Asher Edelman

"Wall Street Becalmed", a war cry from the frustrated investment banking community - a rational for poor earnings performance of the trading arms of many a bank. Goldman Sachs earns single digit returns on capital with mid teens its objective. The American political world in extreme volatility, [...]

Feature image of Steve Mnuchin, Treasury Secretary Dear Friends, From time to time I’m asked for a market opinion, especially in today’s confusing economic environment. When contemplating market movement, it might be helpful to think about the possibility of legal government sponsored [...]

 Dear Friends, I am writing this note in the hope that you, like me, will have an interest in sponsoring one of the few institutions of fair-minded economic thinking. The Levy Institute conducts research programs and offers solutions to a myriad of politically fouled economic issues abounding in today's [...]

Yesterday, Patricia Kowsmann published the linked article on the Portuguese banks. I wish it was as good as Patricia described.The facts are: With one exception, all of the Portuguese banks including Caixa Geral, the government owned bank, are technically bankrupt and insolvent. They have not yet written [...]

I read with interest a Bloomberg article entitled “Italy Could Spark European Bank Crisis.” The article quotes Societe Generale Chairman Lorenzo Bini Smaghi as saying that “governments must accept the idea of taxpayer money as the ultimate recourse.” Lorenzo Bini Smaghi has held many impressive [...]

"Britain's exit from the European Union is of less significance than the economists have contemplated" at least to the UK. The economic pundits, always in sync with the status quo have hopped on a new bandwagon!  They shout "The evil English have separated from the EU and they will be punished."  Punished [...]