THOMAS FERGUSON, thomas.ferguson@umb.edu
Ferguson is professor emeritus at the University of Massachusetts Boston, research director at the Institute for New Economic Thinking, and senior fellow at Better Markets.

He said today: “After 2008 the financial system was supposed to be fixed thanks to Dodd-Frank, stress tests, higher capital requirements, etc. Suddenly we wake up to discover that the collapse of a single bank mortally threatens the whole financial system and that authorities are reinstating single payer healthcare for the financial system (only). And this amid news reports that SVB [Silicon Valley Bank] lobbied against regulatory restraints and higher FDIC fees and paid out bonuses just before the takeover. With monetary authorities still climbing uphill in their crusade against inflation, anyone who thinks this is a politically stable outcome is smoking something.”

He is the author or coauthor of many books and articles. Among these are “Myth and Reality in the Great Inflation Debate: Supply Shocks and Wealth Effects in a Multipolar World Economy” with Servaas Storm; and “Bankman-Fried, Political Money, and the Crash of FTX” and “How Much Can the U.S. Congress Resist Political Money? A Quantitative Assessment” with Jie Chen and Paul Jorgensen. The views expressed here are his own and not those of any organization he is affiliated with.