Wells Fargo’s board members are getting off too easily

February 6th, 2018

A question I am asked as frequently as any other is: “Why didn’t anyone go to jail for the financial crisis?” There was huge suffering, sufficient misbehavior that the largest banks had to pay well over $100 billion in fines, and in the past, people had gone to jail for financial shenanigans during the Depression and the S&L crisis. People are usually indignant as they ask the question. READ MORE

Why Treasury Secretaries should stick with the strong dollar mantra

January 25th, 2018

Yesterday in Davos, Secretary Mnuchin left the impression that he might be reversing 25 years of US Treasury strong dollar policy by asserting that, “Obviously a weaker dollar is good for us as it relates to trade and opportunities.”  The dollar then had its biggest one day decline in nearly a year and bond yields rose.  Commerce Secretary Ross later joined the fray claiming that the US strong dollar policy was unchanged but this did not affect markets. READ MORE