Debunking “The Big Short”: How Michael Lewis Turned the Real Villains of the Crisis into Heroes
How Michael Lewis’ The Big Short, whether for profit or by accident, has denied the public the truth about what really causes the crisis.
Read more...Category Archives: Regulations and regulators
Gauis Publius: Making the US a Petro-State – White House Keeps Alive GOP Hopes for Lifting the Oil Export Ban
Why lifting the oil export ban is “appeasement” of Big Oil and needs to be stopped.
Read more...Timothy Geithner Corrupting Youth, Um, Telling His Version of the Crisis
In case living through the crisis and its aftermath wasn’t bad enough, you can hear Timothy Geithner’s version of events…at your expense.
Read more...Michael Hudson: The IMF Changes Its Rules….for Ukraine
The IMF has now been drawn into the U.S. Cold War orbit.
Read more...Even Bank Supporters Arguing for Restoration of Glass Steagall
John Dizard, who perhaps by virtue of being one of the Financial Times’ most original and insightful columnists, is relegated to its weekend “Wealth” section, has written a particularly important pair of articles. Note that Dizard’s ambit is not policy wonkery but apt and often cynical observations about behavior and trading patterns in less visible […]
Read more...Why Paul Krugman Blew It on His ‘Solution’ for Gentrification
One of the fallacies of proposals to limit gentrification is the idea that promoting more development in cities leads to more affordable housing. Stratified markets mean this is not a simply “supply and demand” problem.
Read more...German Financialization and the Eurozone Crisis
German financialization and input on the eurozone’s financial architecture promoted deficits, increased systemic risk, and facilitated the onset of Europe’s subsequent crises.
Read more...“Failed: What the ‘Experts’ Got Wrong about the Global Economy”
An excerpt from CEPR co-director Mark Weisbrot’s important new book, Failed.
Read more...Japan Proves that “Fix Trade” Sales Pitch for TPP, TTIP, and TISA is Wrong
Funny how foreign firms have failed to break into Japan for reasons having nothing to do with regulatory barriers, which calls the logic of “trade” deals like the TPP into question.
Read more...Board Member Reveals That CalPERS Engages in Systematic Violation of California Open Meeting Statutes
CalPERS’ CEO and its staff are engaged in systematic, flagrant, and apparently long-standing violations of California’s open meeting law, the Bagley-Keene Act.
Read more...On the Lack of Courage in Regulators
Robert Jenkins, a former banker, hedge fund manager, and regulator, points out that regulatory reform has fallen short on multiple fronts, and perhaps the most important is courage.
Read more...The GXG Markets Fallout (II): Editwars and FOIA fights
GXG Markets is gone but the dirty dealings continue
Read more...Antitrust Incompetence from the FTC, as Albertson’s/Safeway Divestiture Goes Awry
Over the past several months, I’ve come to the conclusion that so many problems in our politics and our economy results from our tolerance of monopoly capitalism. I did a super-long story for The American Prospect laying this out, and how we need a revival of antitrust policy at the grassroots level. Here’s a depressing case study that suggests maybe we should just relieve one of the antitrust enforcement agencies, the Federal Trade Commission, of its duties.
Read more...Nina Eichacker: Lessons from Iceland’s Financial Crisis
A look at Iceland’s financial crisis, why it happened and what can be done to mitigate the potential for similar chaos in the future.
Read more...Hillary Clinton Appeal to 9/11 to Defend Wall Street Donations Was Bad, But This Was Worse
Hillary Clinton, is taking some heat for oddly deciding to relate her campaign donations from Wall Street to aiding Lower Manhattan after 9/11. This seems to be what the Gang of 500 has decided on as a gaffe, and it definitely has that odor. But I actually think Clinton said something even more egregious and revealing Saturday night. The problem is that the commentariat has deemed it some brilliant insight.
Read more...