Daily Archives: September 11, 2015

MMT In Spain

To update our Spanish friends:

In an effort to bring MMT into the political debate in Spain, APEEP will be hosting Warren Mosler for his presentation of the Spanish translation of his  book “The Seven Deadly Innocent Frauds of Economic Policy” during a one-week tour through Spain, starting with a presentation in Madrid, on the 14th of September; Valencia on the 15th of September; and Vila-real on the 17th of September.

Continue reading

More on the DOJ’s Prosecution Policy

William D. Cohan in the later part of his post “Justice Dept. Shift on White-Collar Crime Is Long Overdue” over at NYT extensively presents and supports NEP’s Bill Black’s views from Bill’s recent post “Now the DOJ Admits They Got it Wrong“.

DOJ’s Rules for Wall Street Are Nothing New

David Cay Johnston, Brandon Garrett and NEP’s Bill Black appear on HuffPostLive discussing DOJ’s rules for Wall Street. You can view it here.

 

Now the DOJ Admits They Got it Wrong

William K. Black

September 10, 2015

By issuing its new memorandum the Justice Department is tacitly admitting that its experiment in refusing to prosecute the senior bankers that led the fraud epidemics that caused our economic crisis failed. The result was the death of accountability, of justice, and of deterrence. The result was a wave of recidivism in which elite bankers continued to defraud the public after promising to cease their crimes. The new Justice Department policy, correctly, restores the Department’s publicly stated policy in Spring 2009. Attorney General Holder and then U.S. Attorney Loretta Lynch ignored that policy emphasizing the need to prosecute elite white-collar criminals and refused to prosecute the senior bankers who led the fraud epidemics.

Continue reading