Bill Black: “Liberal” Economists Cheered the New Democrats’ Deregulation of Finance
A case study illustrating how soi-disant liberal economists pushed the US to the right during the Clinton Administration.
Read more...Category Archives: Moral hazard
#panamapapers: Questioning the Picture Painted in the WSJ’s Interview With Jürgen Mossack
A sceptical look at Jürgen Mossack’s WSJ interview
Read more...Mainstream Media Ignores Blockbuster Expose of Massive Bribery in Iraq by Unaoil
Fairfax and Huffington Post have broken a monster story on bribery by Unaoil in Iraq that implicates major multinational corporations and officials all over the Middle East. So why the media blackout?
Read more...Michael Hudson and Chris Hedges: The Real World Cost of Turning Classical Economics Upside Down
Classical economics recognized the costs of rent extraction, excessive borrowing, and encouraging speculation over commerce. Ideologues have turned those lessons on their head.
Read more...Anyone Want to Buy Deutsche Bank?
Some more reasons why Deutsche Bank looks like one to avoid
Read more...The North Korean Connections of US Billionaire Naguib Sawiris and US Defence Company Contrack Watts
US Billionaire Naguib Sawiris and his Contrack Watts, a major US defence contractor, turn out to have ties to North Korea, via an amazingly profitable mobile phone company
Read more...Gauis Publius: Bernie Sanders, Hillary Clinton & America’s Endless War
Does America have the wars it seeks and deserves? And what do Sanders and Clinton say about that?
Read more...Join Occupy the SEC in Urging the Congress to Oppose H.R. 4002 (“Criminal Code Improvement Act of 2015”)!
Support Occupy the SEC in opposing a bill that would give white collar criminals a new, improved “get out of jail free” card.
Read more...Wolf Richter: IBM Discloses SEC Investigation, Plunges to Worst Level since 2010, Even Share Buybacks Don’t Work Anymore
IBM discovers that financial engineering bites back.
Read more...Former California Official Blasts CalPERS CEO Anne Stausboll, Staff, and Board for Misconduct
Former California official Tony Butka He deems Chief Investment Officer, Ted Eliopoulos, the head of private equity, Réal Desorchers, and private equity professional Christine Gogan to have been so dishonest with the board that they all have should have received a notice of intent to discharge.
Read more...CalPERS, an Anatomy of Capture by Private Equity
One of the strongest, most consistent reactions of experts who watched the video of the last meeting of CalPERS’ Investment Committee was that the staff and the Investment Committee members, save JJ Jelincic, were completely captured by the private equity industry.
Read more...“How Complex Systems Fail”
Complex systems are prone to catastrophic failure. Have we come to embrace policies and values that increase the odds of failure?
Read more...A Pragmatic Approach to External Debt: The Write-Down of Germany’s Debts in 1953
Greece’s crisis has invited comparisons to the 1953 London Debt Agreement, which ended a long period of German default on external debt. Unfortunately for Greece, the motivations driving the 1953 agreement are nearly entirely absent today.
Read more...Entering the Nuclear Age, Body by Body The Nagasaki Experience
I felt I had not adequately commemorated the 70th anniversary of the bombing of Hiroshima and Nagasaki, and am putting up this offering to make up for that lapse.
Read more...Libor Trader Sentenced to 14 Years for Market Manipulation. So What About His Bosses?
While it’s gratifying to see former UBS trader Tom Hayes go to jail for large-scale Libor bid rigging, his bosses had to have known what he was up to. So when will we see their indictments?
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