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Sunday, April 20, 2014

Abigail Field: Our Corrupt Tax Code

ur nation’s tax code reflects our corrupt politics. The code contains many provisions that benefit our wealthiest, most powerful companies and people while hurting the rest of us.

Paul Krugman Discusses Piketty’s Capital and the Rise of Inherited Wealth on Bill Moyers

Paul Krugman discusses Thomas Piketty’s new book, Capital in the Twenty-First Century, on Bill Moyers’ show.

Links 4/19/14

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Please Join Us at Our NYC Meetup Next Friday, April 25

I hope readers in New York will be able to join us at an informal gathering next Friday, April 25, from 5 PM to 8 PM.

Yanis Varoufakis on the “Success” of Greece’s Bond Sale

Yves here. The RT show Boom/Bust has an informative conversation with Yanis Varoufakis on the conundrum of the recent successful Greece bond offering.

Joe Firestone: Using Generational Warfare to Divert Attention from Oligarchy and Corporatism

Some of the favored children of the economic elite who have a public presence, work hard in their writing and speaking to divert attention from inequality and oligarchy issues by raising the issue of competition between seniors and millennials for “scarce” Federal funds.

Links 4/18/14

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More From Ex-SEC Lawyer James Kidney on the Agency’s Failing

Former SEC enforcement lawyer James Kidney discusses the agency’s shortcomings and suggests reforms.

Did Derivatives Worsen the Eurozone Sovereign Debt Crisis?

Yves here. This post summarizes a paper that argues that derivatives, specifically credit default swaps, exacerbated the severity of the European sovereign debt tsuris. This sort of analysis deserves a wider audience, precisely because the prejudice of both neoclassical and neoliberal economists is that markets are ever and always virtuous, and that prices are never wrong unless someone is interfering (with labor unions the preferred bad example).

General Mills Retreats an Inch on Its Mandatory Arbitration Overreach

Law Professor Adam Levitin argued that we peons should make counterclaims against General Mills’ overreaching arbitration policy.

Ukraine: Is Obama Channeling Cheney?

In this Real News Network report, Michael Hudson discusses the news blackout in the US as far as critical developments in the Ukraine are concerned, and how the distortions and gaps in reporting exceed those in the runup to the Iraq War.

Links 4/17/14

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General Mills Opens New Frontier in Denying Consumers Right to Sue: Just Use Its Products

To enable it to continue to engage in misleading labeling and advertising, General Mills claims that anyone who buys its products or even merely is dumb enough to like it on Facebook has consented to arbitration.

Quelle Surprise! Ginnie Mae Says Bank of America Has Lots of Servicing Documents Missing; MERS Also in Hot Water

An article by Kate Berry in American Banker earlier this week hasn’t gotten the attention it deserves. Anyone who was paying attention to the mortgage beat in 2010 through 2012 knew that mortgage securitization originators and servicers were playing fast and loose with critical documents like mortgage notes because they couldn’t be bothered to observe […]

When Will Big Business Figure Out That the Education-Industrial Complex is Eating its Lunch?

Yves here. This post points out how parochial Corporate America has become in its looting. Look at how some not-very-large changes in approach would leave those fat cats much better off! And they wouldn’t be so terrible for the rest of us either.