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Credit Crisis Part Deux

From Institutional Investor:

June 22, 2009 - Ben Bernanke has announced green shoots, and Tim Geithner has completed the bank stress tests. Unfortunately, all this good news amounts to little more than a public relations stunt pulled by the government, and it remains to be seen how long they can continue to fool the public. If one simply looks at the monthly call reports published by the government reporting the financial health of our nation’s banks, one will see a vastly different picture.

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Ann Lee is an expert on financial derivatives and the global financial system. Currently Lee teaches economics and finance at New York University. Click here for her complete bio.

One Response to “Credit Crisis Part Deux”

GuestJune 23rd, 2009 at 7:33 am

Let me be clear in my opinion: THE FUC#### FINANCIAL SKY IS FALLING!!! But don’t panic, your government has it completely under control. Geeeeesh! Barack, you signed up for this duty, you are now responsible for the lack of transparency in the financial system NOW! The bad guys have done damage beyond an orderly repair. Let the pain / reckoning occcur and let’s get on with transparency…NOW, NOW, NOW!!!

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Thomas Grennes is a professor of economics at the North Carolina State University and a former visiting faculty member at the Stockholm School of Economics in Riga. His research has dealt with various aspects of international economics, including open economy macroeconomics, international finance, and international trade in agricultural products. Recent research topics have included macroeconomic aspects of the Great Moderation, offshore outsourcing, sovereign wealth funds, and the relationship between government debt and economic growth. Earlier work dealt with emerging market issues in the Baltic countries and Russia and trade and macro policies in Sub-Saharan Africa. Economic history topics include the Columbian Exchange of plants and animals, the effects on food markets of introducing mechanical refrigeration, and the integration of Tsarist Russia into the world grain market. When he is not involved in economics, he enjoys mountain hiking.

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