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

TARP Failed Says Inspector General

TARP Failed Says Inspector General

August 1, 2012

Neil Barofsky, who served as Special Inspector General of the TARP program, has come out with a scathing book about the TARP program and those who administered it. Of course, Barofsky’s conclusions come as no surprise to those of us who fought hard to defeat the ill-conceived TARP legislation. The link below will take you to a review of Barofsky’s book in The Daily Beast.

Here is the link to the full article

KRUGMAN DEBATES SCHWARTZ ON ECONOMY

KRUGMAN DEBATES SCHWARTZ ON ECONOMY

July 15, 2012

Princeton economist Paul Krugman argues continually that the cure for government fiscal and monetary policies that led us into economic crisis is more of the same. He met his match recently when he debated Spanish economist Pedro Schwartz. I highly recommend that you go to the link below and spend 15 minutes listening to Professor Schwartz’ remarks. This debate is fundamental to economic recovery in the US and Europe.

Here is the link to the video

Lakshman Achuthan, Co-founder of the Economic Cycle Research Institute, Says US in Recession Now

Lakshman Achuthan, Co-founder of the Economic Cycle Research Institute, Says US in Recession Now

July 10, 2012

The Economic Cycle Research Institute publishes a widely followed Weekly Leading Indexes. The ECRI forecast late last year that the US would fall into recession by mid-2012. ECRI’s founder reaffirmed that call and says he believes the US economy is already in recession. The link below will take you to the story.

Here is the link to the full article

Dunkelberg Responds to Blinder

Dunkelberg Responds to Blinder

July 10, 2012

Dr. William C. Dunkelberg is professor of economics at Temple University and is a nationally recognized authority on small business, consumer behavior, and government policy. Dr. Alan Blinder is a professor of economics at Princeton and a former member of the Federal Reserve Board. Blinder recently wrote an opinion piece in the Wall Street Journal supporting the re-election of President Obama. In the blog below, Dunkelberg challenges Blinder’s assumptions about proper economic policies. I believe Dunkelberg has it right and encourage you to read his piece that follows:

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ISAAC AND KRUGMAN DEBATE REVISITED

ISAAC AND KRUGMAN DEBATE REVISITED

June 22, 2012

Massimo Fuggetta, an asset manager in London, emailed me a copy of his latest blog in which he describes my book, Senseless Panic: How Washington Failed America, as one of the most important books on the financial crisis and a “great example of a competent, unassuming, level-headed professional whose advice is so much more valuable than the superficial, narcissistic and sometimes downright irresponsible vacuities of many revered ‘experts’.”

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Kovacevich Speaks Forcefully About TARP, Financial Crisis, Fannie & Freddie, Too Big To Fail, And the Economy

Kovacevich Speaks Forcefully About TARP, Financial Crisis, Fannie & Freddie, Too Big To Fail, And the Economy

June 19, 2012

Retired Chairman & CEO of Wells Fargo Dick Kovacevich delivered a powerful speech before the Stanford Institute for Economic Policy Research on June 12, 2012. One of the most successful and respected CEOs in banking history, Kovacevich pulls no punches in discussing TARP, the government’s handling of the financial crisis, the Dodd-Frank Act, what to do about Fannie Mae and Freddie Mac, and how to get the economy back on track.

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Kovacevich: TARP Was An “Unmitigated Disaster”

Kovacevich: TARP Was An “Unmitigated Disaster”

June 15, 2012

It is no secret that I adamantly opposed the TARP legislation and worked very hard to defeat it in Congress (we actually did defeat it in the first vote in the House). My friend Dick Kovacevich, retired Chairman & CEO of Wells Fargo and one of the most accomplished and successful bank CEOs ever, gave a candid interview about TARP and other important subjects to the Minneapolis/St. Paul Business Journal on June 13, 2012. The link to the article is below and I urge you to read it.

Here is the link to the full article 

Regulatory Policies Contract Bank Lending and Impede Economic Recovery

Regulatory Policies Contract Bank Lending and Impede Economic Recovery

June 13, 2012

The Bank for International Settlements (the central bank for central banks like the Federal Reserve and the Bank of England) has issued a study criticizing bank regulatory policies for curtailing bank lending and impeding the economic recovery.

Bank regulation should be counter-cyclical, not pro-cyclical. Bank capital and loan loss reserves should be increased during periods of prosperity and allowed to decline during difficult economic times.

Regulators in the US and abroad have been doing just the opposite, allowing excessive bank leverage and inadequate loan loss reserves during the build up to the 2008-2009 financial crisis and then imposing substantial increases in capital and reserves in the wake of the crisis.

The following link to the London Telegraph reports on the Bank for International Settlements study:

Here is the link to the full article