Moral Hazard


The shadow banking system of hedge funds and CDOs, CLOs, PIPES

Financial Crisis

Rolf Englund IntCom internetional

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"Det är svårt att vara olyckskorp när allt går som smort"

The International Monetary Fund (IMF)'s management and staff welcomed a report released on Wednesday by the Independent Evaluation Office (IEO) of the IMF on the Fund's performance in the period prior to the global economic and financial crisis.
People´s Daily Online English (Folkets Dagblad, Peking), 10/2 2011

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"Even as late as April 2007, the IMF's banner message was one of continued optimism
within a prevailing benign global environment,"
Behind the scenes, a number of board members took issue with the upbeat messages
Daily Telegraph 10 Feb 2011

Behind the scenes, a number of board members took issue with the upbeat messages in flagship documents, the report found.

However, several senior staffers felt expressing views that went against the grain could "ruin one's career"

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What we saw this summer is something we've seen before and will undoubtedly see again. The sell-off was predictable and avoidable.
Some people were apparently shocked to learn that gambling was occurring at Rick's Cabaret.
Speech by Michael E. Lewitt, made at the The Bank Credit Analyst Conference
Mauldin's Outside The Box 2007-11-05

I många fall tycker jag ärligt talat inte att våra nuvarande ordningar för att hantera svaga banker räcker till.
Riksbankschef Stefan Ingves 2008-05-19

Finansinspektionen har fått hård kritik för att den inte stoppade bankernas och finansbolagens hejdlösa utlåning i tid.
Men dåvarande chefen Hans Löwbeer, 69, svär sig fri.
- Det är så jävla lätt att vara efterklok.

- Det är svårt att vara olyckskorp när allt går som smort
Stig Danielsson

Kommentar RE 1998 och många gånger tidigare:
Att det är svårt att vara olyckskorp när allt går som smort, är riktigt.
Men det är det dom har betalt för, regeringsledamöter, bankdirektörer, bankinspektörer och inte minst riksbankschefer och ordföranden i Riksbanksfullmäktige, t ex Staffan Burenstam Linder.

Problem bank list climbs to 829
its highest level since 1993 during the second quarter
CNN August 31, 2010

But the most striking similarity between Ireland and America was “regulatory imprudence”: the people charged with keeping banks safe didn’t do their jobs.

By all means, let’s limit both leverage and the use of securitization — which were part of what Canada did right. But such measures won’t matter unless they’re enforced by people who see it as their duty to say no to powerful bankers.
Paul Krugman March 7, 2010

The Federal Deposit Insurance Corporation (FDIC)
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