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in china they prosecute judges for criminal offenses
BEIJING, March 12 -- China's top judge Wang Shengjun said on Tuesday that the Supreme People's Court will ''improve its education of work ethics'' for judges in a bid to weed out judicial corruption. Wang said judicial corruption has seriously damaged the credibility of the country's judicial system and led to ''very bad'' social ...
Posted to Jurisprudence by KayASieverding on March 15, 2009
The Government Made Me Do It: Insanity Plea of Free Traders
When I use a word, Humpty Dumpty said, in rather a scornful tone, it means just what I choose it to mean -- neither more nor less. The question is, said Alice, whether you can make words mean so many different things. The question is, said Humpty Dumpty, which is to be master -- that's all. (Through the Looking Glass by Lewis Carroll) for ...
Posted to Dialogues by barry payne - economist on March 4, 2009
Howard is Re-Casting The Same Old Tired Theory
While I applaud you for trying to take seriously Philip Howard's latest book, this one ought to be read in the context of the last two, which made the same points arguing against lawyers and law and how our world and society and ethical framework have been destroyed by too many lawyers and rules and regulations. In other words, Howard -- who not ...
Posted to Jurisprudence by deviatar on January 31, 2009
Socialists , Marxists and Collectivist Seek a Scapegoat
Socialist Henry A. Waxman (D Cal) In Search Of a Scapegoat for the Economic Meltdown Socialist Representative Henry A. Waxman (D-Calif) was preying for a scapegoat to blame for the economic meltdown. And voila, he found Alan Greenspan. Even though Mr. Greenspan was the former chairman of the Federal Reserve Board - a Marxist ...
Posted to The Big Idea by Contumacious on October 24, 2008
Wall St Needs Liability=Criminal punishment
Credit default and naked default swaps were an unregulated market which led to 80- 90% of 62 trillion dolllar market. This according to the New York superintendent Dinallo's Congressional testimony Oct 14,2008. Wall Street shifted its activities to the unregulated market as less labor intensive, but also with potential for perverse ...
Posted to The Undercover Economist by Usama3 on October 15, 2008
Bailouts Present a Moral Hazard
''The current bailouts are a strong argument for tighter regulation, but regulators cannot be everywhere, any more than a claims adjuster can ride around in your car all day'' Whilst not being so naive to believe that regulation can be unlimited, it is clear that the banking industry has (had) sufficent margins to be able to support a much more ...
Posted to The Undercover Economist by moresexplease on October 7, 2008
Cretin Capitalism Destroys Competition
competition - not capitalism - is failing, due to the free market idealogues who have dumbed down both into a juvenile distinction between the government and private sector ... after which the same idealogues proceed to exploit this framework with everything BUT competition - market power in all its varieties are combined with privatization and ...
Posted to The Big Idea by barry payne - economist on October 6, 2008
Moral Hazard Myths
if free markets worked as well as claimed by free market idealogues, moral hazards could not exist, because expectations of their effects would already be incorporated into existing prices for example, the claim that insurance creates a moral hazard would not apply in a working market, because the effective price of the insurance would already ...
Posted to The Undercover Economist by barry payne - economist on October 4, 2008
Reg Dereg Myths
the essential question is whether markets can fail, and whether failures like martingale effects arise solely from within unstable markets themselves, or instead are caused by government intervention free market idealogues will always blame the government as the root cause of the current crisis and vice versa for idealogues on the other side, who ...
Posted to Do the Math by barry payne - economist on October 3, 2008
Democrats caught covering up for Fannie and Freddies crimes.
How could the media forget to mention any of this? Its almost like the democrats took bribes and covered up the crimes because they knew the economy would collapse... why would the democrats burn your economy down?
Posted to Politics by lasrever on September 29, 2008

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