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OpEdNews Op Eds    H2'ed 10/7/13

Bank Failures are "Inconceivable" under the Latest Neoclassical Fantasy

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Message William K. Black, J.D., Ph.D.
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We are suffering from recurrent, intensifying financial crises because we have simultaneously weakened essential public and private sector restraints against control fraud.  Theoclassical economists refuse to return to the proven means that combined effective private and public sector regulatory and prosecutorial restraints on CEOs and produced financial and economic systems that were anti-criminogenic, rewarded long-term investment perspectives that produced superior growth with far fewer crises, and were far more egalitarian and meritocratic.

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William K Black , J.D., Ph.D. is Associate Professor of Law and Economics at the University of Missouri-Kansas City. Bill Black has testified before the Senate Agricultural Committee on the regulation of financial derivatives and House (more...)
 
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