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Apr
6

From the NYTimes: Corporate Profits Grow and Wages Slide

Two Important economic details hidden on page B3 of the Saturday NYTimes. Another way the present economy is similar to the Gilded Age and pre-1929. While the American Right may claim that “the government” is too big, the real issue of the day is the return of Laissez-Faire capitalism. 1) CORPORATE profits are at their highest level in at least 85 years. Employee compensation is at the lowest...
Sep
8

Influence of Money Market Funds Ended Overhaul

A failure to responsibly regulate. From the New York Times. The S.E.C.’s proposed changes had the backing of the White House, Treasury officials, the Federal Reserve, the Bank of England, a council of academic experts, The Wall Street Journal’s conservative editorial page, the former Fed chairman Paul Volcker, the former Treasury Secretary Henry M. Paulson Jr. — just about every disinterested party...
Jul
27

Conversation with Kathleen Engel, the “Subprime Virus”

Aired on WAMC, July 26, 2012. Host Alan Chartock is joined by Kathleen Engel, Dean of Intellectual Life at Suffolk University School of Law in Boston. Engel is co-author of “The Subprime Virus.” This interview was taped before a live audience as part of AIER’s Summer Lecture Series. In this talk she discusses who knew what was occurring in the real estate financial market, how only...
May
23

Comment on what drives policy in the U.S.

I posted this remark on a friend’s website when he asked: “Does drug driven medical care harm patients”? I believe a good general rule of thumb for assessing policy in the US, in the post-Milton Friedman era when profit has moved from being a morally neutral motivator to a moral motivator: Most national-level policies, including government programs, are motivated to make specific...
May
21

From the Rolling Stone: Jamie’s Cryin: Dimon, J.P. Morgan Chase Lose $2 Billion

Here’s a relatively short article that explains clearly why we must place good regulations on Wall Street again. Spread the word. Perhaps forward this email. If Americans want their democracy, they are going to have to be a bit more active in paying attention to these sorts of issues. Otherwise, we have things like the Tea Party happen, which is a diversion from the real issue: A return of the...

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