James Kwak

Who Are the Good Guys?

via Who Are the Good Guys? — Bull Market — Medium. Last month, Judge Lucy Koh of the Northern District of California rejected a $324 million deal that would have settled a suit brought against Adobe, Apple, Google, and Intel by 64,000 of their former employees. The plaintiffs claim that the companies conspired not to…

My Daughter’s Wish

Today my daughter’s combined first and second grade class wrote down their individual wishes for the world. The wishes are part of a wish tree. Here they are: I wish people could always be happy. I wish…

Why Regulation Goes Astray

Levitin did a good job using the books as a starting point for a discussion of the incentives problem in financial regulation: the problem that regulators have stronger incentives to favor the industry than to defend the public interest.

Is Credit Suisse Really in Jail?

Credit Suisse’s guilty plea to a charge of tax fraud seems to be a major step forward for a Justice Department that was satisfied both before and after the financial crisis with toothless deferred prosecution agreements and large-sounding fines that were easily absorbed as a cost of doing business. A criminal conviction certainly sounds good, and I agree that it’s better than not a criminal conviction. But what does it mean at the end of the day?