regulation

This post is designed to be a quick hit but I wanted to put up a few thoughts on corporatism, stimulus and austerity. Consider it an extension of my post "Corporatism masquerading as Liberty". I intend to argue that corporatism is…

The Federal Reserve released the quarterly flow of funds report which allows one to see the debt levels outstanding in the U.S. economy. From the looks of it, deleveraging has not continued apace. UBS' Andy Lees writes: The Fed Z1 flow…

The Obama Administration is keen to get this $20 billion mortgage settlement done. The prevailing view in the Administration is that the U.S. is in a fragile but sustainable recovery. With emerging markets leading the economic recovery and…

This year's winner for Best Documentary is "Inside Job' by Charles Ferguson. In accepting his Oscar, Ferguson said: "Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by…

As part of the US policy response to the global crisis, the Dodd-Frank Financial Reform Act calls for regulators to identify systemically risky financial firms – the sort that took the US financial crisis global. But how to identify these…

A corporation is a societal construct codified into legal existence to further the mutual interests of individuals. A corporation is "an artificial being, invisible, intangible, and existing only in contemplation of the law," according to…

By William K. Black (Cross-posted from Benzinga) The big news in U.S. regulation last week was the release of the Financial Crisis Inquiry Commission reports. (There's a major article in the New York Times about Kabul Bank that supports…

By William K. Black (cross-posted from Benzinga.com) Greetings from the North American Securities Administrators Association (NASAA) annual enforcement conference in Charleston, S.C.  I’m giving the keynote address Monday.  I’ll…

By William K. Black (cross-posted with Benzinga.com) Honest accounting is essential for effective regulation – and for integrity. It is also very helpful to prosecuting accounting fraud. The banking industry lobbyists, including the…

By William K. Black (cross-posted from Benzinga.com) When Reputation becomes Ineffective or even Perverse Control fraud also makes reputation perverse. Theoclassical economists predict that reputation trumps everything, even auditors'…