Monthly Archives: April 2015

We Send Teachers to Prison for Rigging the Numbers, Why Not Bankers?

By William K. Black
Quito: April Fools’ Day 2015

The New York Times ran the story on April Fools’ Day of a jury convicting educators of gaming the test numbers and lying about their actions to investigators.

“ATLANTA — In a dramatic conclusion to what has been described as the largest cheating scandal in the nation’s history, a jury here on Wednesday convicted 11 educators for their roles in a standardized test cheating scandal that tarnished a major school district’s reputation and raised broader questions about the role of high-stakes testing in American schools.

On their eighth day of deliberations, the jurors convicted 11 of the 12 defendants of racketeering, a felony that carries up to 20 years in prison. Many of the defendants — a mixture of Atlanta public school teachers, testing coordinators and administrators — were also convicted of other charges, such as making false statements, that could add years to their sentences.”

This was complicated trial that took six months to present and required eight days of jury deliberations.  It was a major commitment of investigative and prosecutorial resources.  But it was not investigated and prosecuted by the FBI and AUSAs, but by state and local officials.  In addition to the trial success, the prosecutors secured 21 guilty pleas.

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DealBook’s Willful Blindness Exemplified in the Whistleblowing Article’s First Sentence

By William K. Black
Quito: April Fools’ Day 2015

The odious New York Times “brand” (DealBook) managed in its lead sentence to show that how complete its pro-CEO banker bias is and how that bias prevents it from getting even the most basic aspects of our recurrent crises correct.  The April Fools’ Day article is entitled “S.E.C. Fires Warning Shot About Confidentiality Agreements.”

“A sound that delights regulators and strikes fear in corporations — employees’ blowing the whistle on wrongdoing — is poised to become louder.”

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Modern Monetary Theory

Pavlina R. Tcherneva

Pondering here from my academic station
Why has never before such a simple observation
Caused more confusion and consternation
Amongst the general population

That the government is the currency-issuing monopolist
Is not a radical idea, nor a hypothesis
It is a simple, nay, elementary fact
That is often so fervently attacked

IT conjures fears of hyperinflation
The dread of every civilized nation
A crippling phobia that stunts our facilities
To rationally think about the economic possibilities

Pundits, economists, and the average bloke
Firmly believe that the U.S. government is broke
And defend this dreadful and deadly mythology
“There Is NO Alternative,” they say, without an apology

Inequality, retirement insecurity, mass unemployment
Environmental blight, pay gap, and other disappointments
Are no longer problems intractable, alarming and eerie
With a brief introduction to Modern Monetary Theory

©March 31, 2015