Reading List: Too big to jail

23rd February 2012

Too Big to Jail

Simon Johnson reflects on a recent settlement in which five large banks "settled" their legal liability for carrying out fraudulent foreclosures on mortgages. He concludes that the outcome of the case sends the message that banks are not only "too big to fail, but also too big to jail." Project Syndicate


Japan slowly wakes up to doomsday debt risk

"Capital flight, soaring borrowing costs, tanking currency and stocks and a central bank forced to pump vast amounts of cash into local banks — that is what Japan may have to contend with if it fails to tackle its snowballing debt" – ouch! Reuters


Manufacturing Illusions

Talk of bringing manufacturing "back to America" is foolish because the real issue isn't how to get manufacturing back. "It's how to get good jobs and good wages back. They aren't at all the same thing." Robert Reich


The Real Economic Crisis Ties the GOP in Knots

Richard Kirsch says republican candidates are split between supporting free market purists and the public's desire for a living wage. New Deal 2.0


Hawtrey on the Interwar Gold Standard

After reading Ralph Hawtrey's Trade Depression and the Way Out, David Glasner highlights differences between the interwar and the pre-war gold standards and what would happen if a gold standard were to be restored today. Uneasy Money


Got any other suggestions for what we should be reading? Tell us below? 

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