Archive for November 4th, 2015

Why e-commerce firms advertise offline?

November 4, 2015

Interesting piece in ToI.

Given the huge online space (and I think cheaper as well), one wonders why e-commerce companies advertise in traditional places like newspapers, TV etc.?

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Resurrecting Glass-Steagall

November 4, 2015

Simon Johnson, the long standing warrior against big banks and fancy finance suggests to reinstate Glass Steagall Act.

The best argument for a modern Glass-Steagall act is the simplest. We should want a lot more loss-absorbing shareholder equity. And, to reinforce this, we should want to make the largest banks simpler and more transparent, with “strong structural firewalls” as Dennis Kelleher, of Better Markets, puts it. Of course, in that context, we should ensure that various activities by “shadow banks” (structures that operate with bank-like features, as Lehman Brothers did) are properly regulated.

Building support for legislation to simplify the biggest banks would greatly strengthen the hand of those regulators who want to require more shareholder equity and better regulation for the shadows. These policies are complements, not substitutes.

Just 20 years back, there was so much noise about removing Glass Steagall Act. And it was of course removed and banks allowed to get into all other activities. Discussions have moved back to square one now..

Linkages between Swiss monetary policy and Swiss financial centre

November 4, 2015

Linkages are obvious. But we usually do not see a speech where one talks about financial centres.

Thomas J. Jordan chief of Swiss National Bank gives a speech on the topic. Most don’t know but Swiss have had three financial centres – Geneva, Basel and Zurich. Eventually, Geneva emerged as the preferred one.

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Is cricket the greatest of all sports?

November 4, 2015

Ian McDonald (a poet, novelist and columnist who lives in Guyana) has a romantic piece in cricinfo.com (what will one do without this site, what terrific pieces one after the other!). He does not ask the question as posed in the post title but says it is the best game:

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