corruption

"As far as the White House is concerned, it's case closed for Greg Craig's newest legal venture representing Goldman Sachs against the Securities and Exchange Commission. Administration spokesmen brushed aside questions about…

Goldman Sachs is launching an aggressive response to its political and legal challenges with an unlikely ally at its side — President Barack Obama’s former White House counsel, Gregory Craig. The beleaguered Wall Street bank hired…

Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). Alan Greenspan's reputation has a whiff of terminal decline after his…

It seems Ron Paul is on to the Obama neo-liberal con game

Update 2010-03-31. Note: I discovered the first video at the UMKC blog, where Black posts. Subsequently, I saw all the videos on YouTube where you can rate them and add to the buzz.

In January, I wrote Definition of terms which defined kleptocracy, looting, crony capitalism, propaganda and ideology.  Here are four more terms relevant to today: Bezzle To the economist embezzlement is the most interesting of…

The New York Observer has a wonderful interview with Jim Chanos out today. In it, he talks about probable fraud and criminality at Lehman. I want to use his comments as a lead-in to a wider discussion about fraud and criminality in…

I know I shouldn’t beat this dead horse but I can’t help myself. Just this past Friday, when describing Andy Xie’s hopeful tone in sensing a change of the short-sighted and ruinous mindset that was driving policy makers in the U.S., I…

This is the third in a series of posts about ideas for financial reform generated by the “Make Markets Be Markets” conference I attended yesterday in New York City on 3 Mar 2010. You can download all of the written presentations here. A…

Apparently, some of the ‘best reforms’ now being instituted in the U.S. to prevent a liquidity crisis in the future include limitations on demand deposits (hat tip Karl Denninger). What financial institutions are trying to prevent is a bank…