“Pervasive” Fraud by our “Most Reputable” Banks

by William K. Black, New Economic Perspectives A recent study confirmed that control fraud was endemic among our most elite financial institutions.  Asset Quality Misrepresentation by Financial Intermediaries: Evidence from RMBS Market. Tomasz Piskorski, Amit Seru & James Witkin (February 2013) (“PSW 2013”). The key conclusion of the study is that control fraud was “pervasive” …

Some Modest Proposals for Reforming the U.S. Financial and Tax System

by Guest Author Michael Hudson

On November 3, 2011, Alan Minsky interviewed me on KPFK’s program, “Building a Powerful Movement in the United States” in preparation for an Occupy L.A. teach-in. To clarify my points I have edited and expanded my answers from the interview transcript.