Scotland’s No Echoes Europe’s Yes to Grand Coalitions
The union is saved. Alex Salmond, Scotland’s nationalist first minister, has resigned. All the ink spilled on the benefits and costs of an independent Scotland can be consigned to counterfactual history. The only pressing question is the significance – and consequences – of the No vote.
Secrets Of The Fed Dallas Fed President Interviews Former Federal Reserve Chief Paul Volcker
Former Federal Reserve chairman Paul Volcker thinks a lack of discipline in financial markets and speculative banking investments led to the financial crisis of 2007-08. That’s what he told a roomful of fellow economists and business leaders last night at a global economic conference at the Federal Reserve Bank of Dallas. Dallas Fed president Richard Fisher led a question-and-answer session with Volcker, who is best known for taming inflation in the 1970s and 1980s and, more recently, helping to pass a federal regulation restricting U.S. banks from making risky investments that could lead to their failure.