PG&E Could Face Murder Charges for California’s Wildfires
Will PG&E finally get its just deserts? And even if that were to happen, what would that look like?
Read more...Category Archives: Moral hazard
Stumped by the Stock Market Slump? Start by Picturing a Used Car Dealership
Trading stocks can be a lot like buying a used car.
Read more...George Herbert Walker Bush and the Myth of the ‘Good’ Gulf War
Correcting revisionist history about Bush the Senior and the first Gulf War.
Read more...The Global Financial Crime Wave Is No Accident
Financial crime is a feature of our global financial system not a bug, pioneering economist Susan Strange recognized.
Read more...Michael Hudson: “Moral Hazard” vs Mutual Aid – How the Bronze Age Saved Itself from Debt Serfdom
Bronze Age societies forgave agricultural debt to keep cultivators working on their land, able to pay taxes and work in the military and on public projects. Lenders were seen as greedy and exploitative.
Read more...How Private Equity Bankrupted Seven Major Grocery Chains for Fun and Profit
Grocery chains as yet another example of private equity looting, and what policymakers should do to stop that.
Read more...Rethinking AI Through the Politics of 1968
All the initiatives that want to make AI ethical seem to think it’s about adding something i.e. ethics, instead of about revealing the value-laden-ness at every level of computation, right down to the mathematics.
Read more...Why Dodd-Frank Is a Protection Racket for Banks
How Dodd-Frank left banks’ massive lending and safety-net subsidies intact.
Read more...How CalPERS CEO Marcie Frost’s Efforts to Organize Astroturf Support Are Compromising Her
If she succeeds, the survival efforts of CalPERS CEO Marcie Frost will come at a cost to the giant pension fund.
Read more...Post Crisis Measures Have Failed to Tame Derivatives Risks
Derivatives remain an untamed systemic risk.
Read more...Double Whammy: Implicit Subsidies and the Great Financial Crisis
Follow the subsidies, and you will understand why we had the crisis and why not enough has been done to prevent a recurrence.
Read more...Revolving Doors and Regulatory Capture
Looking at the costs of and some possible responses to regulatory capture.
Read more...Tom Engelhardt: America’s Groundhog Day Wars
A look at how long and how deeply the US has been mired in its many wars.
Read more...Michael Olenick: Update Confirms That Share Buybacks Are Still Corporate Suicide
Reconfirming the findings of a study that debunked some key claims about the supposed benefit of stock buybacks.
Read more...Richard Murphy: Stock Markets Look Ever More Like Ponzi Schemes
Why is it entirely sensible to regard stock markets as Ponzi schemes.
Read more...