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Do you think his PPIP [public-private-investment program] is a smart move in getting the toxic assets off the balance sheets of banks? The premise that private investors would purchase these toxic assets on the assumption that as time passes, the value of these toxic assets will improve - I...

Author: /time Magazine | Title: Advice from an Economist Who Saw 1929 | 7/9/2009 | See Source »

And you don't agree with that? I don't, no. I think these assets should be purged, and the only way to purge them is for the government to take them over and to relieve private holders [the banks] of these assets.

Author: /time Magazine | Title: Advice from an Economist Who Saw 1929 | 7/9/2009 | See Source »

Indonesia has also been surprisingly unscathed by the global financial crisis. Though exports are down, the country recorded 4.4% growth in the first quarter of this year. Local banks are unburdened with the kind of debt crippling financial institutions in other countries. A monthly consumer-confidence survey elicited the second...

Author: /time Magazine | Title: Indonesia Elections: A Win For Democracy | 7/8/2009 | See Source »

Capital requirements are an area in which many observers think dumbing down is in order. Regulators spent decades fine-tuning their risk-weighted capital rules, in some cases using the supposedly sophisticated risk models developed by banks themselves. The result was ratios of debt to capital that topped 35 to...

Author: /time Magazine | Title: Dumbing Down Regulation: The Quest For Simpler Rules | 7/6/2009 | See Source »

To become rich and famous in the depression '30s, a fellow could make movies, play baseball or rob banks. John Dillinger chose Way 3, and for a while he enjoyed the celebrity of a Clark Gable or a Lou Gehrig. Newspapers breathlessly limned his exploits as he made sizable withdrawals...

Author: /time Magazine | Title: Kill Dill: Depp's Dillinger Disappoints | 7/6/2009 | See Source »

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