New Economic Perspectives

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Public Enterprise, National Development and Unemployment – By Dan Kervick

Bill Mitchell has a really great piece up today at his wonderful blog, billyblog. After briefly discussing the Modern Monetary Theory (MMT) emphasis on the operational realities of the monetary system, and asking whether or not it is important to situate those discussions of operations and macroeconomics in broader debates about ethics and morality, Bill…

Obama’s FBI Channels the Tea Party: Partner with the Banks and Blame the Poor for the Crisis – William K. Black

By William K. Black (Cross posted and Benzinga.com) Introduction This is the third column in my series discussing why the FBI and the Department of Justice (DOJ) have failed to investigate and prosecute successfully the largest and most destructive financial fraud epidemic in history. The series uses the FBI’s 2010 Mortgage Fraud report to tease…

Fannie Mae Hires an Officer it Alleges Defrauded it – and Finance Cheers- William K. Black

By William K. Black Three Bloomberg reporters have done the Nation a service by ferreting out a scandal of moderate magnitude but emblematic importance.  Dakin Campbell, Jody Shenn and Phil Mattingly broke the story on August 14, 2013 that Adam Glassner, recently described, but not named, in the Department of Justice’s (DOJ) fraud suit against…

The FBI’s 2010 Mortgage Fraud Report Reveals Why the Banksters Love Holder – William K. Black

By William K. Black The Obama administration’s continuation of the Bush administration’s refusal to prosecute the elite banksters (or even the vastly lower status CEOs of the fraudulent mortgage bank) that drove the crisis has made it clear that the rule of law no longer applies to wide ranges of life and that crony capitalism…

Rajan Calls Krugman “Paranoid” for Criticizing Reinhart and Rogoff’s Research – William K. Black

By William K. Black This article discusses a simmering feud among five of the most prominent economists in the world (two of them Nobel Laureates).  It was prompted by the August 8, 2013 article by Raghuram Rajan, who has just been selected to run India’s Central Bank, entitled: “The Paranoid Style in Economics.”  (Note: I…

Getting to the Bottom of Things – Dan Kervick

Since the crisis of 2008, professional and academic economists have grown increasingly concerned that something is wrong with their profession.  Sometimes that anxiety springs only from the recognition that most of their colleagues failed to predict the oncoming crisis.  But sometimes a nearly opposite concern is voiced: We sometimes hear the complaint that economists are…

Why are Appraisers Furious at Fraud by their Peers while Corporate Lawyers are Complacent? William K. Black

by William K. Black I have done a series of articles about the efforts of honest appraisers (which began in 2000) and loan brokers to alert the lenders, the markets, and the government to the twin fraud epidemics (appraisals and “liar’s” loans) committed by lenders’ controlling officers that drove the financial crisis. Honest appraisers could…