[Bailout Sites]

Eshragh Motahar
Winter 2024

Office Information,  Location:  Lippman 219;  Telephone:  388-6065;  E-mail:  motahare@union.edu

Global Financial Crisis and the COVID Crisis

• A macroprudential approach to managing climate risk.  By Paul Hiebert, CEPR, 1/17/2024.
• A Victory Lap for the Transitory Inflation Team.  By Joseph Stiglitz, Project Syndicate, 11/13/2023.
• Pentagon Tries to Cast Bank Runs as National Security Threat.  By Ken Klippenstein and Daniel Boguslaw, 4/3/2023.
• US Banks Have $620 Billion of Unrealized Losses on Their Books.  By Noah Buhayar, et al, 3/31/2023.
• A New Chapter of Capitalism Emerges From the Banking Crisis.  By John Micklethwait and Adrian Wooldrige, Bloomberg, 3/22/2023.
• What’s a Minsky Moment, and Why the Worries About One.  Edna Curran, Bloomberg, 3/21/2023.
• JPMorgan Sees Increasing Chances of ‘Minsky Moment’.  Carmen Reinicke, Bloomberg, 3/20/2023.
• ►Will there be a Global Economic Crash?  Nouriel Roubini (interviewed), BBC Channel 4, 12/16/2022.
• ‘Huge, Missing and Growing:’ $65 Trillion in Dollar Debt Sparks Concern.  By Greg Ritchie, Bloomberg, 12/5/2022.  (and here)
• Mainstream Media Has Morphed from Battling the Fed in Court in 2008 to Groveling at its Feet Today.  By Pam Martens and Russ Martens, Wall Street on Parade, 1/11/2022.
• How the West poisoned its money.  By Yanis Varoufakis, Project Syndicate, 10/10/2022.
• ►We're in a crisis and it will get worse in the coming months.  Jeffrey Sachs (interviewed), Prague Public Finance Institute, 8/25/2022.
• Economists Pin More Blame on Tech for Rising Inequality.  By Steve Lohr, The New York Times, 1/11/2022.
• The Price of Happiness.  U.N. Power Broker Jeffrey Sachs Took Millions From the UAE to Research “Well-Being”.  The Intercept, 11/29/2021.
• The Future of Work | Are Redistribution Policies Enough?  Institute for New Economic Thinking Webinar on 1/12/2021, 12:00-13:00.  Here and here. [There are several other webinars on this topic at this site.].
• “Your Debt Is Someone Else’s Asset”: Calls Mount to Cancel Debt & Halt Wealth Transfer to the Rich.  DemocracyNow!, 12/9/2021.
• The Choking of the Global Minotaur.  By James K. Galbraith, Project Syndicate, 11/11/2021.
• The Silenced Majority.  By Rana Dasgupta, Harper's Magazine, 12/2020.  Reading list.  Discussion.
• The Krugman Boom? Don’t Count on It.  By Dean Baker, CounterPunch, 11/23/2020.
• The NYT Prints Its Usual Nonsense About Bubbles.  By Dean Baker, CounterPunch, 11/5/2020.
• Leak reveals $2tn of possibly corrupt US financial activity.  By David Pegg, The Guardian, 9/20/2020.
• Are We All Keynesians Again?  By Andrés Velasco, Project Syndicate, 8/25/2020.
• How to Prevent the Looming Sovereign-Debt Crisis.  By Joseph Stiglitz and Hamid Rashid,  Project Syndicate, 7/31/2020.
• Revisiting the White Swans of 2020.  By Nouriel Roubini, Project Syndicate, 7/29/2020.
• Monetary Finance in the Age of Corona Virus: MMT and the Green New Deal.  5/23/2020.
• An Alchemist Explains to Joe Sixpack: ‘COVID-19 Alters America’s Hidden ‘War’ Forever’.  By Alastair Crooke, Strategic Culture Foundation, 4/13/2020.
• How black swans are shaping planet panic.  By Pepe Escobar, Asia Times, 3/11/2020.
• Useless Wells Fargo Settlement Shows the Rule of Law Ended Long Ago.  By David Dayen, The American Prospect, 2/24/2020.
• Brexit’s Stealthy Rationality.  By Yanis Varoufakis,  Project Syndicate, 2/21/2020.
• The White Swans of 2020.  By Nouriel Roubini, Project Syndicate, 2/17/2020.
• What Economists Still Don’t Get About the 2008 Crisis.  By Noah Smith, Pocket/Bloomberg, 12/30/2019--originally 12/29/2018.
• A Wicked Cocktail of Corporate Greed, Social Media and Opioids Is Slashing U.S. Life Expectancy Rate.  By Robert Bridge, Strategic Culture, 11/30/2019.
• 'Everything Is Not Fine'.  By Jin Queally, Portside, 11/27/2019.
• It's time to retire metrics like GDP. They don't measure everything that matters.  By Joseph Stiglitz, The Guardian, 11/24/2019.
• Cryptoqueen: How this woman scammed the world, then vanished.  BBC, 11/24/2019.
• The End of Neoliberalism and Rebirth of History.  By Joseph Stiglitz, 11/14/2019.
• The Allure and Limits of Monetized Fiscal Deficits.  By Nouriel Roubini, Project Syndicate, 10/28/2019.
• Race for Profit: Keeanga-Yamahtta Taylor on How Banks & Real Estate Biz Undermined Black Homeowners.  By Keeanga-YamahttaTaylor, DemocracyNow, 10/22/2019.
• Bernie Sanders Would “Transform the Lives of Poor and Working-Class People”.  By Keeanga-YamahttaTaylor, DemocracyNow, 10/22/2019.
• From Mike Brown to Atatiana Jefferson, Keeanga-Yamahtta Taylor Examines 5+ Years of #BlackLivesMatter.  By Keeanga-YamahttaTaylor, DemocracyNow, 10/22/2019.
• The Anatomy of the Coming Recession.  By Nouriel Roubini, Project Syndicate, 8/22/2019.
• Black Hole Monetary Economics.  By Larry Summers, 8/22/2019.
• How the Recession of 2020 Could Happen.  By Neil Irwin, The New York Times, 8/17/2019.
• Taxing the Very Rich.  By Paul Krugman.  Economic Policy Institute, 7/1/2019.
• MMT.  RT, 5/27/2019.
• $20 Trillion Later ... Where Did All the Money Go?, By Emad Mostaque,  Three Body Capital, 4/28/2019.
• Was the Stock-Market Boom Predictable?  By Robert Shiller, Project Syndicate, 3/29/2019.
• 70% Marginal Tax Tate, Inequality, Growth.  By Eileen Appelbaum, 2/6/2019.
• Inequality of Opportunity, Inequality of Income and Economic Growth.  By Shekhar Aiyar and Christian Ebeke, February 2019.
• The Next Recession:  What It Could Look Like.  By Dean Baker, CounterPunch, 1/21/2019.
• Economics for Inclusive Prosperity.  By Suresh Naidu, Dani Rodrik, and Gabriel Zucman, January 2019.
• Recession Risks for the United States in 2019.  By Dean Baker, CounterPunch, 12/20/2018.
• Explaining a Decade of Stagnation: Where Do We Go From Here?  By Steven Fazzari, INET, 12/14/2018
• US Household Debt Hits Record $13.5 Trillion As Delinquencies Hit 6 Year High.  By Tyler Durden, ZeroHedge, 11/16/2018.
• Crisis After Crisis:  10 years After the Crash, there is no 'Reforming' Global Capitalism.  By Walden Bello, FPIF, 10/1/2018.
• Wasting the Lehman Crisis:  What Was Not Saved Was the Economy.  By Michael Hudson, Counterpunch, 9/20/2018.
• 10 Years After the Crisia ... They's doing the Same Thing and Expecting Different Results.  By Tyler Durden, ZeroHedge, 9/17/2018.
• Getting it Wrong Again:  Consumer Spending and the Great Recession.  By Dean Baker, Counterpunch, 9/18/2018.
• The Bailout of 2008 was Unnecessary.  By Dean Baker, Counterpunch, 9/17/2018.
• BCA: The "Bubble In Everything" Threatens $400 Trillion In Assets.  By Tyler  Durden, ZeroHedge, 9/16/2018.
• Ten Years After the Financial Crisis, the Contagion Has Spread to Democracy Itself.  By Zach Carter, Huffpost, 9/15/2018.
• Ten Years After the Crash, We’ve Learned Nothing.  By Matt Taibbi, Portside, 9/15/2018.
• The Credit Crunch and the Great Recession.  By Paul Krugman, The New York Times, 9/14/2018.
• The Trump Economy Is on the Path for Another Financial Crisis — And It's Likely to Be Even Worse This Time.  By Lynn Parramore,  Alternet, 9/14/2018.
• The Making of a 2020 Recession and Financial Crisis.  By Nouriel Roubini and Brunello Rosa, Project Syndicate, 9/13/2018.
• The Bailouts for the Rich Are Why America Is So Screwed Right Now.  By Matt Stoller,  Vice, 9/13/2018.
• The Great Recession Knocked Them Down. Only Some Got Up Again. By Ben Casselman, et al, The New York Times, 9/12/2018.
• The Recovery Threw the Middle-Class Dream Under a Benz.  By Nelson D. Schwartz, The New York Times, 9/12/2018.
• From Trump to Trade, the Financial Crisis Still Resonates 10 Years Later.  By Andrew Ross Sorkin, The New York Times, 9/10/2018.
• Lehman: Political and Personal.  By Andy Kessler, WSJ, 9/8/2018
• What We Need to Fight the Next Financial Crisis.  By Ben Bernanke, Timothy Geithner and Henry Paulson,  The New York Times, 9/7/2018.
• Just How Much Does America's 1% Have in Savings?  By Tyler Durden, ZeroHedge, 9/1/2018.
• Why Wall Street Isn’t Useful for the Real Economy.  By Lynn Stout, evonomics, 9/1/2018
• Looking Back at the Economic Crash of 2008.  By Fareed Zakaria (reviewing Crashed Adam Tooze), The New York Times, August 10, 2018.
• Lehman Lessons.  By Howard Davies et al, Project Syndicate, August 2018.
• Ten Years after Bear Stearns, U.S. Financial Stability Is again in Danger.  By Katharina Pistor, Institute for New Economic Thinking, 3/12/2018.
• The Next Financial Crisis Will Be Worse Than the Last One.  By Nomi Prince, AlterNet, 12/30/2017.
• Student Debt Slavery:  Bankrolling Financiers On the Backs of The Young.  Mint Press, 12/29/2017.
• Paradise Papers:  Tax haven secrets of ultra-rich exposed.  BBC, 11/5/2017.
• Yanis Varoufakis blows the lid on Europe's hidden agenda.  EFN, 5/5/2017.
• These Five Men Own as Much Wealth As Half Of The Entire World’s Population.  ati, 6/16/2017.
• Now Just Five Men Own Almost as Much Wealth as Half the World's Population.  By Paul Buchheit,   CommonDrems, 6/12/2017.
• The Financial Impact of Sovereign Debt Around the World.  2017.  howmuch.
• UBS Global Real Estate Bubble Index. 9/28/2017
• U.S. Credit-Card Debt Surpasses Record Set at Brink of Crisis, By Jennifer Surane, Bloomberg, 8/7/2017.
• How Letting Bankers Off the Hook May Have Tipped the Election.  By Gretchen Morgenson, The New Yrk Times, 11/11/2016.
• Deutsche Bank Tumbles as DoJ Claim of $14 Billion Rebuffed.   Bloomberg, 9/16/2016.
• Neoliberalism Oversold?  By Jonathan D. Ostry, et al, Finance and Development, 6/2016
• Why Economists Took So Long to Focus on Inequality?  By Justin Fox, Bloomberg, 1/3/2016.
• The Elites and the Rise of Donald Trump.  By Dean Baker, Huffington Post,  5/30/2016
• `Living Wills' For Five Big Banks Fail U.S. Regulators' Test.  Bloomberg, 4/13/2016.
• The Credit Collapse Opened the Door for Trump and Sanders.  Bloomberg, 4/1/2016
• Marxism 101: How Capitalism is Killing Itself with Dr. Richard Wolff, Empire Files, 3/22/2016.
• How the Government Polices What Student Debtors Spend.  Bloomberg, 11/2/2015
• The Case for Cuts Was a Lie:  Why Does Britain Still Believe it?  The Austerity Delusion.  By Paul Krugman.  The Guardian, 4/29/2015.
• Wells Fargo's Master Spin Job.  Matt Taibbi, RollingStone, 10/2/2015
• To Save the Euro, Leave it.  The New York Times, 6/26/2015.
• Macroeconomic Causes of Inequality.  Institute for New Economic Thinking, Winter 2015
• Have Large Scale Asset Purchases Increased Bank Profits?  Institute for New Economic Thinking, [undated]
• Record Fines for Currency Market Fix, BBC News, 5/20/2015
• The Recent Rise and Fall of Rapid Productivity Growth.  FRBSF Economic Letter, 2/9/2015
• The productivity slowdown: Is structural stagnation our fate?  LBO News, 2/9/2015
• 2014 Continues a 35-Year Trend of Broad-Based Wage Stagnation.  Economic Policy Institute, 2/19/2015
• How JPMorgan Chase Helped Wreck the Economy.  With Matt Taibbi and Alayne Fleischmann, Democracy Now! 11/7/2014
• The $9 Billion Witness:  Meet JP Morgan Chase's Worst Nightmare. Matt Taibbi, RollingStone, 11/6/2014
• Why Weren't Alarm Bells Ringing?  The New York Review of Books, 10/23/2014 [Review article by Paul Krugman]
• Too Big to Jail.  Democracy Now!, 9/26/2014 [Minutes 17:59-19:12, 38:19-41:45, and 44:26-46:40.]
• The Secret Recordings of Carmen Segarra.  This American Life, 9/26/2014
• Former Fed Bank Examiner Says Secret Tapes Show Fed Leniency.  NPR, 9/26/2014
• The Blotch on Eric Holder's Record:  Wall Street Accountability.  The Nation, 9/25/2014
• Why the Experts Missed the Recession?  The New York Review of Books, 9/25/2014
• Bank of America in record $16.7bn mortgage settlement.  BBC, 8/21/2014
• 'Too big to Fail' Lives As Regulators Slam Banks' Living Wills.  HuffPost Business, 8/6/2014
• Chinese Cash-Bearing [House] Buyers Drive U.S. Foreign Sales Up.  Bloomberg, 7/9/2014
• Recession 'led to 10,000 suicides'.  BBC, 6/11/2014
• The Biology of Risk, New York Times, 6/7/2014
• Why We're in a New Guilded Age.  The New York Review of Books, 5/8/2014
• U.S. banks enjoy 'too-big-to-fail' advantage: Fed study.  Reuters, 3/25/2014
• Too Big to Fail Is Bigger Than You Think, BloombergView, 3/2/2014
• Marx Was Right: Five Surprising Ways Karl Marx Predicted 2014, Rolling Stone, 1/30/2014
• Capitalism vs. Democracy.  The New York Times, 1/28/2014 [on Piketty]
• The Financial Crisis:  Why Have No High-Level Executives Been Prosecuted?  The New York Review of Books, 1/9/2014
• The Strange Case of American Inequality.  Nation of Change, 1/1/2014
• The Debt We Shouldn't Pay [Review of David Graeber's Debt:  the First 5,000 Years].  The New York Review of Books, May 9, 2013
• The Beveridge Curve and Structural Unemployment. CEPR, 1/1/2013
• The 13 Most Important Charts of 2013
• Is U.S. Political Bubble About to Burst?  Bloomberg, 10/10/2013
• Asset Bubbles Found by Finnish Economist Inspired by Grandfather, Bloomberg, 9/19/2013
• By Every Measure, the Big Banks are Bigger.  Fortune, 9/13/2013
• The Last Mystery of the Financial Crisis.  Matt Taibbi, Rolling Stone, 6/19/2013
• The Trillion Dollar Coin Nation of Change, 1/20/2012
• Debt, Bain Capital, etc.  Matt Taibbi, Rolling Stone, 8/29/2012
• Debt-Ceiling Deja Vu Could Sink Economy, Bloomberg, 5/28/2012
• Secret Fed Loans, November 27, 2011
• Debtocracy
• "Workers' share of national income plummets to record low."  (The Lookout, June 14, 2011)
• "What U.S. Economic Recovery?  Five Destructive Myths"  (Time, 06/08/11)
• Signs of Middle Class Decline, April 2011
• Currency wars, Financial Times, January 2011
• *How exactly did inequality fuel the crisis?  (The Economist, 8/27/2010)
• Industrial Policy?  Michael Spence (FT 07/09/10)
• Frontline
• Stiglitz interview with New Yorker, August 2009
• "When Everyone Runs for the Exit," Lasse Heje Pedersen, 07/09
• "Investment Potions:  Investment Outlook, August 2009"  Bill Gross, 07/29/09 [check for prediction]
• Galbraith on "Why the economic crisis, and its solution, are bigger than you think." (3/19/2009)
• Blinder on "Origins of the Financial Mess" (11/11/08)
• BBC World Service (10/29/08)
• Tabb, "Four Crises of the Contemporary World Capitalist System," (Monthly Review, October 2008)
• Financial Bailout (Congressional Quarterly Researcher, 10/24/08)
• Alan Greenspan before Congress (AP 10/23/08)   text  extended 6:35 video
• Stiglitz' Lecture at Manchester University, UK (10/8/08)
• Philips, "The Monster that Ate Wall Street" (Newsweek, 10/6/08)
• Naomi Klein's lecture at the University of Chicago (10/6/08)
• Stiglitz' critique of the Bailout Plan (Democracy Now, 10/2/08)
• Sanders' Critique of the Bailout Plan (U.S. Senate, 10/1/08)
• Kucinich, “Is this the United States Congress or the Board of Directors of Goldman Sachs?” (Democracy Now, 9/29/08)
• Morgenson, Behind Insurer’s Crisis, Blind Eye to a Web of Risk (NY Times, 9/27/08)
• Wall Street Meltdown Primer (FPIF, 9/26/08)
• Stiglitz, "A Better Bailout" (The Nation, 9/26/08)
• Bailouts History (ProPublica in Mother Jones, 9/23/08)
• Morgenson's interview with Terry Gross (Fresh Air, 9/23/08)
• Zingales' alternative plan (Vox, 9/21/08)
• Zingales' alternative plan (detailed version, 9/21/08)
• Moyers/Phillips (NPR, 9/19/08)
• Diamond and Kashyap (Freakonomics, 9/18/08)
• CEO Compensation (New York Times, 4/6/2009)
• National Debt as a Percentage of GDP (Z-Facts)

Alternative Approaches

• Cartooning Capitalism
• ►CEPR
• COREecon
• Doug Henwood
• Economy for All
• Econ4
• ►Equitable Growth (Washington Center)
• Inequality
• ►Institute for New Economic Thinking
• LBO News
• Rebuilding Macroeconomics
• Rethinking Economics
• Steve Keen's Debtwatch
• Varoufakis on COVID-19, etc.
• Varoufakis and Wolff on COVID-19
• ►Cartooning Capitalism.
• ►London Money Power, by L.B. Woolfolk, George E. Stevens, 1890.

Blogs

• Brad DeLong
• Calculated Risk
• Calculated Risk Graphs
• Center for Economic Policy Research
• Dani Rodrik
• Economist's View
• EconoSpeak
• John Cassidy
• Macroadvisers
• Matt Stoller
• Naked Capitalism
• Paul Krugman (new)  Paul Krugman  Eco 348 and here, and here.
• Simon Wren-Lewis  (Mainly Macro)
• VOX:  CEPR's Policy Portal
• Wikipedia:  Great Recession
• Wikipedia:  Financial Crisis of 2007-2008

Humorous Explanations, etc.

• Subprime mortgage crisis explained.  John bird and John Fortune, October 2007.  Explanatory notes.  [Quotes:  "Market participants ..."]
• Financial Adviser (including "moral hazard").  John Bird and John Fortune, 2007 (?).
• The South Sea Bubble of 1720 (by Bird & Fortune)
• ReRemixes (by Bird & Fortune)
• Survival Condos

Other Video/Audio Clips

• Zombie corporations (47:00-51:30).  Interview with Rick Wolff, et al., 11/1/2020.
• How Democrats Risk Repeating the Mistakes of the Financial Crisis in the Era of Covid-19.  Interview with Jamie Galbraith, 9/17/2020.
• How the pandemic sped up the passage to postcapitalism.  An interview with Yanis Varoufakis, 8/21/2020.
• Homewreckers: How Wall Street, Banks & Trump’s Inner Circle Used the 2008 Housing Crash to Get Rich.  Interview with Aaron Glantz, Democracy Now!, 10/15/2019.
• “The Federal Government Actually Paid Him”: How Steve Mnuchin Profited From the Housing Bust.  Interview with Aaron Glantz, Democracy Now!, 10/15/2019.
• Vice, May 2, 2019
• Is war between China and the US inevitable? | Graham Allison.  November 20, 2018.
• Elizabeth Warren Questioning Stumpf of Wells Fargo. September 20, 2016. (top 10 banks)
• "Prosecuting Wall Street".  AlJazeera, 9/14/2012
• Matt Taibbi on debt, Bain Capital, etc.  Democracy Now!  8/30/2012
• $10 an Hour Minimum Wage?  Yahoo Fiance/Dean Baker, 8/2/2012
• Global Elites Hiding up to $32 Trillion in Offshore Accounts, Democracy Now! 7/31/2012
• Matt Taibi on the LIBOR Scandal, Democracy Now! 7/19/2012
• Charles Feguson--"Inside Job" and "Predatory Nation", 5/29/2012
• Paul Krugman  End this Depression Now, 5/17/2012
• Bill Moyers--Byron Dorgan  1/27/2012
• Bill Moyers--Glass-Steagall  1/27/2012
• Bill Moyers--Crony Capitalism  1/20/2012
• Bill Moyers--Winner-take-all politics 1/13/2012
• Nouriel Roubini:  Thinking Globally, Milken Institute, May 2, 2011
• Jeffrey Sachs:  "That's not a free market, that's a game" 12/10/2011
• Krugman Reinhart et al on the US and world economy, 12/6/2011
• Steven Keen on BBC Hardtalk, 11/25/2011
• America's Financial Crisis:  Where do we go from here?  (Jeffrey Sachs, Columbia U, 11/23/2010)
• Industrial Policy?  El-Erian (07/09/10)
• What Future for Capitalism? (AlJazeera, June 2010)
• Nassim Taleb on Risk and Robustness (New Yorker, June 7, 2010)
• Are Mathematical Models the Cause of Financial Crisis in the Global Economy?
• Soros on Financial Markets
• The Crisis of Credit Visualized.  2/10/2010.
• Roubini on Geithner's Plan, 3/26/2009
• Krugman (a song for)
• Krugman on the Stimulus Plan
• Robert Scheer, 3/19/2009:  On AIG Bonuses
• Roubini, 3/2/2009:  On bank nationalization
• Roubini, 2/20/2009:  "Europe's Banking System Faces Growing Risks"
• Volcker, 2/20/2009:  "U.S. Economy May Suffer for a `Long Time'"
• Stiglitz, 2/20/2009
• Roubini's assessment as of 10/24/2008
• Will China bail out the West?
   

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