The Scam Wall Street Learned from the Mafia
- 29 June 2012
Matt Taibbi brilliantly describes how banks conned small towns across the US. "No thumbs were broken, and nobody ended up in a landfill in New Jersey, but money disappeared, lots and lots of it, and its manner of disappearance had a familiar name: Organised crime." Rolling Stone
In one of the three books reviewed by economists Robin Wells and Paul Krugman, they explain how Obama's economic team fumbled the recovery because of its links to Wall Street. The New York Review of Book
Noah Smith argues that the prestige of the marco field of economics is falling because as things stand, macro is mostly a "science" without falsification. Therefore, macroeconomists need to admit their ignorance more often and search for better ways to falsify macro theories in a more convincing way. Noahpinion
In this piece, Merrill Goozner points our attention to the current tug of war between the credit supply and demand issues facing small businesses amid a sluggish economic environment. The American Prospect
"Monti has failed to produce the miracle that Italy was hoping for, offering only painful remedies for years of misgovernment. It turns out that politics matter, and technocrats aren't much good at politics." Bloomberg View
Got any other suggestions for what we should be reading? Tell us below?
Sign up for our free email newsletter here.
- Pensioners could be hit with 45% tax charge shock when new freedoms kick-in
- Tesco chairman steps down as group confirms it actually overestimated its half year profits by £263m
- Is the bull market in shares now under threat?
- Lloyds expected to axe 9,000 jobs over the coming three years as part of strategic review
- As Junior ISAs mark their third birthday, Child Trust Fund savers need to weigh-up their options
- Equity market volatility: A simple correction or the beginnings of a bear market?
- Annuities: accept no substitutes?
- With the evenings getting darker ensure your home is safe and sound from burglars this winter
- 5 million join 'stretched middle', supporting older or younger family members
- Married couples and civil partnerships will benefit from new intestacy rules but cohabitees lose out