People

Mike Derham

Mike Derham is chair of PPI's Innovative Economy Project.

Writings

Blog

By / 2.11.2010

Things in Europe are looking grimmer than my chances of getting a taxi in blizzard-slammed New York City. Today’s announcement that Germany and France are going to provide financial aid to Greece — with stringent IMF oversight — caps off weeks of speculation that the EU would have to bail out the Hellenic Republic. The newly elected […]

Other

By and / 2.3.2010

Download the report. As the tragedy in Haiti plays out in nightly newscasts, Americans can be proud of their contribution to the relief effort. With over 16,000 U.S. forces already deployed and $100 million in reconstruction money pledged from the government — on top of over $500 million donated privately — America’s commitment is firm. […]

Blog

By / 1.28.2010

Facing almost as much uncertainty about the economy one year into his mandate as he did at the outset, President Obama gave his State of the Union address the way we’ve come to expect him to – sticking to his guns with cool determination while acknowledging that not everyone agrees with him. His speech highlighted […]

Blog

By / 1.22.2010

The White House yesterday announced new restrictions on banking activity, designed to address the issues that caused the crisis 15 months ago. Wall Street reacted by letting stocks fall 200 points, which initially would make you think the announcement must be right. The White House’s plan has two main parts: a limit on the scope of […]

Blog

By / 1.14.2010

Following a week of trial balloons about a tax on banks and bankers, President Obama today unveiled a “financial crisis responsibility fee,” to be levied against 50 of our nation’s largest banks. While the tax will not be able to seriously address the deficits that the government faces – it’s expected to raise only $90 billion over 10 […]

Blog

By / 1.6.2010

As we head into the new year, one of the biggest questions facing the economy is: “Whither the interest rate?” This number is set by the Federal Open Market Committee and its targeting of the fed funds rate – or the rate at which banks lend funds to each other – is currently effectively zero […]

Blog

By / 12.18.2009

Word going around Washington this week is that Sens. John McCain (R-AZ) and Maria Cantwell (D-WA) are pushing to reinstate Glass-Steagall: McCain and Cantwell, a Washington Democrat, join other lawmakers in Congress proposing to reinstate the 1933 law, repealed a decade ago by the Gramm-Leach-Bliley Act that led to a rise in conglomerates including Citigroup Inc., JPMorgan Chase […]

Blog

By / 12.10.2009

It’s a sign of the times when “our bridges and roads are falling apart” gets cited as an issue more pressing than college football’s annoying Bowl Championship Series (BCS) on ESPN. And, while the president hasn’t fulfilled his promise to set up an eight-team playoff yet, he’s taken the issue of infrastructure head-on. The administration’s focus […]

Blog

By / 12.9.2009

The Rep. Barney Frank (D-MA)-authored Wall Street Reform and Consumer Protection Act passed the House Financial Services Committee last Wednesday, and could come to a floor vote in the House as soon as this week. Through legislative jujitsu on Frank’s part, the bill will have a lead on Sen. Chris Dodd’s (D-CT) efforts in the […]

Blog

By / 12.3.2009

In discussions about the dismal state of the economy, the existence of “too big to fail” institutions has emerged as a recurring cause for concern. In particular, Bank of America and Citigroup (the first and third largest banks in the country, respectively) are firms whose size makes them an “existential threat” to the well-being of […]