Balance of Power Politics
Feb. 15 2011 | Nouriel Roubini, Roubini Global Economics, and Ian Bremmer, Eurasia Group, discuss the rise of conflict and less cooperation in international economic relations
Showing posts with label Ian Bremmer. Show all posts
Showing posts with label Ian Bremmer. Show all posts
Thursday, February 17, 2011
Monday, August 9, 2010
Nouriel Roubini and Ian Bremmer exclusive Amazon Interview
full Interview http://www.amazon.com/Crisis-Economics-Course-Future-Finance/dp/1594202508?tag=lipmon-20
Roubini : The list of culprits is very long. The Fed kept interest rates too low for too long in the earlier part the past decade and fed — pun intended — the housing and credit bubble. Bankers and investors on Wall Street and in financial institutions were greedy, arrogant and reckless in their risk taking and build-up of leverage because they were compensated based on short term profits. As a result, they generated toxic loans – subprime mortgages and other mortgages and loans – that borrowers could not afford and then packaged these mortgages and loans into toxic securities – the entire alphabet soup of structured finance products, so-called “SIVs” like MBSs – Mortgage-Backed Securities, or CDOs – Collateralized Debt Obligations -- and even CDOs of CDOs. These were new, complex, exotic, non-transparent, non-traded, marked-to-model rather than market-to-market and mis-rated by the rating agencies. Indeed, the rating agencies were also culprits as they had massive conflicts of interest: they made most of their profits from mis-rating these new instruments and being paid handsomely by the issuers. Also, the regulators and supervisors were asleep at the wheel as the ideology in Washington for the last decade was one of laissez faire “Wild West” capitalism with little prudential regulation and supervision of banks and other financial institutions.
Ian Bremmer and Nouriel Roubini: Author One-to-One
Bremmer : Who is to blame the most for the recent financial crisis? Who were the culprits of the latest one?Roubini : The list of culprits is very long. The Fed kept interest rates too low for too long in the earlier part the past decade and fed — pun intended — the housing and credit bubble. Bankers and investors on Wall Street and in financial institutions were greedy, arrogant and reckless in their risk taking and build-up of leverage because they were compensated based on short term profits. As a result, they generated toxic loans – subprime mortgages and other mortgages and loans – that borrowers could not afford and then packaged these mortgages and loans into toxic securities – the entire alphabet soup of structured finance products, so-called “SIVs” like MBSs – Mortgage-Backed Securities, or CDOs – Collateralized Debt Obligations -- and even CDOs of CDOs. These were new, complex, exotic, non-transparent, non-traded, marked-to-model rather than market-to-market and mis-rated by the rating agencies. Indeed, the rating agencies were also culprits as they had massive conflicts of interest: they made most of their profits from mis-rating these new instruments and being paid handsomely by the issuers. Also, the regulators and supervisors were asleep at the wheel as the ideology in Washington for the last decade was one of laissez faire “Wild West” capitalism with little prudential regulation and supervision of banks and other financial institutions.
Wednesday, July 7, 2010
Nouriel Roubini vs Ian Bremmer - is it Double dip recession or not
Roubini : Banks Too Big to Fail, Too Big to Bail Out
"A year ago we had all these policy bullets," Roubini said. "We could push down rates to zero, we had (quantitative easing), we could do a budget deficit of 10 percent of GDP (or) backstop the financial system."The financial reform bill is headed to the Senate later this month, with Chris Whalen, Institutional Risk Analytics; Ian Bremmer, Eurasia Group and Nouriel Roubini, Roubini Global Economics and NYU Stern School of Business.
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