Tag Archives: Fed

The Fed Knows Prices, But the Founders Knew Real Values

by Adam White — Thursday, Apr. 7, 2016

Peter Conti-Brown’s terrific study of the Federal Reserve arrives amid a small boomlet—I won’t say “bubble”—of new books on our central bank: Roger Lowenstein’s America’s Bank: The Epic Struggle to Create the Federal Reserve; former Chairman Bernanke’s memoir, The Courage to Act; similar memoirs by former Chairman Greenspan and former Treasury Secretary Geithner; Philip Wallach’s […]

The Fed’s Discretionary Judgment, or the Discretionary Fed?, by Philip Wallach

by Guest Blogger — Friday, June 5, 2015

I’ll return to my previously scheduled programming (about Treasury’s audacious money market fund rescue) next time, and spend this post returning Peter’s fire on the question of the Fed’s role in Lehman’s demise and clarifying what exactly we disagree about. We do have somewhat divergent views about the Fed’s crisis powers, but at some points […]

Lehman the Lemon, or Lehman the Forsaken?, by Philip Wallach

by Guest Blogger — Wednesday, June 3, 2015

Peter Conti-Brown says that the Fed’s official explanation for its failure to rescue Lehman Brothers, which blames the Fed’s legal limitations, is “pure spin,” and that “the Fed reached for legal cover when the Lehman bankruptcy turned out very differently than they had hoped. It was a political decision, not a legal one.” Under his […]

Legality, Legitimacy, and the Responses to the 2008 Financial Crisis, by Philip Wallach

by Guest Blogger — Friday, May 29, 2015

Many thanks to Peter Conti-Brown for his kind words about my book and his invitation to guest-blog here. I’ve been greatly enjoying Notice & Comment since its launch, and it’s an honor to be in the company of so many distinguished legal scholars. As a way of launching my discussion, let me offer a very […]