For decades, William Isaac’s insights on the U.S. financial system have been featured in leading news publications. Now, you can browse them all in one location.

MEDIA COVERAGE

in leading business publications

THE GLOBAL QE EXIT CRISIS By Stephen S. Roach

THE GLOBAL QE EXIT CRISIS By Stephen S. Roach

August 28, 2013

Stephen Roach — senior fellow at Yale University’s Jackson Institute for Global Affairs, former economist at Morgan Stanley, and former official at the Federal Reserve Board — wrote an important and provocative article about monetary policy mistakes that could well be leading to yet another global crisis. I urge you to read the article which can be accessed through the following link:

Here is the link to the full article

THE AMERICAN INCOME CRISIS: THE FED COULD STOP IT

THE AMERICAN INCOME CRISIS: THE FED COULD STOP IT

August 20, 2013

David Malpass has authored a thoughtful article for Forbes on the continuing decline of middle class incomes from 1999 through 2013, a decline that has been accelerating during the past five years. Malpass attributes much of the accelerated decline to current Fed policies, which he believes disproportionately benefit large companies and wealthy individuals. The article is well worth your time and can be found at:

Here is the link to the full article

Former FDIC Chief Isaac: Fed Should Stop QE Now on NewsMax, article includes video of the interview, July 10, 2013

Former FDIC Chief Isaac: Fed Should Stop QE Now on NewsMax, article includes video of the interview, July 10, 2013

July 12, 2013

Bill Isaac, former chairman of the FDIC, thinks it’s high time for the Federal Reserve to begin cutting back on its stimulus policy called “quantitative easing,” or QE.

“I am hoping they will begin . . . this year,” Isaac told Newsmax TV in an exclusive interview. “I’ve never liked QE. It’s been very harmful to the economy and normalizing things.”

Here is the link to the full article

CHAIRMAN OF HOUSE FINANCIAL SERVICES COMMITTEE OPENS HEARINGS ON HOUSING REFORMS

CHAIRMAN OF HOUSE FINANCIAL SERVICES COMMITTEE OPENS HEARINGS ON HOUSING REFORMS

June 14, 2013

Rep. Jeb Hensarling (R-Texas), Chairman of the House Financial Services Committee, has opened hearings on much needed reforms to U.S. housing policies, including possible significant reforms to Fannie Mae and Freddie Mac. Chairman Hensarling’s opening statement presents a concise and clear statement of the issues, and I encourage you to take a couple of minutes to read it. Chairman Hensarling is a bright and thoughtful leader determined to do everything in his power to get the right policies and structures in place. He deserves our support in these efforts.

WASHINGTON – House Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee hearing titled ““Beyond GSEs: Examples of Successful Housing Finance Models without Explicit Government Guarantees.”

“This is the 10th full or sub-committee hearing that we have had on the topic dedicated to forging a new sustainable housing policy for America.

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CENTRAL BANKING AT A CROSSROAD By Paul A. Volcker

CENTRAL BANKING AT A CROSSROAD By Paul A. Volcker

June 4, 2013

[I had the great pleasure of serving as Chairman of the FDIC during much of the period Paul Volcker was Chairman of the Federal Reserve. Inflation was out of control during the 1970s and economic growth was stagnant – “stagflation” was the term coined to describe it. Paul Volcker had the courage to take the extremely difficult and painful measures required to wring inflation out of the economy and set the stage for the longest peacetime economic expansion in U.S. history. Paul is one of the most dedicated public servants I have known, and he has continued to tirelessly advocate for sound economic and government policies throughout the world since leaving the Fed.

The Economic Club of New York honored Paul Volcker with an Award for Leadership Excellence on May 29, 2013. Paul delivered a powerful speech on that occasion and has given me permission to include it on my website. If you read nothing else this week, I encourage you to read this speech. The speech is focused on monetary policy but it is done in pretty plain English so you will get a lot from it.]

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Time to Breakup the FED? By Alex Pollock

Time to Breakup the FED? By Alex Pollock

May 18, 2013

[Alex Pollock, Senior Fellow of the American Enterprise Institute and one of the sharpest thinkers I know, wrote a wonderful blog in the American Banker about on the Federal Reserve on May 17, 2013 that I commend to you. It’s short, sweet, and to the point. You can find it through the link below.]

Jim Bullard, the president of the Federal Reserve Bank of St. Louis has laid out an interesting argument, as reported by American Banker (“A Simple TBTF Plan from Fed’s Jim Bullard,” May 9), to determine when a bank is too big and needs to be broken up. In summary, the well-informed argument goes like this:

If a bank is…

Here is the link to the full article

Are Central Banks Undermining Capitalism? By Robert Pringle

Are Central Banks Undermining Capitalism? By Robert Pringle

May 17, 2013

[Robert Pringle, Chairman and Founder of Central Banking Publications, recently published a provocative piece on current massive interventions in the markets by the Federal Reserve and other central banks throughout the world. I recommend that you take a few minutes to read it.]

Money is too loose globally. Trouble is, there’s no obvious trigger that warns governments it is time to raise rates. Only a rise in consumer price inflation – or in inflation expectations – justifies central banks raising rates under their rickety inflation targeting regimes. Even then, governments can prevent them.

The risks and dangers for the global economy are like hidden reefs for a ship – invisible but deadly. It is quite possible, for example, that US monetary policy can cause an asset boom in China so large that its collapse would bring the Chinese economy down with it – and thus throw the world including the US into deep depression. This could happen while US retail prices held absolutely steady. There would be no pressure on the Fed to raise rates, and no justification for doing so from a short-term US perspective.

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Fifth Third Chairman Isaac: Here’s how to tell a bank is in danger by Steve Watkins Staff Reporter – Business Courier

Fifth Third Chairman Isaac: Here’s how to tell a bank is in danger by Steve Watkins Staff Reporter – Business Courier

May 11, 2013

Fifth Third Bancorp Chairman William Isaac does a lot of traveling and gives a lot of speeches and presentations about the banking business during the year. It’s not typically about Fifth Third, but Isaac’s background as former chairman of the Federal Deposit Insurance Corp. puts him in high demand.

So it’s no surprise he had jetted off to Indonesia late last month to deliver the keynote address at the annual Asian Banker Summit.

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