Devin Smith

Kansas, Where Science De-Evolves into Creation Myths – Bill Black

This is the fourth article in my evolving series of pieces prompted by the Kansas Regents’ new policy that eviscerates academic freedom and tenure. In my third installment I explained that the Regents’ action, while cowardly, unconstitutional, and self-destructive, was not taken on their initiative but in response to extortion by Kansas legislative leaders.

JPMorgan: Fish Rot from the Head – Bill Black

The New York Times’ spin of the tentative settlement of JPMorgan’s latest myriad felonies begins early and runs throughout the article. JPMorgan and Attorney General Eric Holder have reached a common meme on their settlement: the Department of Justice (DOJ) and Holder are stalwarts who have demonstrated their toughness and JPMorgan is a model corporate citizen. The inconvenient facts that the senior officers of JPMorgan, Bear Stearns (Bear), and Washington Mutual’s (WaMu) grew wealthy through the frauds that drove the financial crisis and that JPMorgan’s senior officers will not be prosecuted and will not even have to repay the proceeds of their crimes never appear in the article.

Cowen Condemns the Corporations he Comes to Praise – Bill Black

Tyler Cowen often seeks to defend corporations from what he views as unjust criticism. He does not, however, evidence any understanding of the relevant criminology or economics literature on “control fraud” so his defenses sometimes actually represent indictments of the risks posed by corporations. A good example is blog about libertarianism and the workplace.