Category: financial reform

thirteen ways of looking at a whale

Wallace Stevens’ Thirteen Ways of Looking at a Blackbird came to mind Friday while watching bankers and regulators testify before the Senator Levin-lead bipartisan subcommittee hearing on “JPMorgan Chase Whale Trades: A Case History of Derivatives Risks and Abuses.” I…

nailing naked nonsense

Teaching and research distractions have again kept me from blogging for a while.  I guess my defense is that learning the facts is always an important precursor to writing about them. This morning, however, I decided to divert from class…

so why is no one in jail?

In the aftermath of the Savings & Loan (S&L) crisis of the 1980s, there were over 1800 criminal prosecutions and more than a thousand financial executives went to prison.  So far the financiers who have met a similar fate in the…

the widening financial gyre

TURNING and turning in the widening gyre The falcon cannot hear the falconer; Things fall apart; the centre cannot hold; Mere anarchy is loosed upon the world, The blood-dimmed tide is loosed, (from William Butler Yeats’ The Second Coming (1919))…