The legal culture of big-time settlements can short-circuit the law, protecting wrongdoers from punishment, trial or even an admission of guilt. That’s just what the government has done for the major banks implicated in sweeping mortgage fraud. Is it too late to rectify the big banks role in the housing and financial crisis? Bill and other panelists speak with Alyona Minkovski on this subject.
Listen to Our Podcast- Randy Wray on Krugman and the Frustration of the Heterodox April 28, 2014
- Fred Lee Talks About his Contributions to Heterodox Economics April 18, 2014
- Feb. 27 Podcast with Randy Wray February 27, 2014
- Bill Black and Randy Wray October 21, 2013
- Political Theatre and the Government Shutdown October 2, 2013
- Randy Wray: The Taper, the Debt Ceiling and the Prospects for Growth September 23, 2013
- Stephanie Kelton Talks with Warren Mosler September 4, 2013
Recommended Reading
Click images to view details
Subscribe
I am appalled by HuffPo’s reaction: Laugh and say what can we do?
We all know it’s happening. Viewers can’t do anything; people in rural America and middle-class urban America can’t do anything. HuffPo can. Why isn’t it highlighting this? Why isn’t it creating a movement to make this known, and taking the people in power to task. Where are the Greenwalds at Huffington Post? Making up those jejune inaccurate headlines?
All HuffPo is doing is filling air. Nothing more. And Arianna Huffington is only concerned about the trolls HuffPo has to contend with, so she is outlawing anonymity, since as a good Greek-born citizen she is unaware of the poet of anonymity in this country protected by the First Amendment.
poet of anonymity ??? Hunh? My autocorrect acting up again? It should read power of anonymity.
Perhaps we could solve the incentives problem by sharing large amounts of money clawed back from the elite fraudsters with the government workers who manage to claw the money back.
Of course we have seen how such incentives get perverted by giving money confiscated from people who are suspected might be drug traffickers even when no charges are ever brought. So I guess the stipulation be that the money has to be clawed back in a trial that is open to the public. No money is awarded for plea bargains.
Maybe another proviso is that money stolen by informers who get immunity for testifying is subtracted be subtracted from the government employee’s share, not just from the total settlement upon which that share is based.
Imagine the turmoil in the executive offices if such legislation is even talked about being proposed.