No Evidence Justice Department Will Prosecute U.S. Banks Responsible for Financial Crisis
Bill Black is in particularly fine form in this Real News Network video.
Read more...Category Archives: Regulations and regulators
New Zealand: the Shell Company Incorporation Franchises (I)
How New Zealand shell company incorporations help tax evaders and scammers.
Read more...Enron 2.0: Goldman-Linked Investors Set to Manipulate East Coast Electricity Prices
Remarkably, some Goldman alumni look about to re-enact Enron-style energy market price manipulation all along the East Coast. And no one appears to be alert enough to stop them.
Read more...While New Zealand’s Company Law Reform Stalls, GT Group Helps a Thieving Ukrainian Despot
Since the Great New Zealand Shell Company Deregistration Frenzy of 2009-2011, which we rounded up here and here, the New Zealand Government, and the New Zealand Companies Office, have managed to catch a bit of sleep, bless them.
Read more...Bill Moyers: Obama’s Latest Assault on Democracy – Undermining Net Neutrality
Net neutrality is on its way to being executed by the likes of Comcast and Verizon. That will mean the death of the Internet as we know it.
Read more...The Pervasiveness of Health Care Corruption as Shown by Another Roundup of Legal Settlements
Yves here. This post is important, not simply for chronicling health care corruption, but also in demonstrating how, just as in financial services, the individuals responsible are not targeted for fines or prosecution.
Read more...ObamaCare Clusterfuck: “Medical Homelessness” in California
Many of the newly insured under Obamacare are finding they can’t find doctors.
Read more...Bill Black: Since When Does Refusing to Put Fraudulent Banks into Receivership Help the Economy?
Conservative economists love “creative destruction.” They can’t wait to “get their Schumpeter on” when a business fails and thousands of workers lose their jobs.
There is no more “creative destruction” conceivable than when we put a bank that has become a fraudulent enterprise into receivership, remove the controlling officers leading the fraud, and sell the bank through an FDIC-assisted acquisition
Read more...NY Teachers’ Retirement Fund Exhibits Stockholm Syndrome, Rejects Reuters Private Equity FOIA Out of Fear of Annoying Private Equity Funds
It is hard to grasp how successful the private equity industry has been in brainwashing investors to keep information secret.
Read more...GSE Reform Dead for Now
I’m a little surprised at the overly coded reporting at the New York Times and particularly the Wall Street Journal, where Nick Timiraos provides top-notch coverage on the mortgage beat, on the implications of the failure of a widely-touted, Administration-backed GSE reform bill to get out of the Senate Banking Committee. Basically, it confirms what I’ve long believed but refrained from writing about, namely, that government sponsored enterprise, aka, GSE reform, was not going to get done in this session of Congress.
Read more...Bill Black: GAO and Wall Street Journal Whitewash Huge Criminal Bank Frauds
Every day brings multiple new scandals. At least they used to be scandals. Now they’re simply news items strained of ethical content by business journalists who see no evil, hear no evil, and speak not about evil.
Read more...Health Care Information Technology: A Danger to Physicians and to Your Health
The causes of the crapification are legion, but one that is having a bigger impact on health care than is widely recognized is bad information technology implementation. And I don’t mean the healthcare.gov website.
Read more...Abigail Field: The Government Corruption Case Against Fracking and Keystone
The debate on whether to frack or not, whether to build the Keystone pipeline or not, focuses on jobs v. environment. But this conventional framing looks past the fact that there are other ways to create jobs, and even worse, the role of government corruption in covering up the environmental costs.
Read more...Satyajit Das: Flash Boys’ HFT Mumbo Jumbo
Satyajit Das reviews Michael Lewis’ book Flash Boys. Das finds it to be deeply flawed,: deficient in its understanding of HFT and not very well written.
Read more...Volcker Rule: Swiss-Cheesed or Beefed Up?
Gerald Epstein provides an informative, layperson-accessible update on what has become of the much-ballyhooed Volcker Rule.
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