Editor's Note: This is a monthly publication on economic trends and financial policy issues. In this publication you can read "The Longbrake Letter", an analysis of economic trends and conditions written by Bill Longbrake, as well as commentary on financial regulation and policy written by members of the law firm Barnett, Sivon & Natter, P.C., a Washington, DC based law firm that specializes in financial services law. The lawyers in the firm are also counsel to the international law firm, Squire Patton Boggs.

ISSUE: #66, January 2016

The Longbrake Letter
- Bill Longbrake
Markets began 2016 with a massive anxiety attack about the threat of a collapse in global growth. In this month’s letter Bill Longbrake explores whether recent developments are a forerunner of worse to come, including a U.S. recession? Or, is the market overreacting to “temporary” shocks? Part of the difficulty in assessing prospects has to do with the unprecedented and aggressive monetary policy intervention of central banks in all major developed economies to force down interest rates in an attempt to stimulate demand and increase inflation. Academic theories are supportive of these policies. But, the theories may turn out to be deeply flawed or flat out misguided. It’s a huge bet! The consequences could be quite dire, if the bet turns sour.

The Longbrake Letter - Reprise of Key Topics and Commentary Included in 2015 Letters
- Bill Longbrake
In this month’s letter Bill Longbrake extracts discussions of major topics that were included in various 2015 letters. These discussions explained and examined deep-seated trends which continue to evolve and shape global economies, markets, social systems and political governance. He provides additional commentary and updates on each topic, which are identified in bold italicized print. Developments in the United States receive the most attention, but because we are increasingly interconnected globally what occurs elsewhere has impacts on what happens in the United States.

Questions to Which Answers Would be Useful
- Bob Barnett
In the midst of promulgating and implementing new rules, a number of questions have been left unanswered, yet the answers are crucial. Here are a few of such questions.

Reinstate the Glass Steagall Act?
- Jim Sivon
It seems like every week brings another call to reinstate the Glass Steagall Act. This article provides some background on the Act, the amendments to the Act made by the Gramm Leach Bliley Act, and related provisions in the Dodd-Frank Act. This article suggests that the current reinstatement debate is disconnected from the facts. Yet, as a friend of mine recently stated, that is beside the point.

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