top-down technocratic government manipulation of civil liberties, and the American economy, is pushing the nation towards the pernicious charms of socialism.
And America, investors and non-investors alike, will suffer from its impact…
Remember when Steve Schwarzman said that taxing carried interest was “like when Hitler invaded Poland in 1939″? Or when Lloyd Blankfein said he was doing “God’s work”? Apparently, titans of finance can’t stop themselves from giving good copy.
By James Kwak President Obama’s 2015 budget proposes a number of tax increases that will mainly affect the rich. They include: Limiting the tax savings on deductions to 28 percent of the deduction amount (and applying this limit to exclusions as well, such as the one for employer-provided health benefits) Requiring a minimum 30% income … … Continue reading →
I don’t often go to academic conferences. My general opinion is that at their best, sitting in a windowless room all day listening to people talk about their papers is mildly boring…
A joint investigation by the U.S. Department of Justice, Hong Kong Department of Justice and the UK Ministry of Justice into accusations that American investment banks hired the children of powerful Asian officials to secure lucrative securities business, may have just ensnared JPMorgan Chase CEO Jamie Dimon. According to confidential emails recently turned over to […]
The post U.S. Banks Investigated For Pay-To-Play In China appeared first on Chris Street.
As the US government shutdown was still in effect and the prospect of a debt default loomed, President Obama held an extraordinary and revealing White House press briefing on October 8th in which he clarified his then position vis-à-vis the shutdown and debt ceiling. After the shutdown was (temporarily) ended on October 17th, Obama made a fairly extensive public statement airing his views of how he sees economic policy and government’s role. While I have not followed every one of Obama’s press conferences or speeches, in both of these public appearances, Obama went into unusual detail and lengths to expand on his views of politics, government and the economy. In addition, he marked out his most combative stance vis-à-vis the Republicans to date. Also in his October 17th statement we had the clearest statement for a number of decades, of some of the benefits of having a government at all from a top American political leader.
By James Kwak It pains me to see so much blogging fodder passing before my eyes and not have any time to do it justice. But here are a few thoughts: Why does anyone think that anyone cares about what … Continue reading →
Five years later, and things seem marginally better in some areas (the CFPB exists), significantly worse in others (LIBOR, money laundering, London Whale, etc.). There has been some debate recently about whether we have a safer financial … Continue reading →
Tyler Cowen thinks that we are entering an age of debates over wealth taxes. If only. It’s true, as Cowen notes, that national debt everywhere is a relatively small fraction of national wealth and that, therefore, “fiscal … Continue reading →
If there is a central argument to 13 Bankers, it is that politics matters. The financial crisis was the result of a long-term transformation of the financial sector and its place in the overall economy, and that transformation … Continue reading →
