Lobster Issue 61 (Summer 2011)
[PDF file]: […] higher risk (gambling). Banks’ profits, like their contribution to GDP, may have been flattered by the mis-measurement of risk….. this increase in risk was to some extent hidden by the opacity of accounting disclosures (Enron accounting; lying) or the complexity of the products involved….. ‘…..because banks are in the risk business it should be […]
Lobster Issue 59 (Summer 2010)
[PDF file]: […] either efficient or fair, or is leading to the well-being of society.’ (p. 200). What Stiglitz is complaining about here is both the amount of taxpayer subsidy, hidden and overt which American business receives, from agricultural subsidies to the present gigantic banking bailout, and the general ability of corporate America to reduce competition through […]