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From the Maurice R. Greenberg Center for Geoeconomic Studies

April 2012

Beyond the Volcker Rule

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Mike Segar / Reuters


In a new Policy Innovation Memorandum, CFR's Benn Steil argues that the "Volcker rule" misdiagnoses the sources of bank risk to the financial system, and would have done nothing to mitigate the recent crisis had it been in force in 2008. Steil concludes that the troubled effort to implement the rule should be abandoned in favor of controls on bank leverage and elimination of tax incentives for debt-financing. Read the Memo »


The Tax Debate

"Buffett Rule" Is a Sorry Excuse for Tax Reform

Sebastian Mallaby argues that, by focusing on a "Buffett rule," President Obama is squandering his chance to sell voters on meaningful tax reform. Read more »

Aging America Must Rethink Tax Policy

Michael Hodin explains how demographic shifts could soon saddle working-age Americans with an unsustainable tax burden. Read more »

Risky Business

In Defense of Oil Speculators

At, Blake Clayton argues that speculators help energy prices respond to shifts in supply and demand, benefiting producers and consumers alike.
Read the Snapshot »

Milton Friedman Proved Wrong by Aluminum Market

Peter Orszag counters that financial speculators can destabilize commodities prices for brief periods of time. Read more »

Leading the World Bank

Banker, Tailor, Soldier, Spy

Benn Steil's New York Times op-ed reveals the spy-thriller history of America's claim on the World Bank's top job. Read more »

How to Fix the World Bank

Thomas Bollyky writes that the United States should use the controversy over the World Bank's presidential selection process as an impetus to reform the institution. Read more »

Obama’s Blunder at the Bank

Jagdish Bhagwati criticizes President Obama for nominating Jim Yong Kim to the World Bank presidency over candidates who would pursue macroeconomic reforms that promote growth. Read more »



About CGS

The Maurice R. Greenberg Center for Geoeconomic Studies (CGS)
works to promote a better understanding among policymakers, scholars, journalists, and the public about how economic and political forces interact to influence world affairs.

Michael A. Levi
Director of the Maurice R. Greenberg Center for Geoeconomic Studies
Edward Alden
Bernard L. Schwartz Senior Fellow
Thomas J. Bollyky
Senior Fellow for Global Health, Economics, and Development
Blake Clayton
Adjunct Fellow for Energy
Heidi Crebo-Rediker
Senior Fellow
James P. Dougherty
Adjunct Senior Fellow for Business and Foreign Policy
Jennifer Harris
Senior Fellow
Miles Kahler
Senior Fellow for Global Governance
Robert Kahn
Steven A. Tananbaum Senior Fellow for International Economics
Sebastian Mallaby
Paul A. Volcker Senior Fellow for International Economics
Meghan L. O’Sullivan
Adjunct Senior Fellow
Peter R. Orszag
Adjunct Senior Fellow
Varun Sivaram
Matthew J. Slaughter
Adjunct Senior Fellow for Business and Globalization
A. Michael Spence
Distinguished Visiting Fellow
Benn Steil
Senior Fellow and Director of International Economics


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