Tag Archives: Yves Smith

Outsourcing State and Local Government Services is About Looting

For decades, citizens have been sold on the mantra that the hungry private sector can do a better and cheaper job of providing services than “inefficient” government. Now it is true that there were some badly run government entities that have done better when privatized (the poster child is British Telecom). Continue reading

Posted in Business News and Analysis, Local Government, State Government | Tagged , , , | 3 Comments

New Study Confirms that Lower Corporate Tax Rates Don’t Create Jobs

by Yves Smith, Naked Capitalism Corporate executives love to peddle the notion that they need to have their low tax payments reduced even further, even as the share of GDP represented by company profits is at unprecedentedly high levels. In … Continue reading

Posted in Business News and Analysis, Employment, GDP, Personal Income and Consumption, Taxation, economic predictions | Tagged , , , , , , , | 5 Comments

Mortgage Settlement Plan is More Bank Bailout

Guest Author: Yves Smith, author of the best seller “Econned” and founder of the widely read blog Naked Capitalism, where this article first appeared with the title:  Quelle Surprise! Taxpayers Will Be Paying for Part of Mortgage Settlement The whole … Continue reading

Posted in Banking News | Tagged , , , , , , , | 3 Comments

FDIC’s Frank-Dodd Fantasy

The FDIC has released a document that purports to show how it could have successfully resolved Lehman Brothers using its new Title II resolution authority granted under Dodd Frank.

All I can say is that this is an interesting piece of creative writing. The Lehman counterfactual rests on a series of assumptions, which as I will discuss shortly, look pretty questionable.
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Mortgage Problems – Yves Smith Interview by Harry Shearer

This interview is informative and interesting to those who have followed the mortgage crisis closely as well as to those to whom it is new. Continue reading

Posted in Banking News, Home Sales and Home Prices | Tagged , , , | 1 Comment