Business

This American Life’s broadcast of recordings made by a former New York Fed employee has generated a wave of interest in the issue of regulatory capture of the Fed, a sort of “Stockholm Syndrome” that affects regulators who identify with the businesses that they regulate, in this case the big banks...
10/02/2014
Blog
Last week, in an interview with Bloomberg News, former Countrywide CEO, Angelo Mozilo gave the nation the middle finger.  He expressed zero remorse or culpability for his very personal (and personally lucrative) role in the subprime crisis that catalyzed a global economic recession....
09/09/2014
Blog
As the world watches the working class town of Ferguson, Missouri, the Fed is meeting in the secluded Jackson Hole, Wyoming to debate the future of work.  As part of the Kansas Fed’s annual conference, Janet Yellen delivered her first, closely watched, speech to the conference as Fed chair. In...
08/22/2014
Blog
Why is New York City’s public housing about to collapse?  The pending collapse is literal as well as physical: hundreds of thousands of New Yorkers are living with mold, water, and broken elevators throughout the city’s 2,600 New York City Housing Authority (NYCHA) buildings, and resident...
08/13/2014
Blog
To rehash, the Child Allowance (CA) is a policy I have been pushing in which parents receive $300/month for every child they are taking care of. I propose that it replace the Child Tax Credit, the dependent exemption, the head of household filing status, and the child and dependent care tax credit...
08/04/2014
Blog
The White House took an important step today to protect millions of Americans who work for federal contractors from illegal wage practices and health and safety risks in the workplace. The Fair Pay and Safe Workplaces Executive Order establishes a screening system to identify whether prospective...
07/31/2014
Blog
The water war in Detroit has taken a new turn. The emergency manager (the virtual city dictator appointed by the governor) shut off thousands of customers of the Detroit Water and Sewerage Department for non-payment. Some were undoubtedly taking advantage of the chaos caused by the State takeover...
07/29/2014
Blog
Oh boy. Reihan Salam has a piece riddled with confusions, some conceptual, some technical, and some just downright strange. It is so confused that I will eschew the normal narrative type reaction and just go line-by-line. Poverty Measurement Here's when the good stuff starts: But getting more...
07/25/2014
Blog
As fourth anniversary of the enactment of the Dodd Frank financial reform legislation passes, we are once again revisiting whether “too-big-to-fail” is in our past. The perennial discussion has become a distraction that gets in the way of the real issues of the financial system that persist to this...
07/22/2014
Blog
Once again, Detroit’s tragic circumstances provide a window on the state houses and governors that were captured by right wing ideologues in the 2010 elections and are now at odds with urban (read “racial minority controlled”) governments. The state-appointed Detroit Emergency Manager has commenced...
07/16/2014
Blog
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