Quelle Surprise! Pollution Pays!
A study of DuPont’s failure to clean up emissions of a toxic chemical shows pollution is economical rational. Too bad the remedies are lame.
Read more...Category Archives: Moral hazard
Does Catalonia Have a Right to Secede?
Why the question of secession for Catalonia, or Scotland, or Quebec, isn’t easy to decide, practically and morally.
Read more...How Economists Turned Corporations into Predators
How shareholder value theory and other bad ideas created lousy incentives for corporations’ executives.
Read more...How US Regulators Created the Equifax Mess
How regulators made credit bureaus like Equifax powerful, and why banks could live without them if they needed to.
Read more...Quelle Surprise! Financial Firm Fines Are Way Down Under Trump
The latest sighting on how financial firms are getting off easy, yet have the bad taste to complain about their paltry punishments.
Read more...What the US “Health Care Reform” Debate Did Not Address
A sobering compendium of the factors responsible for the rot in the US health care system.
Read more...How CalPERS General Counsel Matt Jacobs Violated California Bar Rules
In other CalPERS posts today, we discuss the legal and IT implications of the fact that Christopher Philips, a member of CalPERS’ legal department, posted comments seeking to undermine our credibility and that of board member JJ Jelincic. We explain how Phillips violated California bar rules. As a result of examining California State Bar Act […]
Read more...Michael Hudson: Why Failing to Solve Personal Debt and Polarization Will Usher in a New Dark Age
Crushing personal debt loads have repeatedly produced economic and social crises. The elites ignore the warning signs at their peril.
Read more...Johnson: Elites Eying the Exits Signals America’s Crisis
The elites think they can hide from the pending collapse of civilization.
Read more...How Experts Enable Corruption: The Role of Conflicted Lawyers at CalPERS and Other Public Pension Funds
As Trump is about to be sworn in, the press and pundits are agog about his and his fellow Cabinet members’ deep and extensive conflicts of interest, and how dangerous they is for democracy.1 But the hue and cry about conflicts of interest is late in coming. They’ve been tolerated more and more over time […]
Read more...A Moral Challenge to Economists
Economists hide behind specious claims of neutrality and efficiency to advocate policies that often have negative moral and social impact.
Read more...Bill Black: Bank of England Says Authorities Mustn’t Fine Banks Because Groaf
The Bank of England offers an easily-debunked defense of predatory and fraudulent lending.
Read more...When Bank Boards Get Too Cozy, Expect Misconduct
Why regulators and investors need better measures of the connections between bank executives and their boards.
Read more...Hoisted From Comments: First Cut at Perps in Massive Wells Fargo Consumer Fraud
More evidence that regulators had no excuse for not naming, shaming, and at least fining key Wells Fargo execs in its massive consumer fraud.
Read more...Gaius Publius: “You Broke It, You Bought It” – A Sanders Activist Challenges Clinton Supporters
Clinton’s hard move to the right is causing some consternation among bona fide progressives. But what will they do about it?
Read more...