Sunday, September 16, 2012

Randy Wray — Crony Capitalism, American Style

The Wall Street bank’s business model is fraud. In many of my blogs I’ve been focusing on US real estate because a) homes are where most of the wealth of the bottom 99% of the population is held; b) the real estate mess is like Shrek’s onion, with layer upon layer of fraud; c) the bursting of the real estate bubble is what set off the Global Financial Crisis; and d) real estate fraud is the main tool used by the 1% to move all wealth to the top.
Each day we get more evidence to support what many of us have been saying for the past couple of years.
Economonitor | Great Leap Forward
Crony Capitalism, American Style
L. Randall Wray | Professor Economics, UMKC


Matt Franko said...

Civil lawsuits still coming in:

European institutions going after Wall Street for civil fraud.


Jonf said...

This one has some links to some really serious stuff. Fraud is/was rampant and we are no where near the end of the housing mess it appears.