At the moment, we’re not exactly sure who knew what and when they knew it.
Apparently, both parties have platform planks calling for the reinstatement of the Glass-Steagall Act of 1933. Andrew Ross Sorkin made and unsubstantiated claim about why that would be a bad idea. His claim just wrong.
A few years back I wrote a paper on “cultural capture” in financial regulation. The basic idea is that the industry can achieve the practical result of regulatory capture—industry-friendly policies—not just by bribing regulators (legally or illegally) … Continue reading →
The very wealthy—who basically control the American political system—seem to be happy with the way things are. Here’s why that’s a problem.
Much of the Internet is giddy over Mark Zuckerberg and Priscilla Chan’s “pledge” to give “99%” of their Facebook stock to “charity.” Bill and Melinda Gates said, “The example you’re setting today is an inspiration to us and the world.” …
The “plan” she announced yesterday has two messages. On the one hand, she wants to show that she has the right approach to taming Wall Street. Unfortunately, it’s just more of the same
By James Kwak “Fed Tells Big Banks to Shrink or Else,” the Wall Street Journal proclaimed in the headline of its lead story today.* If only.
By James Kwak “We shall again take for granted the availability of a system of public relief which provides a uniform minimum for all instances of proved need, so that no member of the community need be in want o
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…