Daily Archives: October 24, 2014

A Moment of Mourning

Fred LeeThe Department of Economics at UMKC lost a member of its family last night. Fred Lee, prolific scholar, humanist, and devoted husband, father and grandfather, spent the last several months battling a startling diagnosis — a non-smoking variety of stage 4 lung cancer. Like the disease itself, Fred was a rare type.  His commitment to the advancement of heterodox economics built an infrastructure of newsletters and list serves to enable this community of scholars to engage and build ties.  He recorded this podcast with me shortly after learning that his diagnosis was terminal.  Fred left an indelible mark on the UMKC Economics Department and on heterodox economics. We will miss him terribly.  ~Stephanie Kelton

*Podcast audio starts garbled but quickly resolves.

Click here to watch Fed’s last lecture in his MA-level Micro theory course. 

Jamie Dimon: U.S. Must Create a “Safe Harbor” Where JPM’s Corruption Is Not “Punished”

By William K. Black

I want to give a hat tip to a recent Wall Street Journal article that brought to my attention two damning admissions by JPMorgan’s (JPM) CEO and Chairman of the Board, Jamie Dimon.  The irony is that Dimon was lulled into making these admissions because he was basking in the perfect calm created by the confluence of Sorkin’s and CNBC’s storied sycophancy at the one place on earth where elite bankers feel most loved, honored, and protected – the annual meeting of the ultra-wealthy in Davos, Switzerland.  Sorkin was the only interviewer, so Dimon faced no risk of tough questions.  It may well have been this perfect setting that caused Dimon to let slip the mask and reveal two illustrative sins of elite bankers reported in the WSJ article.

Continue reading