Date: 2024-09-27 Page is: DBtxt003.php txt00013341
Economic Performance
2008 Financial Crisis
The real truth about the 2008 financial crisis | Brian S. Wesbury | TEDxCountyLineRoad
Burgess COMMENTARY
My first impression of this talk was that the speaker was going to make the case for banks and bankers being essentially blameless for the financial crisis of 2008, and to some extent he did. I thought his interpretation of the Bernanke decisions and TARP were incorrect insofar as he completely discounted the role of momentum in etermining economic performance, but I thought that his appreciation of the role of 'mark to market' in accounting for banking performance was very valuable and should be way better understood than it is.
Peter Burgess
The real truth about the 2008 financial crisis | Brian S. Wesbury | TEDxCountyLineRoad
https://youtu.be/RrFSO62p0jk
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Published on Dec 3, 2014
This talk was given at a local TEDx event, produced independently of the TED Conferences. The Great Economic Myth of 2008, challenging the accounting to accounting principal.
Brian Wesbury is Chief Economist at First Trust Advisors L.P., a financial services firm based in Wheaton, Illinois.
Mr. Wesbury has been a member of the Academic Advisory Council of the Federal Reserve Bank of Chicago since 1999. In 2012, he was named a Fellow of the George W. Bush Presidential Center in Dallas, TX where he works closely with its 4%-Growth Project. His writing appears in various magazines, newspapers and blogs, and he appears regularly on Fox, Bloomberg, CNBCand BNN Canada TV. In 1995 and 1996, he served as Chief Economist for the Joint Economic Committee of the U.S. Congress. The Wall Street Journal ranked Mr. Wesbury the nation’s #1 U.S. economic forecaster in 2001, and USA Today ranked him as one of the nation’s top 10 forecasters in 2004. Mr. Wesbury began his career in 1982 at the Harris Bank in Chicago. Former positions include Vice President and Economist for the Chicago Corporation and Senior Vice President and Chief Economist for Griffin, Kubik, Stephens, & Thompson. Mr. Wesbury received an M.B.A. from Northwestern University’s Kellogg Graduate School of Management, and a B.A. in Economics from the University of Montana. McGraw-Hill published his first book, The New Era of Wealth, in October 1999. His most recent book, It’s Not As Bad As You Think, was published in November 2009 by John Wiley & Sons. In 2011, Mr. Wesbury received the University of Montana’s Distinguished Alumni Award. This award honors outstanding alumni who have “brought honor to the University, the state or the nation.” There have been 267 recipients of this award out of a potential pool of 91,000 graduates.
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