Notes for this episode:
“Executive perks: the corporate jet files”
[starts at 0:20]
David Crow discusses his new article about the use of corporate jets for personal trips. From the story:
Barry Diller, the billionaire media mogul, has taken more than $12m of personal flights on a company-owned private jet since 2005, the highest total among US executives who access corporate aircraft for fare-free holidays and other non-business trips. …
In 2014, the most recent year for which public filings are available, the bill for Mr Diller’s personal use of corporate aircraft was $1.7m, or roughly $4,500 a day.
The case for nominal GDP targeting
We welcomed economist David Beckworth on the show for the first time. Following on his recent guest post for Alphaville, Beckworth argues that adopting a regime of nominal GDP targeting with a fiscal backstop would be a dramatic improvement on the way central banks currently try to achieve their goals. He also explains his recent op-ed (with Ramesh Ponnuru) blaming the Fed for the severity of the 2008 recession.
IEX vs the exchanges
The SEC must decide whether trading venue IEX, the darling of Michael Lewis’s Flash Boys, can become a stock exchange, with potentially big implications for the future of US market structure. Nicole Bullock tells us about her latest Big Read (with Philip Stafford), which covers the war between IEX and the incumbent exchanges.