corporatism

The answer is yes. video below

Bill Moyers talks to former Citicorp and Citigroup head John Reed about what's wrong in the banking sector. John Reed readily acknowledges his role in bringing down the Glass-Steagall Act (Hat tip finance Addict).

Fannie and Freddie have already been nationalized and the government is already on the hook for hundreds of billions of dollars of losses as a result. Clearly, this makes it a lot easier to use the GSEs as vehicles to pump money into the…

I was thinking about that last post I wrote on the euro zone and regulatory forbearance. They say a picture is worth a thousand words. So here's a picture that captures my thinking pretty well.

A quote from Former Federal Reserve Chairman Alan Greenspan, who centrally controlled and underpriced the most over-leveraged interest rate in the world for 18 years and is now cashing in like a reality TV celebrity

the banks now browbeat governments – not by having ready cash but by threatening to go bust and drag the economy down with them if they are not given control of public tax policy, spending and planning. The process has gone furthest in the…

Enemies of freedom will always tell you that there is some trade-off between freedom and civil liberties to get you to give up your freedom. This is a false dichotomy and always will be.

A post about the job guarantee idea in the context of a historic economic crisis.

Financial news links for 3 January 2012. I posted this first link on twitter yesterday afternoon and it got a ton of retweets. I have seen a lot of people link out to it. Bottom line: the concept that bankruptcy is part and parcel of…

William Cohan told Bloomberg Television's Erik Schatzker and Stephanie Ruhle that he believes 'psychopaths" at the helm of major financial institutions were responsible for the credit crisis.