Celia W. Dugger, a former co-bureau chief for The New York Times in South Asia, says that Indian Prime Minister Atal Bihari Vajpayee’s surprise move to ease tensions with Pakistan— like India, a nucl…

Both the Financial Times (Krishna Guha) and the Wall Street Journal (Greg Ip) ran articles summarizing the papers presented at Jackson Hole.   I liked Guha’s summary more than Ip’s summary, largely b…

I really liked Krishna Guha’s analysis of global imbalances that appeared in Wednesday’s FT.    His emphasis on the role of exchange rate adjustment in global rebalancing seemed right to me.  Exchang…

The process that turned subprime mortgages into triple AAA rated securities is, by now, pretty well known.   Rich Bookstaber (his blog is here) describes the process nicely.Here's the recipe for a CD…

Note: This is Brad Setser, not Michael Pettis.  Mr. Pettis will be doing most of the heavy lifting for the remainder of this week as well.  Last week was rather interesting.  Gisele Bundchen was all…