Category Archives: Moral hazard

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.

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?

Bill Black: Thomas Friedman Wants A “Center-Left” Democratic Party Based on Austrian Economic Myths

Thomas Friedman has managed to outdo himself on the downside.

Study: Top Bank Execs Saw the Crisis Coming and Sold Their Company’s Shares

So much for the “whcouddanode” theory of the crisis.

Bill Black: The Terrible Cost to Democrats and Our Nation of Ignoring Tom Frank’s Warnings

A high level description of how Democrats and Labor sold out the working class, and how that served a narrow interests at great cost.

MIchael Hudson: The Slow Crash

Michael Hudson discusses some of his favorite themes; debt deflation, the high cost of consumer debt, negative interest rates.

Brexit Risk and Nigel Farage: We Know Where His Mouth is (“England”), But is His Money Offshore?

Is Nigel Farage’s wealth offshore? Is that why he’s so calm about Brexit?

Robert Reich: Why Is One of Sanders’ Most Important Proposals Being Ignored?

Sanders’ financial transactions tax plan hasn’t gotten the hearing it deserves.

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.

#panamapapers: Questioning the Picture Painted in the WSJ’s Interview With Jürgen Mossack

A sceptical look at Jürgen Mossack’s WSJ interview

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?

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.

Anyone Want to Buy Deutsche Bank?

Some more reasons why Deutsche Bank looks like one to avoid

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