Ayo
@ayogeorge.bsky.social
IL & RI
UChicago Harris & Water Finance Exchange
public finance & urban economics
UChicago Harris & Water Finance Exchange
public finance & urban economics
Reposted by Ayo
The government (in)famously did not provide a rescue loan to Lehman. The Fed did, however, lend substantially to the firm dealer subsidiary.
@ayogeorge.bsky.social & I have a new case study on this intervention, which also squares that apparent inconsistency. In the Journal of Financial Crises:
@ayogeorge.bsky.social & I have a new case study on this intervention, which also squares that apparent inconsistency. In the Journal of Financial Crises:
United States: Lehman Brothers Broker-Dealer Emergency Liquidity Program, 2008
On Sunday, September 14, 2008, a deal to sell the United States investment bank Lehman Brothers Holdings Inc. (LBHI) to United Kingdom-based Barclays fell apart
papers.ssrn.com
April 11, 2025 at 11:14 PM
The government (in)famously did not provide a rescue loan to Lehman. The Fed did, however, lend substantially to the firm dealer subsidiary.
@ayogeorge.bsky.social & I have a new case study on this intervention, which also squares that apparent inconsistency. In the Journal of Financial Crises:
@ayogeorge.bsky.social & I have a new case study on this intervention, which also squares that apparent inconsistency. In the Journal of Financial Crises:
Reposted by Ayo
You guys keep wanting to touch the stove. I'm telling you we can't touch the stove. What we can do is recreate it. We recreate stove touching in the aggregate.
February 19, 2025 at 3:23 AM
You guys keep wanting to touch the stove. I'm telling you we can't touch the stove. What we can do is recreate it. We recreate stove touching in the aggregate.
Fiscal discipline, government accountability, and a focus on quality of services
I believe they call this pragmatic progressivism
I believe they call this pragmatic progressivism
January 13, 2025 at 11:51 PM
Fiscal discipline, government accountability, and a focus on quality of services
I believe they call this pragmatic progressivism
I believe they call this pragmatic progressivism
Nothing more politically sensitive in restructuring than establishing a hierarchy of claims. Also nothing more important to the success of the process.
www.chicagobusiness.com/opinion/chic...
www.chicagobusiness.com/opinion/chic...
Opinion: For Chicago, bankruptcy is not the answer
Chicago still has time to voluntarily address its financial issues before ultimately defaulting on its debt, which led to Detroit filing for bankruptcy in 2013.
www.chicagobusiness.com
January 10, 2025 at 5:37 PM
Nothing more politically sensitive in restructuring than establishing a hierarchy of claims. Also nothing more important to the success of the process.
www.chicagobusiness.com/opinion/chic...
www.chicagobusiness.com/opinion/chic...
Reposted by Ayo
2/ This quote from Jim Millstein — the Treasury's chief restructuring officer in the aftermath of the financial crisis — gets at the meat of the issue.
Too often, the ratings agencies are considered as an afterthought, rather than a first-order constraint:
Too often, the ratings agencies are considered as an afterthought, rather than a first-order constraint:
January 2, 2025 at 7:27 PM
2/ This quote from Jim Millstein — the Treasury's chief restructuring officer in the aftermath of the financial crisis — gets at the meat of the issue.
Too often, the ratings agencies are considered as an afterthought, rather than a first-order constraint:
Too often, the ratings agencies are considered as an afterthought, rather than a first-order constraint:
From myself and @stevenkelly49.bsky.social, a policy note on the benefits of early consideration of ratings agency responses during crisis interventions:
som.yale.edu/story/2025/r...
som.yale.edu/story/2025/r...
Ratings Agencies: The Forgotten Constituency of Financial Crisis Interventions
som.yale.edu
January 2, 2025 at 7:37 PM
From myself and @stevenkelly49.bsky.social, a policy note on the benefits of early consideration of ratings agency responses during crisis interventions:
som.yale.edu/story/2025/r...
som.yale.edu/story/2025/r...
Reposted by Ayo
Die Hard is indeed a Christmas movie, but It’s a Wonderful Life is a Financial Stability movie and A Christmas Story is a film about Reflationary Military Keynesianism.
December 21, 2024 at 5:42 PM
Die Hard is indeed a Christmas movie, but It’s a Wonderful Life is a Financial Stability movie and A Christmas Story is a film about Reflationary Military Keynesianism.
Reposted by Ayo
Steven Kelly, Associate Director of Research at Yale Program on Financial Stability, on the Fed portfolio, bills, and matching maturity to outstanding Treasury debt.
Special thanks to Steve for gracing OMFIF with his thoughts and commentary.
www.omfif.org/2024/12/the-...
Special thanks to Steve for gracing OMFIF with his thoughts and commentary.
www.omfif.org/2024/12/the-...
The Fed should stay out of the fight for T-bills - OMFIF
The Federal Reserve has started its rate-cutting cycle, and Wall Street’s consensus is that quantitative tightening will end in March 2025. The Fed will then have to make the critical, if seemingly sl...
www.omfif.org
December 13, 2024 at 3:45 PM
Steven Kelly, Associate Director of Research at Yale Program on Financial Stability, on the Fed portfolio, bills, and matching maturity to outstanding Treasury debt.
Special thanks to Steve for gracing OMFIF with his thoughts and commentary.
www.omfif.org/2024/12/the-...
Special thanks to Steve for gracing OMFIF with his thoughts and commentary.
www.omfif.org/2024/12/the-...
Reposted by Ayo
Somalia and Ethiopia have agreed to work together to resolve their dispute over Somaliland.
Somalia and Ethiopia resolve Somaliland row | Semafor
The new agreement comes even as sources close to US President-elect Donald Trump say his administration is likely to recognize Somaliland’s independence.
www.semafor.com
December 12, 2024 at 5:01 PM
Somalia and Ethiopia have agreed to work together to resolve their dispute over Somaliland.
Reposted by Ayo
If there's one thing Rhode Island loves to do, it's pass unfunded mandates: pass a law, make a policy and don't give anyone any money to make it happen. Spent a couple months reading through the general laws to find these, here's what I found:
ecori.org/im-just-a-bi...
ecori.org/im-just-a-bi...
I’m Just a Bill: Rhode Island Rocks Unfunded Mandates - ecoRI News
Although a law may be created, there's no guarantee that it will be enacted, or funded.
ecori.org
December 10, 2024 at 11:35 PM
If there's one thing Rhode Island loves to do, it's pass unfunded mandates: pass a law, make a policy and don't give anyone any money to make it happen. Spent a couple months reading through the general laws to find these, here's what I found:
ecori.org/im-just-a-bi...
ecori.org/im-just-a-bi...
Reposted by Ayo
This is a huge reason why RI needs lots of housing with easy access to the train to absorb these folks.
This is an underdiscussed aspect of RI's housing crisis: incumbent Rhode Islanders are going to get priced out of the state because the average MA/CT/NY resident has a higher income and can outbid them for RI houses
December 5, 2024 at 8:01 PM
This is a huge reason why RI needs lots of housing with easy access to the train to absorb these folks.
Reposted by Ayo
US Sen. Jack Reed posted this photo noting that his predecessor Claiborne Pell was born 106 years ago today.
Since 1936, just three men have held RI's Class II US Senate seat: Reed, Pell, and T.F. Green.
Since 1936, just three men have held RI's Class II US Senate seat: Reed, Pell, and T.F. Green.
November 22, 2024 at 8:44 PM
US Sen. Jack Reed posted this photo noting that his predecessor Claiborne Pell was born 106 years ago today.
Since 1936, just three men have held RI's Class II US Senate seat: Reed, Pell, and T.F. Green.
Since 1936, just three men have held RI's Class II US Senate seat: Reed, Pell, and T.F. Green.
Reposted by Ayo
NEW: Providence is facing a potential financial crisis after losing a funding battle with the school system.
What's going on and what could it mean for you? Here's my explainer:
www.bostonglobe.com/2024/11/19/m...
What's going on and what could it mean for you? Here's my explainer:
www.bostonglobe.com/2024/11/19/m...
Providence’s latest financial crisis, explained - The Boston Globe
Providence could owe the city school department tens of millions of dollars. How did we get here?
www.bostonglobe.com
November 19, 2024 at 7:04 PM
NEW: Providence is facing a potential financial crisis after losing a funding battle with the school system.
What's going on and what could it mean for you? Here's my explainer:
www.bostonglobe.com/2024/11/19/m...
What's going on and what could it mean for you? Here's my explainer:
www.bostonglobe.com/2024/11/19/m...