James Kwak

Games Billionaires Play

Prices for modern and contemporary art are soaring — $82 million for a Warhol print, $101 million for a Giacometti sculpture, $142 million for a Francis Bacon triptych. James Stewart assures us, however, that this isn’t a bubble — it’s just money flowing into a new asset class in search of innovative works that are likely to rise in…

Games Billionaires Play

Prices for modern and contemporary art are soaring — $82 million for a Warhol print, $101 million for a Giacometti sculpture, $142 million for a Francis Bacon triptych. James Stewart assures us, however, that this isn’t a bubble — it’s just money flowing into a new asset class in search of innovative works that are likely to rise in…

Insider Trading Is OK … Sometimes

Insider Trading Is OK … Sometimes — Bull Market — Medium. It must be fun to go after insider traders. They’re rich people who cheat to make themselves richer. Drag them in front of a jury of ordinary people, show that they made money trading on information that ordinary people don’t have, and wait for…

Cultural Capture and the Financial Crisis

Two weeks ago, an investigation by ProPublica and This American Life illustrated the culture of deference, risk aversion, and general sucking-upitude among New York Fed bank examiners that effectively resulted in the capture of regulators by the banks they were supposed to be regulating.

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…