Wonk Wednesday: Glass Steagall
Hello, dear readers, as of today I am rolling out a weekly educational series entitled “Wonk Wednesday,” wherein I will deliver to you the background on important financial concepts and institutions,...
View ArticleOf Myths and Men: The GOP Trinity
There are few subjects more sacred to the Republican Party than Ronald Reagan and tax cuts. On Real Time with Bill Maher last night, anti-tax lobbyist Grover Norquist refused to back down from his...
View ArticleWonk Wednesday: It’s the Economy, Stupid
With the term ‘socialism’ being bandied about so freely these days, I thought it might be instructive to actually define the type of economy that exists in America today. No, not capitalism… Nor...
View ArticleThe Invisible Handjob of the Market
In his seminal economic treatise Wealth of Nations, Adam Smith laid the philosophical groundwork for the concept of “an invisible hand,” which was co-opted into “the invisible hand of the market” by...
View ArticleFree Market Fairytales: Job Creators
Parsing Republican economic rhetoric these days is almost as difficult as trying to determine the likelihood of Mitt Romney’s presidential nomination. The constant trickle-down propaganda for less...
View ArticleGoldman Sucks
Goldman sucks, according to Greg Smith, a former banker in the investment firm’s London office. In a New York Times Op-Ed on Wednesday, March 14, Smith wrote a scathing resignation letter detailing a...
View ArticleBank Runs Are Good?
Bank runs are a good thing, according to George Selgin, the Director of the Cato Institute’s Center for Monetary and Financial Alternatives. Conventional wisdom holds otherwise — just ask anybody who...
View ArticleIs JP Morgan’s CEO Banking on Dodd Frank Repeal?
This article first appeared in the Huffington Post, on July 8, 2015. As the fifth anniversary of the Dodd Frank financial reform law nears, Wall Street remains defiant at worst and flippant at best to...
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