Daily Archives: September 12, 2012

Effectiveness of Mortgage Fraud Task Force

Posted on September 12, 2012 by Devin Smith | 1 comment

RT America discusses with William Black just how aggressive the investigation by the President’s Mortgage Fraud Task Force has actually been.

1 Comment

Posted in William K. Black

Tagged banksters, Financial crisis, jail the banksters, liar loans, mortgage fraud

No Plan B?

Posted on September 12, 2012 by Devin Smith | 11 comments

By Joe Firestone

Bob Woodward’s releasing a new book, so we are now seeing articles based on it. A few days back, The Washington Post published the “Inside story of Obama’s struggle to keep Congress from controlling outcome of debt ceiling crisis.” This account is a pretty downbeat one of how our political leaders and President Obama handled the debt ceiling crisis of the summer of 2011. I want to comment on what for me was the most salient point: that during the crisis, the President had no “Plan B” to get around the debt ceiling beyond negotiating a deal with Congress.

Continue reading →

11 Comments

Posted in Joe Firestone

Tagged 14th Amendment, Bob Woodward, CNN, debt ceiling crisis, deficit reduction, deficits, entitlements, grand bargain, Jack Balkin, MMT, modern money theory, national debt, paul jay, PPCS, President Obama, Proof Platinum Coin Seigniorage, Social Security, Trillion Dollar Coin, Yves Smith

Beyond the Morality of Spending and Saving (Money) – Part 1

Posted on September 12, 2012 by Devin Smith | 9 comments

By Michael Hoexter

Readers of this blog will know that the austerity drive is based on faulty macroeconomics and austerity itself is a self-defeating economic strategy. Austerity relies and capitalizes on critical misunderstandings within economics, misunderstandings that were not conclusively and clearly enough debunked by John Maynard Keynes and others 75 years ago and in subsequent years. Continue reading →

9 Comments

Posted in Michael Hoexter

Tagged austerity, neoliberalism, spending, TINA

Florida A&M and the Death of Accountability and Caring

Posted on September 12, 2012 by Devin Smith | 5 comments

By William K. Black

Florida A&M (FAMU) has just filed a legal pleading that exemplifies the moral bankruptcy and the shirking of accountability by elites that has become emblematic of the last ten years. The headline of the LA Times article says it all: “Robert Champion was to blame for his own hazing death, FAMU says.” The context is FAMU’s motion to dismiss the Champion’s parents’ “wrongful death” suit against FAMU. Continue reading →