Wednesday, April 27, 2016

Financial Repression Has
Exacerbated "Extreme Inequality"
Economist Joseph Stiglitz discusses the problem of extreme income inequality in the U.S. & the negative economic impact of macroprudential monetary policy .. 4 minutes

1 comment:

Anonymous said...

The Guy Who Screwed America’s Economy Hearts Hillary Clinton
The man behind Goldman Sachs’s infamous bets on the housing collapse now buys foreclosed homes and rents them out—but not to anyone convicted of a financial crime. He’s also a big Clinton donor.

Wall Street is buying Main Street one foreclosed home at a time.

The houses—more than 200,000 of them—are then rented to folks who continue to struggle in the aftermath of a near financial collapse in 2008.

And one of the leading figures in Wall Street’s scavenging of the wreckage created by Wall Street is also a big-time backer of Hillary Clinton.

His name is Donald Mullen, and he was once the global head of credit at Goldman Sachs. He was credited with devising the infamous “big short,” by which the firm bet bigger than big that the housing market would collapse even as it was urging customers to invest in it.

“Sounds like we will make some serious money,” he famously emailed colleagues in 2007, at early signs of the impending implosion.

Mullen left Goldman Sachs in 2012 and made some more serious money by becoming one of a number of Wall Streeters who are acquiring and leasing thousands of foreclosed homes.