Global Economic Watch Money and the Financial System November 15, 2009.

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Presentation transcript:

Global Economic Watch Money and the Financial System November 15, 2009

Externality http://www.economicshelp.org/marketfailure/negative-externality.html

Market Failure The list of Bank Failures in Brief is updated through November 13, 2009. November Pacific Coast National Bank, San Clemente, CA with approximately $134.4 million in assets and approximately $130.9 million in deposits was closed. Orion Bank, Naples, FL with approximately $2.7 billion in assets and approximately $2.1 billion in deposits was closed.

Senate Proposal Bold Proposal to Create a Sound Economic Foundation to Grow Jobs, Protect Consumers, Rein in Wall Street, End Too Big to Fail, Prevent Another Financial Crisis

+ Reaction

- Reaction Separation of consumer protection from safety and soundness supervision and regulation of depository institutions through the proposed Consumer Financial Protection Agency (CFPA) would weaken both efforts http://www.aba.com/NR/rdonlyres/71949FE8-BA04-40B8-BC61-AF9F612C679A/63649/CFPAimpactonBankSupervision.pdf

Discussion Why do market (financial) failures occur? What steps can be taken by government to prevent market failures? Why it may be difficult to formulate optimal government regulation?