While it appears the combination of ample liquidity injections by the Fed and soft loans guaranteed by the Small Business Administration has managed to ease concerns of a looming and massive cash crunch across the economy, there is at least one group of financial firms that has…
Money-market mutual funds (MMMFs) have had a turbulent couple of weeks. On March 18, the Federal Reserve System created a Money Market Mutual Fund Liquidity Facility (MMLF) to "assist money market funds in meeting demands for redemptions by households and other investors." What's the source of the…
This morning, upon logging in to my Twitter account, I found it brimming with reports that the Hong Kong government was about to embark upon an unprecedented experiment with helicopter money. "Helicopter Money is Here," blurts an FT Alphaville headline. "Hong Kong Embraces Helicopter Money," says Zero…
Uncertainty about the application of the securities laws has been an important concern, and a barrier to growth, for many crypto projects. Commissioner Peirce's safe harbor would go a long way toward addressing that uncertainty.
On Feb. 5, I had the pleasure of addressing the annual conference of the Receivables Management Association International in Las Vegas. Below is a transcript of my speech. ***** Thank you for the opportunity to address you this morning. It has become so easy to borrow in…