...told you so

Micco-Panizza (2006) (but written around 2003) “This paper provides evidence for the fact that state-owned banks may play a credit smoothing role. …This suggests that state-owned banks could play a useful role in the transmission of monetary policy”

Oxford Analytica (2008) “Governments in several nations have also aggressively used public sector banks to provide credit and other types of financing to sectors that are particularly vulnerable to the crisis or those that are important for economic growth” Thanks to Arturo Galindo for sending the article.

… and they insulted us when we wrote our series of public bank papers. I don’t know what my noise-to-signal ratio is, but I think that my forecasting ability is improving and I'm still hoping for a crash in the Geneva-region housing market.
-------------------------------------------------
♦DiggIt! ♦Add to del.icio.us ♦Share on Facebook