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Christopher Whalen

Christopher Whalen is an author and investment banker who lives in New York. Read more about Christopher here.


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Washington & Wall Street: Is Dodd-Frank Killing the US Economy?

In my last post, “Washington & Wall Street: So Why Can't We Prosecute the Banksters?,” we started to get into some of the historical antecedents of financial regulation. In this post let’s take the analysis a bit further and start with a conversation I had yesterday with Aaron Task of Yahoo’s Daily Ticker, where we talked about how Dodd-Frank and other regulations are hurting credit creation, jobs and the US economy. Nov 21, 2013 5:47 AM PT

Washington & Wall Street: So Why Can't We Prosecute the Banksters?

During the hearings last week regarding the nomination of Fed Vice Chairman Janet Yellen, the one thing you definitely heard nothing about was why the US government has not pursued fraud prosecutions against the officers and directors of the major US banks.  The almost complete lack of prosecutions against the people most responsible for the 2008 subprime crisis is a glaring omission and one that is hurting America’s prospects for a recovery. Nov 19, 2013 5:41 AM PT

Washington & Wall Street: Living in the Twitter Economy

The initial public offering for Twitter (TWTR) came out Thursday. The stock priced at $26 and subsequently rose as high as $50, then fell back down to a little less than $45. Not bad for a company that has virtually no revenue and no profits. Today, at least, Twitter is worth $24 billion. Nov 8, 2013 12:40 PM PT

Washington & Wall Street: Watt Nomination Latest Fiasco for Valerie Jarrett

Last week, the Democrat controlled Senate failed to muster 60 votes to confirm the nomination of Rep. Mel Watt (D-NC) to be the new, permanent director of the Federal Housing Finance Agency. The White House selected Watt to be the regulator of Fannie Mae and Freddie Mac in a cynical effort to placate the Congressional Black Caucus, but in truth the Obama Administration never made any significant effort to get Watt confirmed. Nov 4, 2013 9:42 AM PT

Washington & Wall Street: Austerity vs. Financial Repression

The liberal segments of Congress and the Big Media are pounding away on the idea that “austerity” due to budget cuts is somehow behind the slow performance of the US economy. Never mind that there is little evidence that the massive public spending by the Obama Administration after 2007 had little or no impact on either jobs or consumer spending. Oct 29, 2013 8:53 AM PT

Washington & Wall Street: Rand Paul Right to Oppose Janet Yellen

Senator Rand Paul (R-KY) is threatening to put a hold on the nomination of Janet Yellen to chair the Federal Reserve, CNBC reports. Paul is insisting on a vote on the Fed transparency bill first proposed by his father Ron Paul (R-TX). Senator Paul has apparently informed the Senate leadership of his intentions, according to Steve Liesman of CNBC, and the sheep who inhabit Wall Street are stampeding. Oct 26, 2013 7:55 AM PT

Washington & Wall Street: Is the Federal Reserve Responsible for Fiscal Gridlock?

There is a lot of commentary in the press about who is responsible for the government shutdown and the near-miss with respect to extending the debt ceiling. The leading culprit is the Tea Party movement, a bunch of right-thinking Americans who are foolish enough to believe in the libertarian principles upon which our nation was founded. But blaming the Tea Party for the fiscal gridlock in Washington is dead wrong. Oct 21, 2013 4:49 PM PT

Washington & Wall Street: Debt Ceilings and National Delusions

The apparent end of the standoff in Washington over raising the ceiling for the national debt provides all sorts of opportunities for commentators to blame once side or another.  More than anything else, Americans are offended by the idea that Congress could somehow fail to agree to keep borrowing hundreds of billions of dollars per year, this to keep us all in the life style to which we are accustomed.  The notion that anyone would suggest an end to this theft from future generations is seen as reckless. Oct 17, 2013 8:03 AM PT

Washington & Wall Street: Should Janet Yellen Be the Next Fed Chairman?

Federal Reserve Board Vice Chaiman Janet Yellen has been nominated to replace Chairman Benjamin Bernanke. Many observers support her selection by President Barrack Obama, in large part because she is not Lawrence Summers, the political minion of the disgraced former Goldman Sachs CEO, Treasury Secretary and Citigroup Chairman Robert Rubin. But before we start celebrating the choice of Yellen, it may be a good time to actually examine her views on inflation and economic growth. Oct 12, 2013 10:47 AM PT

Washington & Wall Street: Over Regulation Is Hurting Housing and Jobs

This is likely to be a bad week for housing and the economy, but not for the reasons you might suspect.  The usual cast of characters in the Big Media wants you to believe that the rise in interest rates since last summer and/or the government shutdown are to blame for wilting lending volumes, disappointing corporate earnings and poor job growth in the US economy.  Oct 8, 2013 1:16 PM PT

Washington & Wall Street: Why Republicans Must Say No to Obamacare

The left really expects conservatives in both parties to kneel down and surrender. In the New Speak of the left, opposition to their agenda is tantamount to treason. Compromise, in the language of the left, is really all about conservative capitulation. Oct 3, 2013 6:36 AM PT

Washington & Wall Street: Trouble Ahead for New York City

The 12-year tenure of Michael Bloomberg provides a case in point. “Avoiding the hard choices is how Detroit went bankrupt,” the mayor declared in a speech earlier this year. Yet avoiding hard choices is precisely how Mayor Bloomberg has managed to direct the affairs of New York City and even increases services without significantly raising taxes. The efficient, pro-business façade maintained during the Bloomberg years is now about to disappear, revealing a local political equation that is unfamiliar to most residents and considerably to the left of even New York State’s liberal political center. Sep 25, 2013 12:45 AM PT

Washington & Wall Street: Bernanke Signals Economy Not Recovering

For the past several weeks, financial professionals have listened to a procession of economists predicting that the Federal Reserve would start to end its extraordinary, $85 billion per month in purchases of government and mortgage bonds. Known as “quantitative easing,” the Fed’s bond buying is a Keynesian inspired expedient supposed to boost job growth and consumer income, but has largely failed to deliver in either case. Sep 19, 2013 10:10 AM PT

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