Yearly Archives: 2012

Florida A&M and the Death of Accountability and Caring

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

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 →

5 Comments

Posted in William K. Black

Tagged accountability, moral bankruptcy

William Black appears on The People & Power show

Posted on September 11, 2012 by Devin Smith | 2 comments

William Black appears on The People & Power in segment titled “Prosecuting Wall Street”. The episode concerns failure in the U.S. to prosecute in relation to the financial crisis. It airs beginning on 9/12 on Al Jazeera English (Time Warner channel 92 in NY and Comcast channel 275 in D.C.).

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2 Comments

Posted in William K. Black

The Unanimous Declaration of the Keynesian Coalition

Posted on September 11, 2012 by Devin Smith | 13 comments

By Tyler Healey

IN AMERICA, September, 2012

When in the Course of human events, it becomes necessary for one school of economic thought to dissolve the bands which have connected it with others, and to assume among the powers of the earth, the separate and superior station to which the Laws of Science entitle it, a decent respect to the opinions of humankind requires that the members of their school should declare the causes which impel the separation.

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13 Comments

Posted in Uncategorized

Tagged keynesians

Washington Post and the AIG Bailout

Posted on September 10, 2012 by Devin Smith | Comments Off

The Washington Post (9/10) published an article on the the “success” of the AIG bailout. NEP’s William Black explains the issue of perverse incentives created by the successful bailout.

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Posted in William K. Black

Tagged AIG, crony capitalism, Financial crisis, perverse incentives

Too Big To Jail

Posted on September 10, 2012 by Devin Smith | Comments Off

In a recent article (9/8) at Huffington Post, NEP’s William Black provides support as to why Wall Street executives should face criminal charges relating to the financial crisis.

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Posted in William K. Black

Tagged accounting control fraud, criminogenic, Great Financial Crisis

European views on financial regulation (and other American evils)

Posted on September 10, 2012 by Devin Smith | 5 comments

By William K. Black
(Cross posted at Benzinga.com)

I was invited back to the give the welcoming keynote address last week to the 33rd SFOA International Bürgenstock Meeting. SFOA is an acronym for the Swiss Futures and Option Association and their meeting (long held at Bürgenstock, Switzerland but now at Interlaken) is the preeminent meeting in Europe on financial derivatives. The meeting attracts industry participants, regulators, and academics from all over the world. I’m writing from the Munich airport, where I get to wait overnight for a flight back to the U.S.

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5 Comments

Posted in William K. Black

Tagged Control Fraud, gresham's dynamic, Subprime mortgage crisis

“We” Don’t Owe $16 Trillion; and You Don’t Owe $50,000

Posted on September 9, 2012 by Devin Smith | 25 comments

By Joe Firestone

Just saw John Sununu, one of Republicans favorite Bushie junk yard attack dogs all up in arms about the debt subject to the limit (the so-called national debt) reaching $16 Trillion dollars, and going on to tell people that every man, woman, and child in the United States now owes $50,000 to pay that debt off. Now, I’m here to tell you that all that is bull shit.

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25 Comments

Posted in Joe Firestone

Tagged coin seigniorage, John Sununu, MMT, national debt, PPCS

No, Barack, It Just Ain’t Gonna Happen!

Posted on September 9, 2012 by Devin Smith | 13 comments

By Joe Firestone

Who else thinks the President’s speech didn’t include any plans to create the 29 million full-time jobs for the dis-employed? Please raise your hand!

About jobs he said:

”We can help big factories and small businesses double their exports, and if we choose this path, we can create a million new manufacturing jobs in the next four years.” Continue reading →

13 Comments

Posted in Joe Firestone

Tagged Bill Mitchell, debt-to-GDP ratio, deficit reduction, deficits, Digby, entitlements, grand bargain, MMT, modern money theory, national debt, paul krugman, President Obama, sectoral financial balances model, Social Security

Preview of Modern Money and Public Purpose

Posted on September 8, 2012 by Devin Smith | 11 comments

Modern Money and Public Purpose is an eight-part, interdisciplinary seminar series held at Columbia Law School over the 2012-2013 academic year. The series aims to present new perspectives and progressive policy proposals on a range of contemporary issues facing the U.S. and global macroeconomy.

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