Weekend Must Reads
Posted by on April 20, 2013

WSJ-MarketWatchHow Thatcher would have fixed the financial crisis

She ignored conventional wisdom, acted on her beliefs

UK Telegraph: The IMF is flunking the financial crisis

By turning its fire on Britain, the IMF gives the impression it is out of ideas and solutions

Financial Times: Wake up to the #Twitter effect on markets

Investors need to spend more time thinking about the way social media can affect financial markets

Reuters: New regulations require cleaner data

Continuing efforts by financial regulators and by firms themselves to monitor and offset risk have affected almost all areas of firms’ operations, including the management and maintenance of data. The overhaul of global systems following the financial crisis has led to an audit of data, and specifically of the information which firms hold about themselves and their counterparties or clients, known as business entity reference data.

Heritage: Eight Steps to Eliminate Fannie Mae and Freddie Mac—Permanently

It is time to close both Fannie Mae and Freddie Mac—the government-sponsored mortgage giants. Both entities distort the country’s housing finance market by issuing mortgage-backed securities with subsidized government guarantees that the mortgages will be repaid. If guarantees are necessary, they should be priced and issued by the private sector, not by the state. Financial institutions expert David C. John details specific steps to achieve this shutdown carefully and methodically without further upsetting the delicate housing market—and without making the situation worse.

Heritage: Promoting Economic Freedom Key to Realizing World Bank’s Mission 
As the largest shareholder at the World Bank, the United States should play a proactive role in helping improve the effectiveness of its development practices. Although the executive branch has the key role in representing U.S. interests in the bank, Congress can exercise influence through oversight and control over the bank’s funding process to encourage changes in policies or procedures.

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