New Economic Perspectives

The Grenfell Tower Block fire in London is a predictable consequence of policies that can be traced to Margaret Thatcher, Tony Blair and Gordon Brown, as well as those of David Cameron and Theresa May, says NEP’s Bill Black on The Real News Network. You can view here with transcript. [embedded content]

By William K. BlackJune 27, 2017     Bloomington, MN The president of the New York Stock Exchange (NYSE) launched a coordinated attack on “shorts” that mirrored his rival’s (Nasdaq) attack.  The NYSE assault, however, used bizarre rhetoric. “It feels kind of icky and un-American, betting against a company,” NYSE Group President Tom Farley told lawmakers in Washington Tuesday. The heads of the NYSE and Nasdaq have appropriated the word “transparency” to support the effort to reduce the...

By William K. BlackJune 26, 2017     Bloomington, MN There are many people culpable for the mass loss of life in the Grenfell fire in London.  At this time, we know enough about the fire and its causes to be able to discuss these matters with sufficient confidence to draw preliminary conclusions.  As always, we should also keep in mind that we do not have all the facts so some of our conclusions must be tentative. I do not focus on Tony Blair and Gordon Brown because they are uniquely...

By Bank Whistleblowers UnitedJune 25, 2017 Bank Whistleblowers United (BWU) makes its non-coveted Lemon award to the United Kingdom (UK) for actions harming whistleblowers and the world.  BWU’s three principals are highly experienced financial experts with combined practical and academic experience of over 120 years.  We are each unemployable in finance because we warned internally at are places of work and then externally about grave misconduct by the most senior financial and...

NEP’s Bill Black appears on The Real News Network and says don’t expect much – sadly, the British Serious ‘Farce’ Office that brought about the charges may not have the wits to carry out the prosecution. You can view with transcript here. [embedded content]

NEP’s Bill Black appears on the Real News Network and explains that the Republicans’ effort to eliminate Dodd-Frank Act financial regulations serves the interests of the big financial institutions and has nothing to do with rules’ complexity or impact on the economy. You can view here with a transcript. [embedded content]

By William K. BlackJune 6, 2017     Bloomington, MN Rupert Murdoch controls the Wall Street Journal and Fox News.  Even before he acquired the WSJ its editorial board was known for its members’ ultra-right wing fervor.  The acquisition intensified that fervor.  The editorial board’s fervor has infected the WSJ’s news pages.  That is the context essential to understanding the significance of its June 6, 2017 editorial eviscerating President Donald Trump.  They entitled their editorial...

Due to the size of this post, it  has been split into 2. You can find part A here. Monetary instruments Monetary instruments are the last type of marketable promissory notes. Post 15 and Post 16 are devoted to their analysis. One of the main characteristics of monetary instruments is that their term to maturity is instantaneous, that is, they can be returned to the issuer at the will of the bearer. In terms of cash, that is physical monetary instruments, the Financial Accounts of the...

Due to the size of this post, it was split in two. You can find Part B here. The M&B series is back! The goal is to finish the first complete draft of the book by the time I need to teach my Money and Banking course. Over the coming months, the following topics will be covered. Overview of the financial system Federal Reserve System institutional analysis Interest rate and interest rate structure Pricing of securities Off balance sheet: Securitization Off balance sheet: Derivatives...

NEP’s Bill Black talks to The Real News Network and explains the history and dynamics of FBI investigations, which show that they are not as unstoppable or unimpeachable as they are being made out to be. You can view with transcript here. [embedded content]