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The FED Contributed to the Housing Bubble but was not the Sole Cause Thereof

April 9, 2009

Analysis of:Did the Fed Cause the Housing Bubble? | online.wsj.com

The current economic crisis which originated in the financial sector housing sector nexus clearly calls for significant changes in policies and regulations in several areas. In terms of the FED, the goal of stable asset prices might have to be added to the goals of low inflation and full employment. This would mark an important and controversial policy change, but the prevention of future bubbles requires strong medecine. Similarly, strong measures are necessary in the financial services industry, the Government Sponsored Enterprises (GSEs) such as Fannie Mae and Freddie Mac, and consumer education or the next bubble is just a matter of time.

Beggar Thy Neighbour - Not! Financial Regulation And Comparative Advantage

March 25, 2009

Analysis of:London will remain key financial centre as light-touch regulation ends, Turner insists | www.telegraph.co.uk

The financial industry meltdown is widely viewed as having led to the severe global economic recession. More effective regulation of the industry is according to some analysts the key requirement to prevent a recurrence of the problem. However, in order to protect their competitive advantage countries such as the UK may adopt a new regulatory regime that imposes a smaller compliance burden than is required. This is one dilemma posed by the Turner Report.

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