We’ve written at some length about the failure of the IRS to go after what look like slam-dunk violations of the rules governing the tax treatment of mortgage-backed securities. Apparently the noise has been made about the failure to pursue REMIC violations, the latest by two law professors in a journal article, has roused the IRS from its official somnolence.
Read more...By Lynn Parramore, a contributing editor at Alternet. Cross posted from Alternet
There’s a side of Lincoln that no Hollywood film shows clearly: He was extremely close to the railway barons, the most powerful corporate titans of the era.
Read more...This admission of guilt by Lorraine Brown of Lender Processing Services subsidiary DocX for wire and mail fraud on the federal level and fraudulent and forged document filings in Missouri now allows the Obama Administration to claim it has sent another “executive” to jail.
Read more...By Delusional Economics, who is determined to cleanse the daily flow of vested interests propaganda to produce a balanced counterpoint. Cross posted from MacroBusiness.
Today I thought it was timely to have another look at the Greek economy from a sectoral balance perspective which will hopefully provide some clarity on exactly what we are seeing in Greece, but just as importantly also provide some broader context to the likely outcomes for other Eurozone periphery nations with similar economic dynamics.
Read more...By Lynn Parramore, a contributing editor at Alternet. Cross posted from Alternet
Trying to convince the public to cut America’s best-loved and most successful program requires a lot of creativity and persistence.
Read more...Today, the settlement monitor Joseph Smith released another PR piece, um, progress report.
Read more...Israel v. Palestine: Yet Another Gas War?
Read more...We are two and a half hours away from the end of our fundraiser. In just the last two hours, we’ve gotten quite a few generous donations, as in several $200, $150, and $100 contributions,) as well as a lot of $10 and $25 donations. It’s particularly gratifying to get support from readers we know from comments as well as fellow writers/bloggers (for instance, Susie Madrak gave in the last two hours).
Read more...Yves here. This article points out what others have noted: that Hurricane Sandy has given much more visibility to the dangers of climate change. It’s an environmental version of the old economists’ joke: A recession occurs when your neighbor loses his job. A depression takes place you lose your job. The media and policymakers in large measure live in a bubble centered on New York and Washington DC, and it has taken an event that hit their sheltered world hard to get them to wake up and take notice.
Read more...Only four hours remain in the Naked Capitalism fundraiser. Show your support of critical thinking, merciless evisceration of lame punditry, deep diving into turbid financial waters, and cute animal pictures.
Read more...The Naked Capitalism community has spoken loudly and clearly. You’ve said you want this site to be more effective and you’ve been willing to provide tangible backing for your desire to have us demystify finance, call out chicanery in high places, parse propaganda, and in our small way, help promote the creation of a more just society.
We’re close to both our donor and financial targets.
Read more...Basel III’s getting nowhere in the US.
Read more...
