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Saturday, March 9, 2013

The Schengen Agreement: Germany Discriminating Against the Roma?

In the case of the U.S., once someone enters one of the states, that person can move from state to state without having to show a visa or passport. The open borders correspond to the states that are members of the United States. In the case of the E.U., however, the open borders do not necessarily dovetail with the states that are members of the European Union. This presents problems that do not exist in the U.S.
German Interior Minister Hans-Peter Friedrich.

The full essay is in Essays on the E.U. Political Economy, available at Amazon.com

Wednesday, March 6, 2013

JPMorgan Management Evades Stockholders

After the $6 billion trading loss at JP Morgan, the U.S. Senate Permanent Subcommittee on Investigations issued a report raising the prospect of wider problems than that of a rogue lower-level trader. Specifically, the report suggests that executives at the bank “ignored warning signs and failed to alert investors about changes to its method for detecting risk,” according to the New York Times.  That is, the bank had not been publically disclosing its risky trading, thereby misleading stockholders and regulators. Banks such as JP Morgan had been urging regulators to weaken the Volcker Rule in the Dodd-Frank Act of 2010 to allow banks to continue to engage in some risky proprietary trades.
The full essay is at "JPMorgan: An Unethical Monstrosity?"