Perspective on Risk
@perspectiveonrisk.bsky.social
Former senior risk manager and Federal Reserve bank supervisor. I write an occasional piece on https://perspectiveonrisk.substack.com/
There is an argument that he would want to stay to get the “operational frameworks and decision-making processes” review done. The followup to "abundant reserves" is at odds with the Trump "growth" agenda. You may enjoy this.
perspectiveonrisk.substack.com/p/perspectiv...
perspectiveonrisk.substack.com/p/perspectiv...
Perspective on Risk - Jan. 2, 2026 (Some Thoughts To Begin The Year)
The Ghost of Paul Volcker; Financial Stability Reports; Revisiting Zoltan Poszar (yet again); 2025
perspectiveonrisk.substack.com
January 2, 2026 at 9:20 PM
There is an argument that he would want to stay to get the “operational frameworks and decision-making processes” review done. The followup to "abundant reserves" is at odds with the Trump "growth" agenda. You may enjoy this.
perspectiveonrisk.substack.com/p/perspectiv...
perspectiveonrisk.substack.com/p/perspectiv...
He likes to highlight the tests he passes; makes you wonder what he has failed.
January 2, 2026 at 3:54 PM
He likes to highlight the tests he passes; makes you wonder what he has failed.
And the Finns would like it. Sisu for the win.
January 1, 2026 at 9:23 PM
And the Finns would like it. Sisu for the win.
1) Volcker broke inflation by fixing reserves and letting rates float. “Abundant reserves” stopped deflation by making reserves irrelevant. What comes next?
2) and how does
It intersect with the Trump agenda?
2) and how does
It intersect with the Trump agenda?
January 1, 2026 at 1:49 PM
1) Volcker broke inflation by fixing reserves and letting rates float. “Abundant reserves” stopped deflation by making reserves irrelevant. What comes next?
2) and how does
It intersect with the Trump agenda?
2) and how does
It intersect with the Trump agenda?
Lingus, by Snarky
puppy
puppy
December 29, 2025 at 7:34 PM
Lingus, by Snarky
puppy
puppy
So that is probably correct, but it is possible to take other steps that achieve the same goal: enhanced disclosure, shareholder consent, narrowly defining “coordination”, taxation.
December 29, 2025 at 1:04 AM
So that is probably correct, but it is possible to take other steps that achieve the same goal: enhanced disclosure, shareholder consent, narrowly defining “coordination”, taxation.
That’s quite defeatist. Gotta start somewhere, CU is a better place than many others. As an economist, you know that adding frictions will decrease activity.
December 28, 2025 at 10:38 PM
That’s quite defeatist. Gotta start somewhere, CU is a better place than many others. As an economist, you know that adding frictions will decrease activity.
Poor incentives for Adams to give a damn. Is he even in NYC right now?
December 26, 2025 at 1:36 PM
Poor incentives for Adams to give a damn. Is he even in NYC right now?
5. The Revival of "Schedule F" and the Civil Service Purge
6. The "Unitary Executive" Assault on Independent Agencies
7. The Challenge to Birthright Citizenship
8. Politicization of the Justice Department
6. The "Unitary Executive" Assault on Independent Agencies
7. The Challenge to Birthright Citizenship
8. Politicization of the Justice Department
December 23, 2025 at 3:03 PM
5. The Revival of "Schedule F" and the Civil Service Purge
6. The "Unitary Executive" Assault on Independent Agencies
7. The Challenge to Birthright Citizenship
8. Politicization of the Justice Department
6. The "Unitary Executive" Assault on Independent Agencies
7. The Challenge to Birthright Citizenship
8. Politicization of the Justice Department
In the tradition of Festivus, I am airing these grievances:
1. Congress Has Abdicated Its Oversight Function
2. The Executive Has Usurped the "Power of the Purse"
3. Trump Has Deployed the National Guard for Dom. Enforcement
4. Trump Has Target” Enemy" Institutions and Private Firms
1. Congress Has Abdicated Its Oversight Function
2. The Executive Has Usurped the "Power of the Purse"
3. Trump Has Deployed the National Guard for Dom. Enforcement
4. Trump Has Target” Enemy" Institutions and Private Firms
December 23, 2025 at 3:03 PM
In the tradition of Festivus, I am airing these grievances:
1. Congress Has Abdicated Its Oversight Function
2. The Executive Has Usurped the "Power of the Purse"
3. Trump Has Deployed the National Guard for Dom. Enforcement
4. Trump Has Target” Enemy" Institutions and Private Firms
1. Congress Has Abdicated Its Oversight Function
2. The Executive Has Usurped the "Power of the Purse"
3. Trump Has Deployed the National Guard for Dom. Enforcement
4. Trump Has Target” Enemy" Institutions and Private Firms
But isn’t everything a financial these days!
December 22, 2025 at 9:22 PM
But isn’t everything a financial these days!
God no. Let’s go back to a once a day Dutch auction
December 20, 2025 at 6:21 PM
God no. Let’s go back to a once a day Dutch auction
The Donald Trump ... Memorial Center?
Is he dead yet?
Is he dead yet?
December 19, 2025 at 8:14 PM
The Donald Trump ... Memorial Center?
Is he dead yet?
Is he dead yet?
Leave the gun. Take the cannoli.
December 19, 2025 at 3:19 PM
Leave the gun. Take the cannoli.
Godfather.
“Friendship is everything. Friendship is more than talent. It is more than the government.”
“Women and children can afford to be careless, but not men.”
“Never hate your enemies. It affects your judgment.”
“Leave the gun. Take the cannoli”
“Friendship is everything. Friendship is more than talent. It is more than the government.”
“Women and children can afford to be careless, but not men.”
“Never hate your enemies. It affects your judgment.”
“Leave the gun. Take the cannoli”
December 19, 2025 at 3:19 PM
Godfather.
“Friendship is everything. Friendship is more than talent. It is more than the government.”
“Women and children can afford to be careless, but not men.”
“Never hate your enemies. It affects your judgment.”
“Leave the gun. Take the cannoli”
“Friendship is everything. Friendship is more than talent. It is more than the government.”
“Women and children can afford to be careless, but not men.”
“Never hate your enemies. It affects your judgment.”
“Leave the gun. Take the cannoli”
Godfather.
“Friendship is everything. Friendship is more than talent. It is more than the government.”
“Women and children can afford to be careless, but not men.”
“Never hate your enemies. It affects your judgment.”
“Leave the gun. Take the cannoli”
“Friendship is everything. Friendship is more than talent. It is more than the government.”
“Women and children can afford to be careless, but not men.”
“Never hate your enemies. It affects your judgment.”
“Leave the gun. Take the cannoli”
December 19, 2025 at 3:18 PM
Godfather.
“Friendship is everything. Friendship is more than talent. It is more than the government.”
“Women and children can afford to be careless, but not men.”
“Never hate your enemies. It affects your judgment.”
“Leave the gun. Take the cannoli”
“Friendship is everything. Friendship is more than talent. It is more than the government.”
“Women and children can afford to be careless, but not men.”
“Never hate your enemies. It affects your judgment.”
“Leave the gun. Take the cannoli”
Bill, you may be interested in the attached. open.substack.com/pub/perspect...
Perspective on Risk - Dec. 11 2025 (1920s/2025)
Sorkin's 1929, and Parallels & Differences to the 1920s
open.substack.com
December 18, 2025 at 12:27 AM
Bill, you may be interested in the attached. open.substack.com/pub/perspect...
Oh come on, this has been blatant and transparently polanned from the beginning. When the files drop, the bombs drop.
December 17, 2025 at 9:37 PM
Oh come on, this has been blatant and transparently polanned from the beginning. When the files drop, the bombs drop.