To ensure public acceptability, some benefits accrue to many in the early stages of privatization in order to minimize public resistance. However, in the longer term, privatization tends to enrich a few but typically fails to deliver on its ostensible aims.
Read more...Quelle surprise! A one-time tax break for US companies to repatriate offshore profits didn’t stop the gaming, nor did it generate more investment.
Read more...At a G20 preparatory meeting, an INET panel analyzed how governments can prevent banks from exploiting taxpayer-funded bailout guarantees. The panelists didn’t mince words.
Read more...An important Wall Street Journal story digs into how Rick Singer created his college entrance cheating empire.
Read more...Yves here. This post presents a classic example of why medical care in America sucks. It’s too much about billing and not enough about patient care. I know patients who can have a yearly visit to an MD covered under their plan as either a physical or a medium complexity visit for conditions for which […]
Read more...Spoiler alert: No.
Read more...Why you should not bank at TD Bank.
Read more...Another UK outsourcing implosion in just over a year….what gives?
Read more...As important stakeholders sound alarms, more evidence that CalPERS can’t make an honest case for its “new” private equity scheme and is calling in chips in a big way to cover for that.
Read more...The latest installment in Justin Mikulka’s excellent series on fracking. The industry continues to promote new and improved saviors – this time, it’s Microsoft – to rescue it from an inconvenient truth: no one’s making any money, despite the high environmental costs incurred.
Read more...CalPERS still can’t justify its new private equity business model, and has even retreated to calling it just a concept, yet it wants the board to sign a blank check at next week’s meeting.
Read more...Bill Black analyzes Brad DeLong’s concession that neoliberals should get out of the way and let the left lead since their coalition with Republicans did not work.
Read more...Why inherent problems with cryptocurrency liquidity are already leading to consideration of other methods for validating blockchain updates. They are likely to prove unsatisfactory and therefore call for verification by a trusted institution….defeating the rationale for cryptocurrencies.
Read more...Lyft’s prospectus doesn’t even pretend that the company might become profitable, let alone justify a $20-25 billion valuation.
Read more...Frost’s justifications for CalPERS new private equity scheme becomes more incoherent as time goes on, but that is unlikely to prevent the captured board from giving it a green light.
Read more...