HR 5424, intended to make life even easier for potential securities law abusers, got considerable support from Democrats on the Financial Services Committee.
Read more...American history suggests that inequality is not driven by some fundamental law of capitalist development, but rather by episodic shifts in five basic forces: demography, education policy, trade competition, financial regulation policy, and labour-saving technological change.
Read more...The TPP threatens to undermine public health just as the world is on the verge of major health crises.
Read more...Elizabeth Warren and Mary Jo White cross swords again…but how effective can Warren be after she hitches her star to Clinton?
Read more...Bagehot outlined some of the requirements for global money. Are we closer to a solution?
Read more...The ruling classes in the UK will be highly motivated to try to get the Brexit genie back in the bottle.
Read more...Sadly, mortgage servicers are still very much in the document fabrication and forgery business.
Read more...Another duo of wildly offbeat New Zealand Financial Services Providers
Read more...The threat to the financial system posed by cyber risk is often claimed to be systemic. This column argues against this, pointing out that almost all cyber risk is microprudential. For a cyber attack to lead to a systemic crisis, it would need to be timed impeccably to coincide with other non-cyber events that undermine confidence in the financial system and the authorities. The only actors with enough resources to affect such an event are large sovereign states, and they could likely create the required uncertainty through simpler, financial means.
Read more...Yves here. Steve Waldman wrote a definitive post in 2009, Capital can’t be measured, on a core issue that Black discusses here. A key section: So, for large complex financials, capital cannot be measured precisely enough to distinguish conservatively solvent from insolvent banks, and capital positions are always optimistically padded. Given these facts, and I […]
Read more...Health care corruption is pervasive, yet remains a taboo topic.
Read more...How can bankers be persuaded or coerced into behaving better?
Read more...CalPERS’ inability to get TH Lee to disgorge ill-gotten fees shows how hopelessly one-sided private equity investing really is.
Read more...Yet more strange sightings in the New Zealand Register of Companies
Read more...The SEC finally fined a private equity firm for broker-dealer abuses. Is this just a shot across the bow or will bigger firms pony up too?
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