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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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bailouts

FSOC, Treasury, SIFI, too big to fail, bailouts
Banking Regulation, Financial Markets, News

Treasury FSOC Report's Troubling Bailout Specter

Thaya Brook Knight/November 21, 2017June 19, 2022

On Friday, the Treasury Department released a report on Financial Stability Oversight Council (FSOC) designations. This report could have addressed the problem underlying FSOC’s designation authority: the fact that it makes explicit which financial institutions are “too big to fail,” paving the way for more bailouts of…

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lender of last resort, bank runs, panics, monetary primer
Free Banking, Monetary Policy Primer, Recommended Reading, The Fed & Central Banks

A Monetary Policy Primer, Part 11: Last-Resort Lending

George Selgin/August 8, 2017June 19, 2022

So far, throughout this primer, I've claimed that central banks have one overarching task to perform:  their job, I said, is to "regulate the overall availability of liquid assets, and through it the general course of spending, prices, and employment, in the economies they oversee." I've also…

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courage to act, Bernanke, Federal Reserve, Fed, bailouts, moral hazard, TBTF, too big to fail
Money & Politics, News, The Fed & Central Banks

The Courage to Refuse

George Selgin/October 31, 2015June 19, 2022

[A well-known consequence of the Fed's rescue efforts consists of the "moral hazard" they pose–that is, their tendency to encourage extra risk-taking by persons who suppose that they, too, will be rescued  if their wagers don't pay. Yet one particularly dangerous sort of moral hazard  hasn't gotten…

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Federal Reserve, Bailouts, 13(3), Warren, Vitter
Events, Money & Politics, News

Reforming the Federal Reserve's Rescue Authority: Warren and Vitter Come to Cato

Tom Clougherty/September 17, 2015June 19, 2022

For all the ink spilled on TARP — the bailout package authorizing the Treasury to purchase or insure up to $700 billion of “troubled assets” during the financial crisis — that program is dwarfed by another market intervention that occurred around the same time.  In fact, the Government…

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Contributors

  • George Selgin
  • Norbert Michel
  • Alan Reynolds
  • Larry White
  • James Dorn
  • Jennifer Schulp

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  • Working Papers (7)

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About Us

Welcome to Alt-M, a community devoted to exploring and promoting ideas for an alternative monetary future. Our goal is to reveal the shortcomings of today’s centralized, bureaucratic, and discretionary monetary arrangements, and to bring serious consideration of real alternatives to the center stage of current monetary and financial reform debates.

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