputing the suggestion by the state Supreme Court and the Judicial Conduct Board that emails recently referred to both bodies by Kane’s office are new, and were not provided last year when requested of the Office of Attorney General. The statement also seemed to question the veracity of the investigations conducted by both bodies in 2014.

Paul Samuelson review of Ben Bernanke’s “The Courage to Act”

Years ago, banks dominated the system and got their funds mainly from household and business deposits. These were largely immune to panic because most were government-insured. But in recent decades, a “wholesale” market for funds had developed consisting of the spare cash of corporations, pension funds, wealthy individuals and others. These uninsured funds were lent to banks and other financial institutions for short periods, often overnight. By late 2006, wholesale funds totaled $5.6 trillion, exceeding insured deposits of $4.1 trillion. It was the abrupt withdrawal of these funds that drove panic and threatened the financial system with collapse.