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.” …
James Kwak
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James Kwak
Hillary Clinton’s Lame Wall Street “Reform” “Plan”
by James Kwak • • 0 Comments
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
James Kwak
More Misinformation about Banking Regulation
by James Kwak • • 0 Comments
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.
James Kwak
Friedrich Hayek Supported a Guaranteed Minimum Income
by James Kwak • • 0 Comments
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
James Kwak, Must Read
Games Billionaires Play
by James Kwak • • 0 Comments
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…
James Kwak
Games Billionaires Play
by James Kwak • • 0 Comments
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…
James Kwak
Insider Trading Is OK … Sometimes
by James Kwak • • 0 Comments
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…
James Kwak
Cultural Capture and the Financial Crisis
by James Kwak • • 0 Comments
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.
Fast Facts, James Kwak
In US System, Rich Businessmen Need Not Buy Regulators and Politicians
by James Kwak • • 0 Comments
In the United States, for the most part, you don’t have to do anything illegal: the system takes care of it for you.
James Kwak
Who Are the Good Guys?
by James Kwak • • 0 Comments
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…
