Morality and High Finance

By Wade Lee Hudson One of the best analysts of the financial industry is James Kwak, co-author with Simon Johnson of The Baseline Scenario blog. On February 14, he posted “The Social Value of Finance,” which was a comment on a long paper by Sabeel Rahman, a Harvard Law fellow, on the moral implications of the financial crisis and the question of how to deal with that are “too-big-to-fail” (TBTF). Kwak reported that Rahman “draws a contrast between a managerial approach to financial … [Read More...]

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In the space of less than 90 days, JPMorgan Chase has agreed to fines greater than the total value of all the assets held by almost every bank in the country. And not only is it still in business, it’s generating revenues roughly equal to all those fines every quarter. And its stock price is soaring. Rob Garver, Why ‘Too Big to Fail’ Is a Bigger Problem Than Ever … [Read More...]

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080325-F-6684S-771.jpgWoo! $300 bucks! Which is good, if the home that you lost is on the 16th hole of a miniature golf course.

Jon Stewart, commenting on the  national foreclosure settlement on The Daily Show, May 7, 2013.

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