The Downside of the Boom

North Dakota took on the oversight of a multibillion-dollar oil industry with a regulatory system built on trust, warnings and second chances. The cooperative approach doesn’t seem to generate results.

NYT -In early August 2013, Arlene Skurupey of Blacksburg, Va., got an animated call from the normally taciturn farmer who rents her family […]

US Federal Reserve Initiates Investigation of New York Federal Reserve

Value Walk, By Mark Melin, November 21

After press reports reveal more than a cozy relationship, but sharing of confidential documents, investigation called for on eve of Senate testimony on the issue

After a withering expose in The New York Times that showed bank regulators at the New York Federal Reserve sharing confidential information with […]

Senate Report: Banks Had Unfair Commodity-Market Advantages

Report Notes Deals Between Goldman, Deutsche and Others Drove Up Aluminum Prices

The Wall Street Journal, by Christian Berthelsen & Ryan Tracy, November 19

Washington — A U.S. Senate report on commodity-market activities at big Wall Street banks accuses the firms of being so powerful they were able to influence prices, gain trading advantages and […]

Obama Agrees with Republicans: Will Abolish Obamacare

President Obama announced today that in the spirit of bi-partisanship he will agree to repeal Obamacare. The press release follows:

[…]

The Dems die a little more in Maryland

The shocker victory of Republican governor-elect Larry Hogan here in deep blue Maryland is a vivid example of how the Democratic Party is paying the price for having sold its base down the river. Here is WaPo on the physics of Tuesday’s gubernatorial Democratic unraveling here in the Free State:

With more than 90 percent […]

Think Tank Memories

Renegade Economists: October 1, 2014: DOUBLETHINK TANKS, TAR SANDS, WATER & IMPERIALISM.

Michael Hudson, October 9

Karl Fitzgerald: This week on the Renegade Economists we’re joined by Professor Michael Hudson, the author of The Bubble & Beyond, Super Imperialism, and a host of other books. You can read his work at www.Michael-Hudson.com. Certainly our favourite […]

The Unattainable Illusion of Meritocracy

Naked Capitalism, By Yves Smith, October 26

I’m a big fan of Richard Bookstaber, the author of the important book A Demon of Our Own Design. And while I’m glad to see a rare new post from him, on how to deal with the matter of inequality (as in whether to deal with the problem […]

‘Bomb trains': A crude awakening for Richmond, Calif.

Local activists try to halt the shipment of explosive Bakken crude oil through their neighborhoods.

Al Jazeera, By Audrea Lim, October 24

Richmond, CA — The streets are quiet in Lipo Chanthanasak’s neighborhood on the outer edge of this city’s downtown core. Each of the small houses is painted a variation of beige and separated […]

Fed Chairwoman Yellen Inquires About How the Unemployed Find Jobs

The Wall Street Journal’s Real Time Economics Blog, By Pedro Nicolaci da Costa, October 16

Chelsea, MA —Federal Reserve Chairwoman Janet Yellen on Thursday visited a nonprofit group here that helps unemployed people find work, and posed a question at the heart of the central bank’s debate over when to start raising interest rates.

“I’d […]

Americans Face Post-foreclosure Hell As Wages Garnished, Assets Seized

Reuters, By Michelle Conlin, Ocotber 14

New York – Many thousands of Americans who lost their homes in the housing bust, but have since begun to rebuild their finances, are suddenly facing a new foreclosure nightmare: debt collectors are chasing them down for the money they still owe by freezing their bank accounts, garnishing their […]

The Wages of Capitalism

Winston Churchill once famously said of Democracy, “Democracy is the worst form of government, except for all the others.” Oddly, he also said, “The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.”

I say “oddly,” because of Naomi Klein and […]

Fired financial regulator releases secret tapes of Goldman Sachs meetings

Carmen Segarra, 41, said she began recording meetings because she couldn’t believe how the regulators bowed and scraped to the behemoth investment bank. The tapes were released to ProPublica and This American Life.

New York Daily News, By Ginger Adams Otis, September 27

A fired financial regulator whose job was to oversee Goldman Sachs for […]

How Democracy Dies

Tocqueville taught that restless private obsessions would degrade civic commitments close to home.

The American Conservative, By Patrick J. Deneen, September 12

If there are two things that one is likely to hear from college faculty today, they are that 1. Students are too careerist, and 2. We need a more democratic society. They worry […]

How Hillary Clinton’s State Department Sold Fracking to the World

A trove of secret documents details the US government’s global push for shale gas.

Mother Jones, By Mariah Blake, September/October ’14

One icy morning in February 2012, Hillary Clinton’s plane touched down in the Bulgarian capital, Sofia, which was just digging out from a fierce blizzard. Wrapped in a thick coat, the secretary of state […]

Who The Fck Is Campbell Brown?

Esquire, By Charlie Pierce, August 6

To paraphrase from my grandmother, the former shepherd lass from the hills and hollows of north Kerry, who the fck is Campbell Brown when she’s at home?

Well, on the basics, she’s from Ferriday, Louisiana, the hometown of Jerry Lee Lewis, and she graduated from Regis University in Denver […]

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