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Blog Profile / The Baseline Scenario

Filed Under:Business & Finance / Economics
Posts on Regator:512
Posts / Week:2.8
Archived Since:February 8, 2011

Blog Post Archive

How to Get Thrown Out of a Luxury Hotel

By James Kwak That’s one of the subplots of Big Money, by Politico reporter Kenneth Vogel, a book that I reviewed for yesterday’s issue of the New York Times Book Review. You can read that review, so I won’t re-review it here, except … Continue reading ?

Corporate Political Contributions and Bad Faith, Whatever That Is

By James Kwak In an earlier paper (blog post here), I argued that corporate political contributions can in many cases be challenged by shareholders as conflicted transactions that further insiders’ personal interests (e.g., lower individual income taxes) rather than the … Continue reading ?

Larry Summers and Finance

By James Kwak I think some people didn’t understand the point I was making about the question of whether the government made money on TARP in my earlier post. Summers said, “The government got back substantially more money than it … Continue reading ?

Larry Summers Should Keep His Mouth Shut

By James Kwak Larry Summers is well on his way to rehabilitating his public image as a brilliant intellectual, moving on from his checkered record as president of Harvard University and as President Obama’s chief economic adviser during the first … Continue reading ?

Worse Than We Even Imagined

By James Kwak I’m giving a talk at the UConn Law School reunions tomorrow, and one of my closing points is about the plethora of banking crimes/scandals/whoopsies that we’ve seen in the past few years—even those having nothing to do … Continue reading ?

My Daughter’s Wish

By James Kwak Today my daughter’s combined first and second grade class wrote down their individual wishes for the world. The wishes are part of a wish tree. Here they are: I wish people could always be happy. I wish … Continue reading ?

Czars, Kings, and Presidents

By James Kwak Over the years, Tim Geithner has come in for a lot of well-deserved criticism: for putting banks before homeowners, for lobbying for Citigroup when it wanted to buy Wachovia, for denying even the possibility of taking over … Continue reading ?

Why Regulation Goes Astray

By James Kwak The Harvard Law Review recently published a multi-book review by Adam Levitin, the go-to guy for congressional testimony on toxic mortgages, illegal foreclosures, and homeowner relief (or, rather, the failure of the administration to provide any). It’s a … Continue reading ?

Is Credit Suisse Really in Jail?

By James Kwak Credit Suisse’s guilty plea to a charge of tax fraud seems to be a major step forward for a Justice Department that was satisfied both before and after the financial crisis with toothless deferred prosecution agreements and … Continue reading ?

Connecticut Public Retirement Plan Passes, More or Less

By James Kwak A couple of weeks go I wrote an op-ed about a proposal in Connecticut to create a new tax-preferred retirement plan that would, by default, include almost all workers who don’t currently have access to an employment-based … Continue reading ?

What Is Social Insurance? Take Two

By James Kwak More than a year ago I wrote a post titled “What Is Social Insurance?” about a passage in President Obama’s second inaugural address defending “the commitments we make to each other – through Medicare, and Medicaid, and … Continue reading ?

Finance and Democracy

By James Kwak Roger Myerson, he of the 2007 Nobel Prize, wrote a glowing review of The Banker’s New Clothes, by Admati and Hellwig, for the Journal of Economic Perspectives a while back. Considering the reviewer, the journal, and the content of the … Continue reading ?

Tax Policy Revisionism

By James Kwak In an otherwise unobjectionable article about The Piketty, the generally excellent David Leonhardt wrote this sentence: “In the 1950s, the top rate exceeded 90 percent. Today, it is 39.6 percent, and only because President Obama finally won a … Continue reading ?

The “Chicken(expletive) Club”

By James Kwak The only “Wall Street” “executive” to go to jail for the financial crisis was Kareem Serageldin, the head of a trading desk at Credit Suisse, according to Jesse Eisinger in a recent article. Serageldin pleaded guilty to—get this—holding … Continue reading ?

The Conspiracy Behind the B of A “Mistake”

By James Kwak Some very clever people deep in the bowels of Bank of America’s accounting and regulatory compliance departments came up with a clever strategy to show, once and for all, that their bank is too big to manage. … Continue reading ?

Retirement Accounts for Everyone

By James Kwak The Connecticut legislature is considering a bill that create a publicly administered retirement plan that would be open to anyone who works at a company with more than five employees. Employees would, by default, be enrolled in … Continue reading ?

I’m Shocked, Shocked!

By James Kwak Technology-land is abuzz these days about net neutrality: the idea, supported by President Obama, (until recently) the Federal Communications Commission, and most of the technology industry, that all traffic should be able to travel across the Internet … Continue reading ?

Where Do You Want to Be Born?

By James Kwak That seems like a nonsensical question. Of course, each of us born where he or she was born, and we didn’t have much choice in the matter. But, philosopher John Rawls asked, if you lived behind a … Continue reading ?

Rumsfeldian Journalism

By James Kwak I still have Nate Silver in my Twitter feed, and I used to be a pretty avid basketball fan, so when I saw this I had to click through: Just how bad were the @DetroitPistons‘ Bad Boys? … Continue reading ?

Defending Kickbacks

By James Kwak The Wall Street Journal reports that the SEC will soon decide (well, sometime this year) whether brokers should be subject to a fiduciary standard in their dealings with clients, as registered financial advisers are today. At present, … Continue reading ?

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