Paging George Champion
Before desk-top computers—before consultants—a worldwise banker laid in reserves against loan losses in the certain knowledge that credit experience is cyclical. What the great man could teach the Financial Accounting Standards Board.
Risk is where you don’t look for it.
Sell New York
Not the city, but the ticker. Where’s the value, Larry Silverstein?
Made (up) in Japan
You can run from credit risk, but you can’t hide it. A kind word for bankruptcy reform, no matter how belated.
Bubble No. 3
Growth in household net worth had handily outstripped growth in after-tax income. You may thank the Fed, Donald Trump.
Under the headline
The share price would be lower if the analysts were more curious. Attention, Wall Street: There’s a balance sheet, too.
Did the president of the European Central Bank say “savings” when – with a little more attention to analytical detail – he should have said “credit”?