Author Archives: Devin Smith

Why Minsky Matters Events

Posted on March 10, 2016 | Comments Off on Why Minsky Matters Events

This weekend: March 11th – 15th 2016, there are events taking place at the Village East Cinemas in New York including a book signing by Randy Wray on the 15th as well as screening of the movie. You can get all the details and list of guest appearances from Village East Cinema’s website here. Flyer for the book signing is after the jump.

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Jamie Galbraith’s Letter to Former CEA Chairs

Posted on February 21, 2016 | 5 comments

Jamie Galbraith has written an excellent letter to the four former Chairs of the Council of Economic Advisers under Clinton and Obama regarding their letter to Professor Gerald Friedman and Senator Bernie Sanders. The full text is below.

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Bank Whistleblowers United Covered in NYT

Posted on February 11, 2016 | 1 comment

The New York Times has taken notice of Bank Whistleblowers United (BWU). You can read it here.

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Bill Black on CCTV America

Posted on February 11, 2016 | Comments Off on Bill Black on CCTV America

Bill appeared on CCTV America discussing the American economy with Rachelle Akuffo. You can view it here.

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Time to Jail the Bankers and Take Back Control over Money

Posted on February 10, 2016 | 10 comments

Randy Wray and Bill Black appear on “Clearing the Fog.” You can listen to the podcast here. Bill, of the newly formed Bank Whistleblowers United, speaks about the plan they have outlined to instill the rule of law on Wall Street and end fraud with the hope of mitigating the effects of the next financial crisis. Randy, an expert in financial instability and macroeconomics, speaks about alternatives to the current financial system that would bring greater stability.

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Hollywood Glorifies Bankers, Ignores Unsung Whistleblowers

Posted on February 10, 2016 | Comments Off on Hollywood Glorifies Bankers, Ignores Unsung Whistleblowers

Bill Black reviews the highlights and holes of the film The Big Short in 2 parts on The Real News. You can view part 1 here and part 2 is here. Both have transcripts.

“Any request for loan level tapes is TOTALLY UNREASONABLE!!! Most investors don’t have it and can’t provide it. [W]e MUST produce a credit estimate. It is your responsibility to provide those credit estimates and your responsibility to devise some method for doing so.” [S&P 2001] [emphasis in original]

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Guest Post: POSITIVE MONEY IN ACTION

Posted on February 6, 2016 | 18 comments

By Geoffrey Gardiner

Jurists have demonstrated that every right must have a corresponding duty, or it is worthless.

The same is true of financial assets: for every creditor there has to be a debtor.

Money is assignable debt. The debt should be negotiable, that is it can be transferred to another owner without reference to the knowledge of the debtor.

There are primary debt and secondary debt. An example of primary debt is when a borrower draws down a bank loan by making a payment to someone. That someone pays the money received into a bank account, thus creating the credit which finances the loan. New money has been created.

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Did Financial Giant Goldman Sachs Just Admit the System is Rigged?

Posted on February 5, 2016 | 1 comment

Bill Black explains why one of world’s largest investment firms Goldman Sachs is questioning the “efficacy of capitalism” and why its CEO is terrified of a Sanders presidency. You can view it here on the Real News (include transcript).

 

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Sanders vs Clinton on Wall St Reform

Posted on February 4, 2016 | Comments Off on Sanders vs Clinton on Wall St Reform

NEP’s Bill Black and Roosevelt Institute Fellow Mike Konczal take on the policies of the two contenders for the Democratic nomination in this appearance of The Real News. Getting the message out about Bank Whistleblowers United! You can view here (includes transcript).

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Reviews of Why Minsky Matters

Posted on February 4, 2016 | Comments Off on Reviews of Why Minsky Matters

Below are links to a couple of reviews of Randy Wray’s latest book – Why Minsky Matters: An introduction to the work of a maverick economist.

What Would Minsky Do Now? A review by Laurence B. Siegel at ValueWalk

A review by William J. Bernstein for CFA Pubs.

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