Monthly Archives: September 2008

The Fall of the House of TARP: Time for Plan B

I am not surprised that the Troubled Asset Relief Program (TARP) failed. The paper that I put out on Friday detailed the numerous problems with the TARP.  My paper argued that the TARP had at least three major flaws.


My Proposal to End the Credit Crisis and Minimize Damage to the Real Economy

We have been trying to put out one fire after another and it is time to get ahead of the problem.  One day it is money market funds, the next is Washington Mutual, and TARP over the weekend. We need … Continue reading


Contagious Systemic Risk: My Warning in 2005

Durham , NC — In late January 2005, Fuqua finance professor Cam Harvey traveled to Davos, Switzerland, for the world’s most important annual economic forum. From his panel discussion on corporate earnings to his encounters with senators and celebrities, Harvey … Continue reading


The Risk We Face: AIG Nationalization and Other Thoughts

  The extraordinary risk will not be resolved by the nationalization of AIG or steps to make it easier to borrow from the Federal Reserve. We face the specter of the ‘night of the living dead scenario’ where there are … Continue reading


The Night of the Living Dead

We face the specter of the ‘night of the living dead scenario’ where there are hundreds if not a thousand financial institutions are operating today – but are dead if mark to market accounting was applied to their assets. In … Continue reading