Live! From Capitol Hill: Former Fed Chairman Paul Volcker Testifies in Front of Senate Banking Committee
Bloomberg, February 05, 2009
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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February 5th, 2009 at 4:51 pm
I haven’t yet watched the video.
But one question I would have is, what can (or should) be done (if anything) with hedge funds that rent an office in the Cayman Islands as a way to circumvent disclosure requirements?