..........The author acknowledges the "rare clarity" in Raghuram Rajan's presentation at the Jackson Hole Conference of 2005. He "had an astute understanding of the ways in which the financial industry, with misguided compensation policies that encouraged risk taking, was making the world a more dangerous place." The author has done a comprehensive survey of all the developments during the crisis, including what happened in confidential negotiations to resolve the problems facing the US and Europe...............
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Monday, August 26, 2013
Central banking turned upside down
..........The author acknowledges the "rare clarity" in Raghuram Rajan's presentation at the Jackson Hole Conference of 2005. He "had an astute understanding of the ways in which the financial industry, with misguided compensation policies that encouraged risk taking, was making the world a more dangerous place." The author has done a comprehensive survey of all the developments during the crisis, including what happened in confidential negotiations to resolve the problems facing the US and Europe...............
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