Via Mark Thoma Economist’s View comes this note on credit rating company incentives: While the US Department of Justice did not give any statistical evidence in its deposition, our new research (Efing and Hau 2013) suggests that rating favors were indeed systematic and pervasive in the industry. In a sample of more than 6,500 structured […]

by Tom aka Rusty Rustbelt Health Care Thoughts: California Assembly Bill 880 (pending) It was a no brainer to predict Obamacare would have a major impact on restaurant and retail employers, especially in the throes of a weak economy. The composition of the work forces and often slim margins guarantee problems. Darden Corp. (Red Lobster […]

Political Calculations gives us this chart of median new home prices versus median incomes over the last 46 years. The rising tip at the upper right (!) is May 2013. What do you think: sustainable? Here’s the zoomed-in version of recent years, from inside the red dashes: As they say, …new homes are, virtually by definition, at the […]

U.C.-Berkeley law professor Goodwin Liu’s nomination to the Ninth Circuit Court of appeals was killed a couple years ago by Senate Republicans upon the pretext that Lui had trashed Alito to the Senate Judiciary Committee in testimony during Alito’s confirmation hearing.  Lui predicted that Alito as a justice would be exactly what Alito as a […]

Robert Pollin is Professor of Economics at the University of Massachusetts in Amherst. He is the founding co-Director of the Political Economy Research Institute (PERI). This is via Real News: I want to refer to an article that was in the global–the leading global financial newspaper The Financial Times last week by one of their […]

by Tom aka Rusty Rustbelt Health Care Thoughts: Cap per Procedure Some employer health plans are experimenting with a cap-per-procedure system, allowing $X for a certain procedure and forcing employees to pay any difference. This is not as harsh for employees as it first sounds, as the plans are using this as leverage to cap fees […]

As if the scene was taken out of “Mr. Smith Goes to Washington”, the 13 hour filibuster by Texas State Senator Wendy Davis succeeded in killing SB537 by minutes. The vote failed to happen in the allotted time killing the bill for the time being. While filibustering the passage of the bill, Texas State Senator […]

Now the shoe is on the other foot, and it is time for the court to strike down a federal statute in order to advance a liberal policy goal rather than a conservative policy goal. Justice Scalia’s paean to the democratic process* in his dissent sounds a little hollow, coming in the wake of his votes to […]

Guest post by Edward Lambert as taken from his Blog Effective Demand Yes, the economy is a concern. There are problems to sort out. The problems run deep. What is the solution? The solution to the problems of the economy will be found through “Social Efficiency” and raising the social standards that have been declining […]