Towards a SAFER Financial System

The good folks at PERI at U Mass Amherst led by Gerry Epstein and  Jane D’Arista have just launched a new web site so theirr useful work on why and how to reign in finance can be easily accessed.

“The Economists’ Committee for Stable, Accountable, Fair and Efficient Financial Reform (SAFER) is a focal point, clearinghouse and coordinating mechanism for progressive economists and analysts to gather and present their views on financial re-regulation and reform; to reach, to the degree possible, a consensus on the key issues relating to regulation and reform; and to help incorporate this work into the public debate over these issues that will ensue over the coming six  to nine months or so. By bringing these analysts together to speak in a concerted voice, we will be able to broaden the perspective on financial regulation and reform, and enhance our impact on this public debate.”


  • You want “rein in” there, not “reign in”. That’s the problem with spellcheckers–they can’t catch homonyms.

  • Just in!

    Ron Paul wins a key battle in war to open Fed’s book

    Rep. Ron Paul, the Texas Republican who is perhaps the Federal Reserve’s most implacable enemy, scored a big win Thursday on Capitol Hill: The House Financial Services Committee approved a bill with Paul’s provision to begin federal reviews of the central bank’s interest-rate decisions.

    The vote on the audit provision amendment was 43-26.

    Paul has for years asserted that the Fed, which by design is independent of the federal government, was corrupt and that its monetary policy would drive America to ruin by debasing the dollar.

    He has sought to abolish the Fed entirely, but because that almost certainly would never fly in Congress, Paul has worked for Plan B: He wants the Government Accountability Office to have full power to audit the central bank’s operations — a measure the Fed bitterly opposes.

    “If we get the audit and get the books open, make them answer the questions, I am convinced that the American people will be so outraged that then we will have reform of the monetary system,” Paul has said.

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