Financial Times (March 15)
Silicon Valley Bank “was conveniently non-significant in life, but became systemically significant in death.” Looking ahead, “regulation of systemically significant banks must be extended throughout the system.” We’re reached a point where “even in a modest crisis deposits cannot be sacrificed, and rules on haircuts for provision of liquidity will go out of the window.” Since they stand “at the heart of the credit system,” banks must be regulated as “wards of the state.”
Tags: Credit system, Crisis, Deposits, Haircuts, Liquidity, Regulation, Rules, Sacrificed, Silicon Valley Bank, Systemically significant
Los Angeles Times (July 8)Los Angeles Times (July 8)
“Life expectancy is 5.5 years lower in northern China than in the south because of heavy air pollution, a study examining 20 years of data concludes…. The specificity of the study published Monday may provide a jolt to policymakers and the public as debate intensifies over how much China has sacrificed to achieve rapid economic growth.” Due to a tradition of coal burning, suspended particulate matter north of the Huai River was on average 55% higher than in the south, lowering life expectancy for those in the north where the researches estimate that in the 1990s alone, the half billion residents “collectively lost 2.5 billion years from their lives.”“Life expectancy is 5.5 years lower in northern China than in the south because of heavy air pollution, a study examining 20 years of data concludes…. The specificity of the study published Monday may provide a jolt to policymakers and the public as debate intensifies over how much China has sacrificed to achieve rapid economic growth.” Due to a tradition of coal burning, suspended particulate matter north of the Huai River was on average 55% higher than in the south, lowering life expectancy for those in the north where the researches estimate that in the 1990s alone, the half billion residents “collectively lost 2.5 billion years from their lives.”
Tags: China, Coal burning, Economic growth, Huai River, Life expectancy, Particulate matter, Policymakers, Pollution, Sacrificed
