Restoring Trust: In Markets and Politics

It’s common knowledge that human societies work most effectively and harmoniously where there are high levels of trust – in each other and our institutions.  Markets cannot operate without trust.  Wall Street is learning this as I discussed in Electronic Bulls, Bears & Pigs.  Confidence among retail investors has dropped since …

Conflicts of Interest, Investor Loss of Confidence, and High Speed Trading in U.S. Stock Markets

Watch Brad Katsuyama, featured in Michael Lewis’ bestseller Flash Boys, discuss issues affecting the US equity markets, particularly conflicts of interest in pricing structure, market design and technology architecture, such as high-frequency trading.   Presented before the Permanent Subcommittee on Investigations June 17, 2014 09:30AM, Room 216, Hart Senate Office …

The JPMorgan Trade: Time for a Special Counsel

Better Markets sent a letter Monday to Attorney General Eric Holder, calling for the appointment of a special counsel in connection with the multibillion-dollar trading loss at JPMorgan Chase & Co. What’s at stake is very important, and goes to the heart of whether Americans still have faith that the judicial …

Financial Statesmanship for a New Economy

Financial Statesmanship for a New Economy by John Fullerton Reactions to departing Goldman derivatives salesman Greg Smith’s “Why I Am Leaving Goldman Sachs,” which appeared as an op-ed in the NY Times last week, have ranged from the hyperbolic — Robert Reich’s “If you took the greed out of Wall …

Decentralized Global Rebellion: G8 On The Run; Occupy News Roundup; American Police State; Move To Amend

This Is NOT What Democracy Looks Like! Criminalizing First Amendment Rights If laws like the new Trespass Bill (HR 347) had been in effect during the Civil Rights movement, there would have been no March on Washington. Martin Luther King Jr. and his fellow activists would have been rendered criminals. …

EFES Newsletter: A European Single Market for employee ownership

EFES NEWSLETTER – MARCH 2011 A European Single Market for employee ownership European Commissioner Michel Barnier organised a vast consultation about the new “Single Market Act”. The single market is all about bringing down barriers and simplifying existing rules across Europe. It would also include a European single market for …

Larry Summers and the Subversion of Economics

By Charles Ferguson, director and producer of the award-winning documentary Inside Job The Obama administration recently announced that Larry Summers is resigning as director of the National Economic Council and will return to Harvard early next year. His imminent departure raises several questions: Who will replace him? What will he do …