Author Archives: Mitch Green

Hedge Fund Managers: Sex Talk and Prostitutes

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

House Republicans Try to Create the World’s Worst Criminogenic Environment

By William K. Black
(Cross-posted from

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

Response to Blog 50: Conclusion – Minsky and the Job Guarantee

By L. Randall Wray

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

William K. Black: Abacus Bank Indicted for Mortgage Fraud – More Prosecutions to Come?

Social Security: Financial, Real and Political Constraints

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.

Honest Mom, I only bought the new Playboy to read the article on UMKC Economics

By William K. Black

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

The WSJ’s Hit Piece on Holder

By William K. Black

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

William K. Black on “Career Limiting Gestures”

Another One Bites the Dust: The ECB Pours Cold Water on Bankia Bailout Solution

By Marshall Auerback

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

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Career Limiting Gestures (CLG): Trying to Speak Truth to Congress

By William K. Black

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