By Janet Tavakoli
When performing due diligence, investors consider capacity, capital, and character. Investors will develop a subjective opinion of character informed by their own standards and those of the society in which they live. Continue reading
Posted in Uncategorized
Tagged hedge fund managers, Janet Tavakoli, prostitutes, sex talk
By William K. Black
(Cross-posted from Benzinga.com)
In criminology, we recognize that one of the leading restraints on the effectiveness of law enforcement is “systems capacity.” Indeed, my mentor, Henry Pontell (UC Irvine), defined the concept. In the context of crimes of the street (other than Wall Street), there is normally no lobby trying to allow the typically lower class criminals to commit their crimes with impunity. In crimes of the business suites, however, it is the norm that there are well-funded, powerful, and seemingly legitimate lobbyists for the elite criminals who seek to allow them to commit their crimes with impunity. Similarly, it is rare for street criminals to consult a lawyer before they commit their crimes. Elite white-collar criminals often consult with expert legal counsel before, during, and after they commit their crimes in order to try to minimize the risk of being sanctioned. Continue reading
Posted in William K. Black
Tagged Control Fraud, criminogenic environment, new york times, republicans
As I said I am not going to provide responses to comments on the final blogs of the primer. In any case, the commentary has degenerated into a chat room utilized largely by aging retirees who do not understand that we’ve got at least 25 million people in the US who want full-time jobs but cannot obtain them. The JG is a program designed to offer jobs to those who want to work. If our aged retirees are correct, we’ll offer the JG at and no one will show up to claim the job. I cannot see what all the fuss is about. Continue reading
Posted in L. Randall Wray, MMP
By Tracy Marvin
This is the last (most certainly not least) of the videos produced by Eric Tymoigne’s students in his modern money course at Lewis & Clark College.
Posted in Uncategorized
The UMKC economics department is featured in an article in the current Playboy that discusses the failure of theoclassical economics and economists to admit their theoretical and policy errors. The devotion of theoclassical economists to those errors has proven so dogmatic that their disastrous policies have created the ever more criminogenic environments that drive our recurrent, intensifying financial crises. Continue reading
Posted in William K. Black
Tagged heterodox economics, john cochrane, paul krugman, playboy, umkc
I am a fierce critic of Attorney General Eric Holder. I have long called for his resignation, and continue to do so, for his failure to investigate and prosecute the elite frauds that drove our financial crisis. So, my response to the Wall Street Journal’s editorial denouncing “Holder’s Racial Incitement” is motivated solely by the fact that the WSJ editorial is so foul and tendentious about Holder’s comments, America, and the partisan effort to deprive American citizens of one their most precious rights – the right to vote – that it compels response. Continue reading
Posted in William K. Black
It might seem strange to invoke Freddie Mercury and Queen in the context of the eurozone, but it’s the first thought that springs to mind, as Brussels and the increasingly hapless ECB, continue to mismanage their way to financial and economic catastrophe. Yesterday, there were signs that the Spanish plan to recapitalise Bankia (which came with the implied backing of the ECB’s balance sheet) introduced a potential way out of the eurozone’s metastisizing banking crisis. Sadly, it’s another idea which will never get off the bulletin board, as the ECB bluntly rejected any proposal to use its balance sheet to indirectly fund Bankia, the troubled Spanish lender
At the large law firm where I began my professional career we were warned about making “career limiting gestures” (CLGs). I confess to being an expert in committing CLGs, such that I am unemployable in the federal government. Continue reading
Posted in William K. Black
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