Mark Calabria

Posted December 08, 2013

Low rates are often defended as “putting money in the consumers’ pocket” but that couldn’t be further from the truth. It simply transfers money from one set of consumers to another.

Posted November 25, 2013

The Banking Committee approved Yellen 14 to 8, with only one Democrat, Sen. Joe Manchin (D-W.Va.), voting against her and she is likely to be voted on by the full Senate by the middle of December.

Posted October 28, 2013

Natural disasters illustrate the industry’s ability to manage and absorb large losses. The losses from hurricanes Katrina and Andrew, and the Northridge earthquake, were all comparable to the losses from 9/11, so there is nothing particularly special about the level of terror damage.

Posted October 21, 2013

We have regularly seen tribes attacked whenever they dared engage in commercial activity — such as selling cigarettes or operating casinos — that does not conform to the prudish tastes of upper-class America.

Posted October 13, 2013

While Yellen is likely to receive a frosty reception from Republicans, she has a very good chance of garnering the necessary 60 votes needed to achieve Senate confirmation.

Posted September 30, 2013

If you think bubbles are a great avenue for wealth creation, then Yellen is the Fed chair for you. If you, however, suspect bubbles are damaging to our economy, then you might rightly be concerned that she repeats her San Francisco performance on a national level.

Posted September 24, 2013

Sadly, most of what's past for financial reform has been useless or outright harmful. The hours put into financial reform should not be our measure of success, but rather the effectiveness of those reforms and their actual relationship to the causes of the financial crisis.

Posted September 09, 2013

We see what starts to look like a pattern here: downgrade the United States and expect some abuse.

Posted August 11, 2013

The president wants “no more leaving taxpayers on the hook for irresponsibility or bad decisions,” but then he implies that government should continue to stand behind risk in the housing market.

Posted August 04, 2013

Since 2010, the number of minimum wage workers has declined by over 800,000. Given the increase in minimum wage in 2009 and the relatively weak labor market, I think it’s a safe bet that most of these workers left the labor force rather than received a big raise.

Posted February 12, 2013

Setting aside the fact that the government can come take your home, with or without a mortgage, it’s hard to say you really “own” it unless it’s all yours.

Posted February 04, 2013

Given their role in the companies’ failures, we should encouraging long-time Fannie/Freddie employees to leave, not stay.

Posted November 25, 2012

I suspect many Republicans, at least those not closely aligned with the real estate industry, are torn between wanting to immediately get rid of Fannie and Freddie and getting the taxpayers’ money back.

Posted November 19, 2012

Well, Obama's victory means that Federal Reserve Chairman Ben Bernanke will keep his job, at least until the end of his term in 2014.

Posted November 11, 2012

It is worth noting that the issue of auditor independence had been subjected to repeated analysis in the academic literature. The conclusions of that literature so contradict the provisions of SOX that Yale Law Professor Roberta Romano labeled them as "quack corporate governance".

Posted November 03, 2012

As long as we allow the narrative to run that Lehman’s collapse caused the crisis, then “solutions” like Dodd-Frank will continue to dominate the debate, rather than recognizing a housing bubble drove the crisis.

Posted October 22, 2012

The most recent LPS data, covering to the end of August 2012, shows that for the first time, over half of foreclosures are for borrowers that were previously in foreclosure.

Posted September 12, 2012

The CFPB is only one of the many obstacles to job creation and consumer credit in our economy. Restructuring or eliminating the agency would certainly improve outcomes, both for our economy and consumers in general.

Posted September 03, 2012

So if Democrats want to continue to push for higher minimum wages, with the resulting higher unemployment, they should stop claiming to have any scientific backing for the position and just admit that they want to redistribute from one group of Americans to another group.

Posted August 19, 2012

Essentially, the Treasury has amended its agreements with Fannie and Freddie so that the companies no longer have to pay a fixed dividend to the U.S. taxpayer, but instead “every dollar of profit” from the companies to the taxpayer.


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